The Greek hotel-tourism market is attracting a series of investments for the next three to five years, amounting to several billion euros, following the already strong investment activity of the last few years.
A large number of new investments concern Halkidiki, Corfu, Crete, Rhodes but also Mykonos-Santorini and other islands of the Cyclades, as well as the Peloponnese. Investment interest in hotels in Athens and Thessaloniki is also strong.
According to the Institute of the Association of Hellenic Tourism Enterprises (INSETE), the hotel industry’s total investments in the construction of new and renovation/repair/maintenance of existing hotel rooms in 2021 and 2022 is estimated at approximately 1.894 billion euros and 2.033 billion euros respectively.
An important factor that favors this boom in investments, as the president of the Panhellenic Hotel Federation and president of the Halkidiki Hotel Association, Grigoris Tassios, pointed out to “Naftemporiki” is the resources of the Recovery and Resilience Fund which give the opportunity to Greek as well as foreign investors to avoid the Greek interest rates. It should also be noted that the projects of the Recovery Fund must be completed in 2026, therefore the underway investment projects must proceed swiftly.
