TOURISM

2022 tourism to face ‘biggest demand in 20 years’

2022-tourism-to-face-biggest-demand-in-20-years

Next year will be an “explosive one” for tourism, according to Eurobank’s alternate chef executive Konstantinos Vassiliou, who estimates that demand will be the greatest in the last 20 years.

In that context, Eurobank on Tuesday announced a new 750-million-euro funding package for tourism in the next couple of years, which along with the previous package announced in May 2020 brings the total value of the lender’s financing of the sector to €1.5 billion within four years, Vassiliou added.

The new program offers €275 million for hotel construction and expansion, €225 million for hotel upgrades and €250 million for acquisitions and for the refinancing of previous loans.