Supporting Tourism with €4 Billion Funding
National Bank is financing large projects to support infrastructure and modernize our country, making it one of the top tourist destinations. At the same time, it supports tourism businesses with high-level financial services.
The Vital Role of Tourism in the Greek Economy
Tourism plays a critical role in the Greek economy, contributing 14% to the GDP (compared to 8% in other Mediterranean countries and 5% in the EU) and 21% to the receipts of goods and services. The upward trend continues to show promising growth in the tourism sector.
Greek Tourism Achieves Record Number of Arrivals in 2023
In 2023, the Greek tourism industry reached a historic record with 34 million tourists. This represents a 50% increase over the past decade (2014-2023) and has had a positive impact on the hotel business, with a 20% increase compared to 2019 (in real terms). The positive trend in revenue is accompanied by an improvement in the quality and range of services offered.
A notable feature is that 4-5 star hotels have increased their share to 54% of total beds in 2023, up from 40% in 2012. The year 2024 holds the promise to continue this upward trajectory and further solidify Greece as a top tourist destination.
New Year Record Expected for Tourism Industry
A new year record is expected in the tourism industry, with an increase in arrivals of 5-7% (weather and geopolitical conditions permitting), according to a study by the National Bank Trends in Entrepreneurship-Tourism. Leading indicators such as flight bookings and scheduling for the peak demand period (+8% for the June-October period), record hiring in the sector, and continuously improving consumer confidence in key tourist origin countries all point towards this trend.
2024: A New Era for Sustainable Tourism Development
In 2024, Greece is poised to embark on a new journey towards sustainable tourism development. Recent studies by the National Bank have shown that hotel businesses in Greece are becoming increasingly aware of the impacts they face from factors such as climate change, seasonality, and changes in tourists’ preferences. They are demonstrating strategic readiness to adapt to a new sustainable tourism model.
Supporting Tourism Businesses
The National Bank plays a crucial role as a funder of tourism businesses in this new era of sustainable development. By providing financial support and guidance, the bank is helping these businesses transition towards more environmentally-friendly and socially responsible practices. This support is essential for ensuring the long-term success of the tourism industry in Greece.
Tourism and Infrastructure Investments in Greece
Greece has seen a significant increase in tourism in recent years, with major investments in luxury resorts like Costa Navarino, Amanzoe, and Ilisian (Hilton), as well as numerous smaller hotels and accommodations. Additionally, the country has invested in businesses related to transportation, car rentals, and other services that enhance the visitor experience.
Infrastructure Development
At the same time, Greece is also investing in infrastructure projects that support both Greek and foreign visitors, making it easier to access unique travel destinations. Projects like the Rio-Antirrio Bridge and the Athens International Airport have improved connectivity and accessibility for tourists, contributing to the growth of the tourism industry in the country.
Investing in Infrastructure for Tourism Development
The construction of new airports, such as the Olympia and Pylia Roads, funded by the National Bank, are key infrastructure projects that aim to enhance our tourism product and contribute to the positive experiences of those who choose our country as their holiday destination.
Corporate & Investment Banking Services
The National Bank’s Corporate & Investment Banking division serves large and medium-sized businesses, organizations, and business consortia with an annual turnover of over €5 million. It provides comprehensive coverage for the diverse business needs of its clients, offering a wide range of financial services and solutions.
Expertise and Quality Service
Our company is dedicated to meeting the needs of businesses with expertise, flexibility, and high-quality service. We have specialized teams that offer a comprehensive range of banking products and services to businesses:
– Financing (guaranteed and co-financed programs, leasing, factoring, etc.)
– Investment banking (bond issuances, stock market listings, mergers and acquisitions, consultancy)
– Transaction solutions (collections/payments, card acceptance, etc.)
– Complex international market products
– Upgraded digital services
Enhanced Business Services
National Bank has developed a new integrated model to serve businesses, with 3 specialized roles that contribute to the enhancement of its services: Business Advisors (RM) work alongside corporate clients to facilitate their access to financial solutions. Along with Corporate Transaction Banking Officers (CTB Officers) who specialize in non-financial solutions that provide immediate value to the transactional cycle of businesses, they aim to provide comprehensive support to businesses.
Corporate Service Units in Greece
The Corporate Service Units (CSU Managers) in the new Corporate Hubs in Athens, Thessaloniki, Patras, Larissa, and Heraklion Crete are located next to every business and cater to every need. With the new service model for corporate clients, the National Bank invests in the country and businesses, creating opportunities to showcase Greek hospitality and develop both national and local economies.
It invests in infrastructure and, most importantly, in people, consistently serving its role in dynamically supporting the economy.
Supporting Sustainable Growth for Businesses
At our company, we are committed to supporting the sustainable development of the country, while respecting both people and the environment. We believe that businesses can thrive while also being conscious of their impact on society and the planet.
If you would like more information on financial products available for businesses with a turnover of over €5 million, please schedule a meeting with our Business Advisor. They can provide you with tailored solutions to help your business grow responsibly and sustainably.
