• Wednesday , 8 April 2020

From the drama of recession to the rebirth of tourism!

Predictions suggest 40 million tourists will visit Greece in 2025!
Friday, May 02, 2014

The queues of thousands of Athenians standing in line at hand out stations set up by open-air market producers and retailers in Kolonos to protest the upcoming changes in their sector were a major shock, reminding everyone that there are many poor fellow citizens who are unable to buy the basics.

However, these pictures do not negate the change of circumstances, exiting the recession, the other atmosphere that tends to dominate in Greek society, but which is not yet apparent and able to reveal the full extent of the new dynamic that is slowly beginning to emerge.

Anyone watching Greek financial affairs closely will confirm that despite the poverty lines, the Greek economy has entered a new phase as it slowly begins to overcome the shadows of doubt and regain its lost credibility.

Experienced mediators of financial transactions confirm that foreign investors have overcome their fears and are systematically looking out for opportunities in Greece.

They also predict that over the next trimester important buyouts of Greek businesses will take place through capital increases. Overall, there is the impression that foreign investors have put Greece back on their map of interests and are seeking out Greek businesses to invest in for profit.

After all, the successful recapitalization of the banks, as well as the bond issues of DEI and other Greek businesses have helped overcome all of the previous fears.

Meanwhile, it appears that Greece will see a rapid growth of tourism, not just this year, but for many more years to come. For 2014 alone it is estimated that about 20 million tourists will visit Greece and the tourist trend is set to increase at an unprecedented up to 2020.

The signs from the international market hint towards important developments, suggest that the tourist period will be extended, while tourism in the big cities, such as Athens, and investments in the tourist sector will soar. The more optimistic predictions suggest 40 million tourists by 2025!

Greece has a remarkable tourist product, the pictures of the countless wonderful corners of the country are easily made accessible, via social media, to over 2 billion potential clients from all over the world.

The irresistible transmission of the images has already contributed significantly in supporting the unique Greek tourist product, thus creating new growth opportunities for our country.

The upcoming huge increase of tourism, aside from triggering an overhaul of our tourism industry, will also whet the appetite of international investors.

Should the two huge projects of Asteras in Vouliagmeni and Elliniko, along with the upgrade of regional airports in Crete, the islands of the Aegean, Ionian and other tourist destinations, take place during the sharp rise in tourist arrivals, then the entire sector will begin to recover, benefiting the Banks and the management of red loans.

Additionally, such dynamic increase of tourism is capable of boosting agricultural and industrial production and to create the circumstances for financial growth that will erase the shocking images such as the ones from the food hand out in Athens.

Perhaps this upcoming tourist rebirth may offer solutions to the unemployment problem, provided that the necessary shift in studies, skills acquisition and perception take place.

Antonis Karakousis

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