Costa Navarino Boosts Greek Economy

Greece Is | August 5th, 2016

Study by Kathimerini shows that the luxury tourism resort has boosted the Greek economy by around 1 billion euros.

A study conducted by Kathimerini shows that the operation of the Costa Navarino luxury tourism complex, from the point of its construction to date, has contributed an estimated 1 billion euros to the Greek economy.

The study was commissioned to assess the financial benefits which have resulted from the construction of the complex.

Based on the research’s results, Kalamata airport is now one of the most developed in the country thanks to the operation of the complex. With 1,100 flights this year, its operational activity has increased by 370% compared to 2009. 86.5% of passengers stay in local hotels and accommodation around the Peloponnese, while 13.5% stay at Costa Navarino.

TEMES SA, the parent company of Costa Navarino, has invested over 3.5 million euros towards attracting airlines to Kalamata airport and the resort. In this context, it was possible to extend the area’s tourist season, with the first flights starting in February and lasting until late November.

“TEMES SA, the parent company of Costa Navarino, has invested over 3.5 million euros towards attracting airlines to Kalamata airport and the resort.”

The direct revenue from the increase in visitors to Messinia for 2016 is expected at 17.5 million euros. The secondary effect of the revenue on the local economy is estimated to be a further 28.8 million euros.

It has been estimated that for every 1 euro spent in Costa Navarino, 1.65 euros are spent outside the complex. Local restuarants benefit annually to the tune of 2.25 million euros through approximately 75,000 meals for visitors to Costa Navarino in the wider region.

Moreover, 60% of their supplies come from local producers and businesses in Messinia.

The company has organized training programs for restaurants, hotels and other tourism businesses with more than 450 participants. 40 local entrepreneurs have participated in training visits to Costa Navarino. More than 11 million euros were spent by TEMES SA on the infrastructure of the whole area for water management studies, road building, etc.

Finally, special attention has been paid to environmental protection with 10% of the resort’s total budget invested in this direction. Over 90% of the total area of Costa Navarino remains preserved as an open space, with green areas being used in natural or landscaped form.