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Greece to invest 500m euros per year in tourism

Staff writer |
The number of foreign tourists in Greece could rise by 50 percent in the next decade, exceeding 30 million visitors per year, Prime Minister Antonis Samaras said.

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Mr. Samaras said that during the annual general meeting of the Association of Hellenic Tourism Enterprises (SETE) at the Athens Concert Hall.

The premier also announced plans for the government to invest 500 million euros per year over the next six years in major tourism infrastructure and similar activities, while the private sector will invest at an additional annual rate of 3 billion euros.

"Such investment rates are necessary for our investment plan and are seen by the tourism sector as being feasible," said Mr. Samaras. As far as taxation in the sector is concerned, he said "we will gradually head toward lower tax rates," adding that "this will be as slow as required in order to avoid a return to deficits," reports Kathimerini.

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