ECONOMY

SETE calls for investment in tourism

sete-calls-for-investment-in-tourism

The Association of Greek Tourism Enterprises (SETE) estimates that for each euro of public investment through National Strategic Reference Framework (ESPA) funds, four euros can be invested by the private sector in the tourism sector over the next four years, representing a fivefold increase. The body is urging the government to speed up program activation procedures.

SETE believes that total investment (public and private) in the tourism sector is required to reach 11.5 billion euros over 2015-18 which can be partially raised through ESPA funds totaling about 3 billion euros. Of this, they estimate that 1 billion euros should be allocated for projects on airport, port, marina and urban infrastructure. SETE believes that the involvement of the private sector may reach up to 80 percent on necessary investments in accommodation, catering, etc.

The Ministry of Economy, Infrastructure, Shipping and Tourism already appears to be initiating processes in this direction. Alternate Minister for Tourism Elena Kountoura has commissioned a project looking into ESPA support for the tourism industry from 2014-20 with a deadline for delivery by the end of the year.