Golf and related businesses in America, the world’s leading market which has an estimated 40 million golfers and 17,000 golf courses, accounts for aproximately 6% of Gross Domestic Product, coming in above gambling,  mining and  the movie Industry

In the European Union, it is also is big business. It has an estimated 8 million golfers playing at 6,500 golf facilities, with Britain, France, Germany and Sweden accounting for 69% of all golf courses and 67% of all registered players. The number of European golfers is growing at about 7% annually,  Norway is currently the fastest-growing market.

     Golfers also tend to spend higher than the average tourists, spending more, with a range of complimentary services and businesses, in addition  golf courses thriver from the millions of golfers, their spouses and families, who take golf-related holidays. The proportion of regular golfers taking golfing holidays ranges from 25% in the UK to 50% of Germans, with both groups favouring sunshine destinations Spain and Portugal are a favorite.

For Greece however, is that in reality most existing  golf courses  whilst attracting  Golf players. The particular course has to have long term potential to host some major tournaments with the correct marketing and sponsorship.

Studies have shown that more than 200,000 visitors to Greece annually are potential golf tourists, therefore it is easy to understand the current interest to develop this high-end attraction in one of the word's most attractive climates.

The investment landscape is changing rapidly in Greece. Three investment schemes, backed by a EUR 600 million foreign capital inflow, are entering the implementation phase. With a dynamic investment strategy, the following major investments in three regions of Greece are currently in the pipeline.

  Today is the perfect opportunity for business investors to consider Greece as a golf investment location. The new legislationt interest by the government, and the locations available at this present time makes into unprecedented opportunities that will gain great rewards.

After years of neglect, golf in Greece is beginning to attract major attention in the international investment community. Spurred on by the new investment law and a strong interest by the current Greek government, golf investment is showing signs of exceptional vigour and numerous projects are proceeding from the drawing board to the fairway.

Deputy Minister of National Economy and Finance, Petros Doukas has long championed golf as an investment opportunity in his role as President of the Hellenic Golf Federation. Today, 18 months into his appointment as Deputy Finance Minister, he is even more enthusiastic about the potential of golf and is actively promoting golf investment at the official level. Speaking to ELKE e-News, the Minister said. "I would like to invite foreign investors to look closely at Greece as a destination for an investment in golf courses and golf resorts. Greece offers a 12-month golf season, a great leisure mix including swimming, sailing, and snorkelling in the Aegean, and a treasure chest of cultural attractions."

Minister Doukas believes the government can do more to accommodate investors: "We are forming a new inter-ministerial committee to facilitate investment in golf since we believe it is one of the most promising areas for growth in Greece," he said. Plans call for specialists from the Ministry of Tourism, the Ministry of Development, the Ministry of National Economy, and ELKE to coordinate proposals and projects so that golf courses and related investments are fast-tracked.

  Additional to golf tourism are residential communities and holiday accommodations. at this time legislators are introducing new bills in Parliament that will facilitate the construction of integrated resorts that combine villas, apartments, and hotels with such offerings as golf, spas, conference centres, and other business and leisure activities.

Since the development of golf courses is mixed with the development of larger resort complexes, an additional boost to the game's advance was provided when Prime Minister Costas Karamanlis announced his government would "do all that is needed to disentangle major investment projects from the maze of red tape and contradictory licensing legislation."

Efforts been made by a variety of sources to speed up major investments are showing results. Three major investment projects have cleared hurdles to proceed fast-forward. John Anastasopoulos, President of the Hellenic Centre for Investment (ELKE), said, “These are the first concrete results of the new ELKE strategy for 'unblocking' investment schemes and 'counter-incentives' that have created problems for investors in the past."

Ellie Abravanel, publisher and editor of Golf and Tourism in Greece magazine, recently reported that golf investment is reaching substantial levels: "As many as 11 planned resort complexes include one or more 18-hole golf courses in their building plans, totalling EUR 2 billion in budgeted outlays. Greek and foreign investors have been waiting for between 3-10 years for state clearance and the time has come for their arduous efforts to pay off."

In the past Greece's golf enthusiasts had a limited number of courses  to choose from  Glyfada in Athens, as well as one each on the islands of Corfu, Rhodes, and Crete. The success of two new courses, one at Porto Carras in Halkidiki and a second course on Crete demonstrates the strong interest of tourists to golf and showed the clear potential for more golf courses throughout Greece.  

The Minister of Tourism Development  is also keen to see more golf opportunities as part of Greece's tourism infrastructure. He recently stated during a visit to the Glyfada Golf Club, "Undeniably, golf tourism can become the main factor towards quality tourism in our country." Renee Pappas, Director of Public Relations at the Hellenic Golf Federation, believes that within five years Greece will boast an additional 10 major golf destinations—perhaps more. "We will see exciting courses at spectacular locations and I believe golf will become a central, year-round tourist attraction that will put Greece on the 'global golf map.'"

The current Greek administration has from the beginning prioritised the creation of a favourable investment environment. The 'unblocking' of these investments will attract the interest of businesspeople from abroad who will be convinced that Greece, as a destination country, favours investments and pursues business-oriented policies.

