Greek Islands for sale – nice tourism business opportunity

If you have money and want to start a tourism-related business, check out this article.

Greece is preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts….an area in Mykonos, one of Greece’s top tourist destinations, is one of the sites for sale. The area is one-third owned by the government, which is looking for a buyer willing to inject capital and develop a luxury tourism complex, according to a source close to the negotiations.

I’m not sure what Greek Islands go for these days but I’m sure they are not in my league despite the fact that the recent riots have driven property value down. The article also mentions that it’s a cheap time to vacation in Greece, again thanks to the riots, since tourism is way down.

Mykonos does have name brand recognition though – it came up when one of our readers needed help finding a Greek vacation spot and again when someone was looking for a honeymoon spot.

Just an aside, before you start thinking that selling islands is an unheard of step to raise money, keep in mind that Arizona is doing something somewhat similar as it sells state-owned buildings (and then leases them back).

Filed Under: Travel stocks & business

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