The CEO of Eurobank mentioned the successful course of the tourism sector in recent years and its participation in the GDP at historically high levels. Fokion Karaviaspeaking at the SETE General Assembly.

Mr. Karavias stated that the country must today face the challenges of this success, noting that this management is not easy.

He also referred to the so-called “hypertourism”, stressing that there is no such issue in Greece, except in one or two destinations. “But to reduce it to a universal problem is not only inaccurate, but also self-destructive” underlined Mr. Karavias and added:

“Are there issues? Certainly. We have an infrastructure problem. We urgently need massive investment in critical infrastructure. Fortunately, the resources of the Recovery Fund and other European funds are there, if we use them fully and with the right targeting for maximum positive impact. Certain aspects need to be regulated and we need to speed up the many important steps that have already been taken, mainly on your own initiative, to transition to a sustainable hospitality model, prioritizing environmental and social sensitivity.”

In detail, Mr. Karavias mentioned in his speech:

“Dear partners in the tourism industry,

To say that tourism is the industry that supported the country in the crisis would be an understatement. As it is also known, it is now setting consecutive records – with its overall share of GDP at historic highs. In particular, in recent years we have observed a qualitative and quantitative upgrade of the tourist product that will continue. While in 2009, 4-star and 5-star hotels were 15% of the total, today they have exceeded 25%. International brands are coming to our country for the first time. And Greek brands are expanding or planning to expand abroad.

At Eurobank, as a strategic partner of SETE and Greek tourism, we are particularly happy to have supported this course. Tourism is and remains a key pillar of our economy.

The issues today are of a different order. We have to face the challenges of success. In 2010 Greece welcomed 15 million visitors. Last year they reached 33 million. This year, we expect another record year. Managing such a change – considering that it will be permanent and we aim to increase the inflow further – is not easy. Maybe we can’t stand success, as if Greece has many similar ones to show. Do we always see the dark side? I notice that a public debate is developing around the so-called “hypertourism”. I do not believe that Greece has such an issue. Perhaps one or two destinations, in relation to some specific form of tourist arrival. But to reduce it to a universal problem is not only inaccurate, but also self-defeating.

Are there issues? Certainly. We have an infrastructure problem. We urgently need massive investment in critical infrastructure. Fortunately, the resources of the Recovery Fund and the other European funds are there, if we use them fully and with the right targeting for the maximum positive impact. Certain aspects need to be regulated and we need to accelerate the many important steps that have already been taken, mainly on your own initiative, for the transition to a sustainable hospitality model, with environmental and social sensitivity as a priority.

Significant investment will be required. We are here, always a strategic partner of SETE and Greek tourism, to support them with financing expertise and funds. With national infrastructure planning, with private initiatives from you and with our own contribution, Greek tourism can welcome more visitors, offer them an even better travel experience and support long-term and sustainable prosperity in Greece – no need for misery, need to support the pioneers of the transition to the tourism product of the future, which can be identified with Greece”.