AmCham roundtable focuses on investment in tourism and property
The attraction of foreign investment in tourism and property in Greece was the focus of a closed roundtable discussion held on Tuesday by the Tourism and Real Estate & Development Committees of the American-Hellenic Chamber of Commerce in cooperation with Greece’s ministries of Tourism and Development.
Titled “US Investments in the Greek Tourism and Real Estate Development Industries,” the discussion at the King George Hotel in central Athens explored challenges and opportunities in Greece’s tourism, hospitality services, and real estate development sectors, with particular emphasis on attracting foreign investments.
Tim Ananiadis, Chair of the Tourism Committee, highlighted tourism as a key driver of investment in Greece, while Left Sikalidis, Chair of the Real Estate & Development Committee, stressed the importance of such discussions to build consensus and strengthen both sectors by overcoming obstacles and bureaucratic hurdles to create better conditions for sustainable investments.
The roundtable began with keynote remarks from Stellina Siarapi, Secretary General for Private Investments at the Ministry of Development, who emphasized Greece’s openness to U.S. expertise in modernizing and improving the sector, especially in infrastructure and sustainability.
Vasiliki Koutsoukou, Secretary General for Tourism Policy and Development at the Ministry of Tourism, reaffirmed the Greek government’s commitment to establishing tourism as a cornerstone of the country’s development strategy.
She informed that in a short time the state and the investors alike will be able, based on the new Special Zoning Framework for Tourism, to have a critical tool that will also function as a map of investment opportunities in accordance with the development needs and special characteristics of each place, with a view to sustainability and upgrading the quality of the Greek tourism product.
Enterprise Greece’s presentation noted that, as the foreign press reports, Southern European countries that were once on the brink of destabilizing the eurozone are now experiencing double the growth rate of Germany. This underscores the significant investment opportunities available in Greece, Enterprise Greece argued.
Participants also engaged in a discussion covering key industry issues such as over-tourism, the impact of the cruise industry – which contributed 1.4 billion euros to Greece in 2023 – challenges with infrastructure, and the rise of short-term rentals. The importance of meeting sustainability criteria for all real estate assets by 2030 to keep Greece competitive was also emphasized. Centralized oversight and education were identified as critical factors for the sustainable development of Greece’s tourism industry.
