Crete at the centre of tourism investments
What major tourism investments have been developed or will be developed in the “flagship” of Greek tourism.
Despite the pandemic, the tourism industry has not slowed down its investments as most investors believe that this is a short-term crisis and that the demand for Greek holidays will quickly return to the levels of recent years, according to a related report of Danos Group, an alliance member of BNP Paribas Real Estate, that focuses on the region of Crete. More specifically, the report notes that the successful handling of the health crisis in Greece has created a positive image in the international media, a fact that has created additional incentives for the implementation of investments of several million euros.
According to the report, more than 14 five star hotels were approved for development throughout the island. 6 of those belong to the great investment of Elounda Hills, a project of Mirum Hellas, a subsidiary of Russian entrepreneur Vitaly Borisov. 3 more are historical buildings ready to be converted, in the old city of Chania. The Israeli company that is interested in the project plans an investment of 18 million euros.
The data of the report were collected during 2020 and they certainly display the untapped growth of Crete and its tradition as a favourite tourist destination.