Eurobank, SETE take long-term look at tourism

EFG Eurobank CEO Nikos Nanopoulos addresses journalists in Athens yesterday as the lender joined forces with the Association of Greek Tourist Enterprises (SETE) to put together a long-term development plan for the tourism sector. The results of the research, titled ‘SETE 2020,’ are due to be unveiled at the start of 2011 and will propose ways for the sector to build on its advantages, draw investment and improve the quality of its product. ‘We can’t talk about the quality of tourism without long-term planning,’ said Nikolaos Karamouzis, Eurobank’s deputy chief executive officer. Eurobank, the country’s second-largest lender, has lent 1.1 billion euros to the sector with loan growth to tourism companies at around 50 percent per year before the crisis, added Karamouzis.