Prodexpo 2024: A Closer Look at Greece’s Hospitality Boom

The recent 25th Prodexpo real estate conference in Athens brought together key figures in tourism and real estate to examine Greece's remarkable progress as a premier destination for global investors. Among the panelists was our Group CEO, Roger Allen, who joined a thought-provoking discussion on Greece’s ongoing tourism and real estate "renaissance."

Speaking on the panel, Roger Allen shared insights on Greece's rising profile in the tourism sector:

"Greece has become a leading brand in global tourism, now ranking third in the EU based on travel and tourism's contribution to GDP in 2023. With its political stability and the rising demand for holiday homes, Greece has firmly positioned itself as a premier destination for investors."

The panelists explored essential insights and emerging trends, including:

• Growing investor confidence: Greece continues to attract significant attention, with 51% of hospitality companies planning to reinvest, according to a recent EY survey. Marinos Giannopoulos, CEO of Enterprise Greece, noted that these trends reflect years of systematic work to enhance Greece's investment climate.
• New market hotspots: Destinations like the Athenian Riviera, Thessaloniki, and the Northern Cyclades are generating substantial interest among investors, as highlighted by Ioannis Orfanos, Head of Capital Markets at Colliers Greece. These emerging locations complement established markets in Crete and Rhodes.
• Athens' transformation: Luis Picas Asmarats, Senior Director of Investments at Hotel Investment Partners, emphasized that Athens has evolved into a vital destination over the past five years, driven by projects like Ellinikon and the Athenian Riviera’s development. He noted that continued innovation and strong local partnerships are crucial to the sector's long-term growth.
• Melia Hotels’ Expansion: Nikolas Kafetzidakis, Head of Development Greece & Cyprus at Melia Hotels International, revealed Melia’s plans to expand its presence in Greece. The brand is seeking partners to adapt its entertainment model, with a focus on extending the tourism season to capture year-round demand.

As Greece continues to enhance its standing in the global tourism and real estate markets, RLA Global remains committed to supporting sustainable growth and development in the Hellenic region.

If you'd like to discuss investment opportunities in Greece, feel free to contact us at contactus@rlaglobal.com.