Greece was the 7th most appealing country for tourism and hospitality investors, according to a survey carried out by Tranio, a specialist property and real estate management company for attractive hotel investment in Europe. Greece was also high on the preferences for hotel investment in Europe.
The data came from responses by more than 200 industry executives. The majority of respondents represent UK investors, followed by representatives from Germany, Spain, and the United States.
The list of executives surveyed (from real estate, investment, hotel development, hotel management, etc.) includes representatives of investors from Russia, the Netherlands, the United Arab Emirates, Saudi Arabia, Belgium, and Greece.
Based on the research findings, Spain and Germany are currently the most attractive European markets for hotel investment, with most of the participants reporting that their budget exceeds EUR 10 million per project.
“Countries such as Greece, which have made significant progress in tourism in recent years, in conjunction with the improvement of the economic climate, are becoming more popular, with investors expecting higher returns”, the analysis of the survey revealed, which placed the country in 7th place.
Spain accounted for 55% of the positive answers, Germany 54%, and Italy completed the top 3 with 42% positive responses.
With regard to factors investors believed needed tweaking and were problematic across Europe, the majority found the legislation, labour, and taxation issues important, while the second major challenge is increased competition.