The need for Greek tourism to develop a new, higher-quality and more diversified development model was stressed by Alpha Bank Group chief executive Vassilis Psaltis, speaking at “Greece Talks 2026”, as he also highlighted the bank’s strategic role in financing tourism businesses.
He said it was important for Greek tourism to move into the next phase of its development, with a focus on quality, authenticity and extending the tourist season.
Mr Psaltis estimated that Greece welcomed around 43 million visitors in 2025, while travel receipts came to nearly €24bn. He said the challenge was no longer to increase visitor numbers, but to boost the value tourism creates for the Greek economy.
As he noted, the goal is not only to further increase arrivals, but also to upgrade infrastructure and the tourism offering, showcase the distinctive identity of each destination and encourage activity beyond the peak months, so that tourism growth reaches more regions and a larger part of the economy.
On infrastructure, the Alpha Bank Group chief executive highlighted the need to consider partnership models between the public sector and businesses that make use of specific infrastructure, such as airports, ports, roads, water supply networks and waste management facilities.
The aim is for banks to be able to finance mature and sustainable partnership arrangements, particularly where available public and European funds are insufficient to cover the investment needed to upgrade such infrastructure.
He also stressed that striking a balance between development and preserving a place’s distinctive identity lies at the heart of planning for the future of Greek tourism.
As he said, authenticity is a significant competitive advantage for Greek destinations. Unlike infrastructure, which can be replicated internationally, the architecture, cuisine, history, culture and people of each place combine to create an experience that cannot be copied.
“A swimming pool can be built almost anywhere in the Mediterranean. But a village with its own architecture, cuisine, history and people cannot be copied. That is the real added value of Greek tourism,” he said.
More than €3.2bn in financing for over 2,000 tourism businesses
As part of this transition, Alpha Bank provides advisory and financing support to more than 2,000 tourism businesses across the country, with total financing exceeding €3.2bn. Four in five are small and medium-sized enterprises, reflecting the bank’s significant presence in Greece’s regions and its support for SMEs.
In recent years, the bank has also financed dozens of projects to upgrade and modernise large hotels, supporting investment that improves the quality and competitiveness of Greece’s tourism offering.
For Alpha Bank, however, the goal goes beyond providing finance: it also focuses on supporting investment with a long-term outlook and a meaningful impact on local economies.
“Our job is to finance business plans that can create value over the long term,” Vassilis Psaltis said, highlighting the importance of investment that draws on the distinctive characteristics and heritage of each place.
Two investments that link tourism development with cultural heritage and local history illustrate this approach: in Nea Chora, Chania, where a historic industrial complex that once housed an olive mill and soap factory is being put to use, and in Isternia, on Tinos, where three women tourism entrepreneurs are making use of a historic property, incorporating the area’s distinctive identity into a modern tourism offering.
Agri-food and culture as drivers of tourism growth
The Alpha Bank Group chief executive also highlighted the link between tourism and the agri-food sector, noting that the quality of the visitor experience is directly connected to local products and the productive base of each region.
The bank’s financing for more than 1,650 businesses and producers in the agri-food sector now exceeds €1.6bn, helping to strengthen the links between tourism, domestic production and local economies.
He also singled out Crete, where Alpha Bank has financed more than 2,000 businesses, with total funding exceeding €1bn.
Beyond financing, the bank has commissioned the Technical University of Crete to carry out an independent study of the island’s development prospects over the next decade, aiming to contribute to the debate on a model of growth that combines economic progress, social cohesion and environmental sustainability.
Mr Psaltis also stressed that culture can act as a catalyst for putting new destinations on the map, extending the tourist season and generating more value per visitor.
“Culture is not an activity that runs parallel to tourism. It is part of our identity, and we must integrate it much more fully into the experience we offer visitors to the country,” Mr Psaltis said, adding that for Alpha Bank, linking culture and development has long been a strategic choice.