Tourism investment must grow 4 bln every year

Tourism is a key engine in the Greek economy with significant prospects, and Alpha Bank is contributing toward its growth, the lender's chief executive officer Vassilios Psaltis told businesspeople at an event organized by Alpha last week in Iraklio on Crete.
After shrinking by some 25 percent, the Greek economy has moved on to a period of growth, Psaltis said, while a climate of trust is gradually being restored and private deposits are trickling back into the credit system.
He did note, however, that for the economy to bounce back to the level it was before the outbreak of the financial crisis almost a decade ago it will require a high growth rate of around 3-4 percent for the next few years, with a significant increase in investments, which will need to rise by 20 billion euros on annual basis: A fifth of that (4 billion euros) should concern tourism, he argued.
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