Greece tourism seeks its share from recovery funds and loans

Published on : Wednesday, August 12, 2020

In spite of Greece’s overdependence on tourism, the sector will look for its share from the Next Generation EU recovery fund and the 32 billion Euros that Greece stands to receive in grants and loans.

The reason is that the pandemic has not only pointed out the economy’s enormous dependence on tourism, but has also shown that only enterprises adhering to modern trends and requirements can be sustainable.

For financing from the recovery fund, tourism enterprises will focus on energy upgrade projects targeting sustainability as well as digital transition and modernization projects.

Tourism can also take advantage from infrastructure improvements, allowing Greece to close the gap with its fellow Mediterranean rivals. Hoteliers have opined that travel experience not only concerns accommodation but also the entire destination.

“Tourism activity must be perceived as an ecosystem of value chains driven by experiences offered by destinations, with each country being able to form its own unique chain of value and experiences,” said Ilias Kikilias, general director at the Institute of the Greek Tourism Confederation (INSETE).

Greece’s chief competitors are mature European destinations like Spain, Italy and Portugal, “to which we are superior in friendliness, service, in accommodation, food quality and the sense of security, but we lag in matters mainly related to public infrastructure and the operation of destinations, such as cleanliness, town planning, the state of archaeological sites, information etc,” added Kikilias.

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