Telemachos Georgakis: Alpha Bank has channeled 2.2 billion euros in the tourism sector in the last 4 years

Alpha Bank has channeled 2.2 billion euros in the last four years in tourism, while it was the first bank to create a specialized Directorate for Financing of Tourism and Hotel Businesses, points out in his statements the Commercial Banking Director of the Bank, Telemachos Georgakis. As he explains, in order to implement an investment in the tourism sector, three factors have a decisive role: the hotelier (owner), the State and the banks: “There are units with very high standards. From the State there is a plan and resources for the financing of investments and from Alpha Bank there is the disposition and the know-how, which is particularly important in the specific object, while there are also both the products and the funds” .

He also noted that “To make an investment you need to have an idea. But the idea alone is not enough. In order to make a successful investment, this idea must be properly captured through a detailed and documented business plan.”

Tailor made solutions by Alpha Bank in the tourism sector

Mr. Georgakis underlined that Alpha Bank has the know-how and the appropriate financial products, to which are added additional tools from the State and from national or supranational organizations that make it easier to finance a tourism investment, referring to the Recovery and Sustainability Fund. , co-financed programs, NSRF programs and the development law.

“In any case, we offer to the customer what he needs”, he stressed and noted characteristically that “the customer in the field of tourism needs a tailor made solution, a solution cut and sewn to measure. We can not just offer him a shelf product” , while he added that the bank, with the knowledge and experience of its executives and through the close contact it maintains with the customer, examines his needs and offers solutions. He said that in May and June, the bank’s executives visit customers in more than 20 tourist destinations in order to listen closely to the needs of customers.

“We have the great advantage, the brand Greece”

In a related question at the 1st International Business and Hospitality Conference in which he participated, Mr. Georgakis predicted that 2022 will be a pretty good year for Greek tourism and pointed out that in the long run the prospects of the industry will be just as good. Explaining the word “long-term”, he clarified that a tourism investment requires funds that are to be amortized over a period of more than ten years, so what we need to consider is what will be the course of the industry during this period and not just the next 1-2 years.

“The outlook there is very positive,” he said, adding that there are various issues that need to be addressed immediately or in the near future, such as rising energy costs, raw material costs and the difficulty of finding staff. years will have to deal with the impending rise in interest rates and a possible reduction in the purchasing power of tourists. Referring to the issue of interest rates, Mr. Georgakis noted that “we will experience an increase in interest rates and we must prepare.” He added: “Most customers have a floating interest rate and we at Alpha Bank offer them solutions. “.

“However, we remain very optimistic about the future, because it seems that people all over Europe and the world want to travel,” he said, adding that the base of potential young tourists is growing due to the creation of a new middle class in various countries. of India and Brazil.

He also stressed that “our great advantage in attracting new tourists is the brand Greece”. The strength of the brand strengthens all the extroverted efforts of companies both in the field of Tourism and in other sectors of the Greek export economy, such as the agri-food sector.