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SE European Markets GREECE – CROATIA - MONTENEGRO

Discover the potential of Greece, Croatia, and Montenegro as emerging tourist destinations. Learn about their investment opportunities, hotel performance, and major investments in tourism. Dr. Aris Ikkos shares insights and data on these growing markets.

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SE European Markets GREECE – CROATIA - MONTENEGRO

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  1. SE European Markets GREECE – CROATIA - MONTENEGRO Dr. Aris Ikkos

  2. Macro data FutureBrand ranks Greece as No. 5 Country Brand in Tourism

  3. First IPO participants have seen shares appreciate by 100% since Dec. 2005 • So far raised € 400 mn (100 + 300) – to be invested by end of 2007

  4. Greece Holiday Homes The Case for Athens 5* Hotels and Resorts

  5. Athens airport traffic Consistently ranked among top airports worldwide

  6. The case of Athens : a modern city with things to do In excess of € 1bn invested in hotelrenovations for 2004 Olympics Planned Conference Centre • main auditorium : ~ 3.000 pax - can be split into 2 of 2.000 and 1.000 pax • 2 auxiliary auditoria : 450 pax each • break out rooms : total capacity 2.100 pax • covered lobby / exhibition area : 10.500 sq. m.

  7. Athens 5* hotels

  8. Athens 5* hotels – 2007 vs 2006

  9. 5* Hotels in Greece Total 2002 : 92 with 39.337 beds 2005 : 155 with 56.888 beds 2007 : 179 with 64.913 beds

  10. Major Investments

  11. Latent Golf Tourism Demand

  12. Greece can support, on latent demand alone, 22 – 45 golf courses How many golf courses? • Latent demand: 170.000 players • Assume 4-5 rounds each (1 week) • => 680.000 - 850.000 rounds • With 20.000 - 30.000 rounds required per course to make it viable

  13. Significant niche markets

  14. Existing The Brands Entering

  15. Greece -Investment considerations • Mature Destination - € currency risk - Long Term A • Corporate tax rate : 25% • Government / EU subsidies • Cash Grants : 35% or higher • Wage subsidy for employment created • Tax allowance of up to 100% • Biggest obstacle: Red Tape, but … • … new Master Plan for Tourism & Real Estate Development is expected to cut through a lot of it

  16. Croatia Trends

  17. Hotels Performance 5* Hotels in Croatia 2001 : 7 with 3,093 beds 2004 : 11 with 3,219 beds 2007 : 13 with 5,050 beds Source: Horwath Croatia Hotel Study

  18. Major Investments

  19. Montenegro Trends

  20. Hotels Performance Source: Horwath Croatia Hotel Study

  21. Number of Hotels *Since 1989 categorization of hotels (especially 1* and 2*)

  22. Seasonality

  23. Major Investments

  24. Dr. Aris Ikkos a.ikkos@gbrconsulting.gr Voukourestiou 31 106 73 Athens www.gbrconsulting.gr/tourism

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