Eurobank CEO: India Offers Major Growth Opportunity for Greek Tourism

Eurobank CEO Fokion Karavias. Photo source: SETE

India’s rapidly expanding middle class presents a significant opportunity for Greek tourism, Eurobank CEO Fokion Karavias said during the 33rd General Assembly of the Greek Tourism Confederation (SETE) in Athens on Wednesday.

Karavias highlighted India’s emergence as a global economic power, noting the importance of direct connectivity to support business and tourism growth. “With a market of 1.5 billion people, India offers huge potential for Greece and Cyprus,” he said. “Business deals require movement of people, which is why direct flights planned by Aegean Airlines are so important.”

He pointed to India’s affluent and travel-hungry middle class as a promising new source of visitors. “Though Greece may seem small in percentage terms, even a modest share of India’s vast population can make a big difference,” Karavias added.

Eurobank is positioning itself to capitalize on this trend. “In a few months, we will open the first representative office of a Greek bank in India,” Karavias announced.

The bank recently supported the launch of Thomas Cook India’s first European office in Cyprus, signaling growing ties in the region.

The recent opening of Thomas Cook India’s first European office in Cyprus underscores the growing connections between India and the region, signaling expanding opportunities for Greek and Cypriot tourism sectors.

Faster visa issuance essential

Karavias also urged for faster visa issuance and stronger government support to help businesses tap into the Indian market.

“Those who act decisively will gain a significant advantage and unlimited development opportunities,” he said.

Moreover, the CEO reaffirmed tourism’s vital role in Greece’s economy.

“Last year, tourism contributed over 30 billion euros, accounting for 13 percent of GDP. It generated 85 percent of tourism revenue from abroad, covering more than 70 percent of the external goods deficit. One wonders where the Greek economy would be without tourism.”

Karavias highlighted continued strong demand and growing investments in the sector, with foreign investors seeing ample room for expansion.

“Eurobank remains a committed partner of Greek tourism, placing it at the core of our business planning,” Karavias concluded.

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