Opening of a Health Spa Luxury Hotel in Greece Essay

Opening of a Health Spa Luxury Hotel in Greece - Essay Example The essay "Opening of a Health Spa Luxury Hotel in Greece" assesses the investment possibilities for the opening of a health spa luxury hotel in Greece and explore all areas governing the requisites for the successful setup and operation of the hotel. The discussion takes place from the point of view of a consultant in the hospitality sector.Greece a country that lies in the Southeast part of Europe is officially known as the ‘Hellenic Republic’ It is surrounded by Albania, Bulgaria, Turkey to the east and the former Yugoslav republic to the north. The city of Athens is the Capital of Greece. Having the Aegean and Ionian Seas to either side the seas feature a vast number of islands on the Eastern Mediterranean Basin. This scenic beach and comfortable geography of Greece makes it a natural location for tourists. Therefore provides perennial business to the hospitality industry. Greece inherits the civilizations of ancient Greece, the Roman and the Byzantine empires and fo ur centuries of Ottoman rule. This rich heritage has left its mark on the culture of Greece, which is considered to be the birthplace of democracy, philosophies, mathematic and scientific principles, including the western drama of tragedy and comedy. Greece is a fully developed country today, a member of the European Union since 1981, a member of the European Economic and Monetary Union since 2001. The travel and tourism contribution to the Gross Domestic product of Greece is expected to rise to â‚ ¬ 69.6 billion by the year 2018.... Greece Cities and Topography Thessaloniki, Patra, Heraklio, Volos, Ionnania and Larissa are some of the major cities in Greece apart from Athens the Capital city. Athens, Crete the South of the Aegan Sea and the Ionian Islands are some of the primary tourist destinations. Beach resort visitations are widespread among the other coastal areas of Crete, Corfu, Rhodes and Chalikidiki as they are developed and more accessible and attract large number of annual tourists. The hospitality industry and the health spa and luxury hotels are heavily dependent on the tourism to that country and Greece has been voted as the second best tourist destination in Europe in "The Telegraph" early this January. Greece - Business Environment- Tourism Looking at the tourism industry in Greece, The travel and tourism contribution to the Gross Domestic product of Greece is expected to rise from 37.3 billion in 2008 to 69.6 billion by the year 2018. The travel and Tourist economy contributes 963, 000 jobs, which 20.9% of the total employment in 2008 and is expected to rise to 1,349,000 by 2018.The Injection of 40 million into the industry by the tourism ministry of Greece is bearing fruit. Moreover, the progressive economy of Greece proves to be of high attraction for investment possibility. Below is a table that proves the uptrend in the economy which makes Greece a land of business opportunity. Year Real GDP growth rate (%) Unemployment rate (%) 2005 3.7 9.8 2006 4.3 9.3 2007 4.1 8.3 2008 4 7.4 Source: The Greek state budget for 2008 The growth in the GDP rates couples with the reduction in the Unemployment rates is the key to the successful functioning of any economy. Looking at tourism after the Olympic games