  Peter Michel Heilmann, Founder and Director of INVgolf, a global golf and leisure-integrated real estate business intelligence provider, conference organiser and investment vehicle, says that a number of leading Greek groups of companies and foreign investors have started to proceed with their investment plans for the development of holiday homes and integrated leisure resorts with golf courses on large plots of land. Heilmann, a Dutch entrepreneur based in Athens, says "a number of Greek and international property management and investment groups are seeking to turn Greece into Europe's 'number one' holiday and retirement home market."

A property hotspot is Crete it combines -- especially in the South - an unspoiled Mediterranean landscape of exceptional beauty with a moderate climate and sunshine at levels reaching 300 days per year.   It has to offer many alternative forms of tourism such as hiking, which offers the tourists the opportunity to discover the rich flora and fauna of the island either by hiking through canyons such as the Samaria Gorge, or by climbing the slopes of Mount Psiloritis or the White Mountain. It is a perfect combination of holidays not only with exercising, sports and all forms of physical activity but also with more intellectual pursuits such as the rich cultural heritage of the island dating back to the Minoan times. So, one can visit the Minoan palaces of Knossos and Festos and experience the exquisite beauty and craftsmanship of the many objects that were excavated by the archaeologists’ pickaxe, most of which are on display at the world-famous museum of Heraklion. Another great interest are the monasteries of the island --Toplou, Preveli, Gouvernetou, Arkadi, to name just a few -- and the relics of the Franco-Venetian occupation of the island in the cities of Hania or Rethimnonn. Most of the tourists that choose Crete for their holidays come from European countries in which golf is a widespread sport."

"Taking into account the advantages of climate conditions,  and the natural beauty of Greece, on the other, we have come to the conclusion that Greece has unquestionable competitive advantages that can make it one of the favourite destinations of golfers, especially now that golf is gaining ground rapidly on a worldwide scale, and has come to be appreciated as a most beneficial physical activity, and firmly believe golf has the potential for significant growth in Greece?

With its rich flora and fauna GREECE has a total of 12,000 kinds of flora from an estimate of  19,000 throughout the world over, and its natural morphological diversity has the prerequisites for the promotion and dynamic development of the sport. Today the developmental policy of the government definitely considers golf a subject of paramount importance in the country.

  "The  strategic investments of the country includes golf course facilities working together with the development of high level tourist infrastructures and real estate developments in the vicinity of golf courses, these have the direct support of the Greek Government. The new investment law 3299/2004 provides for grants and tax exemptions with a view to making the sector more attractive to direct foreign investments."

 "As extensive research shows, in order to respond to the needs of the market, it is important for a golf project to have residential facilities nearby, whether they are part of an existing urban layout or, as in the case of new land-planning, they are situated in a natural environment in the countryside,  it is therefore important for a golf project to have residential facilities close by, such as holiday and year-round homes

These facilities should be accompanied by specially designed, high level real estate development.

It is recommended that the optimal planning comprises  of 5 and  4 star hotels, holiday and year-round homes with all the necessary facilities that will meet the demands of high-level local and foreign tourism.

Recently, a large number of Europeans have decided to establish themselves permanently in Greece, either in traditional villages by renovating old residences or in the countryside and especially near the sea, by buying seaside lots. They are usually retired citizens who want to take advantage of the natural beauty and the mild and dry climate of the country. These people could just as well choose a resort that offers all the necessary infrastructures as is the case in other Mediterranean countries or the USA."

The advantages  Greece and Crete offer to foreign investors Greece, and especially Crete, is an established international tourist destination. Crete already has 3 international airports with 2,500,000 tourists per year. It is a safe and peaceful place without any conflicts.

Bing a member of the European Union, Greece has a stable monetary environment. Cretes climate is the mildest in the whole Mediterranean, with year round sunshine and ideal temperatures and humidity. The natural beauty of Greece and especially of Crete, with its exquisite beaches, its snow-covered mountains and its rich hinterland is known all over the world.

The rich cultural heritage of Crete, its traditions and its hospitality make it an interesting and attractive destination.  The Cretan diet are world famous and the local agricultural products.  There is a strong regional economy in Crete.

The Greek government has the political will to support the implementation of such projects. This is put into practice through the new legal framework and investment law for the development of high-level and specialised tourist facilities. The return on investment, as estimated by acclaimed international financial consultants, is at a high level in relation to the low risk of the investment."

Minoan Group PLC a British company  plans to build one of the largest resort communities in Greece on the island of Crete. Cavo Sidero will be a luxury, EUR 750 million complex on 26 square kilometres that will operate 12 months a year,  project director Geoffrey Brown, stated "Golf is an integral part of our plans and is central to our mix of sports and leisure activities. We have plans for two 18-hole golf courses, one of which will be a championship course, a 9-hole par-3 course, a driving range, a club teaching pro, and a top flight club house. also to be noted is that Minoan Group PLC has signed a management deal with PGA Golf Management, the commercial arm of the PGA that specialises in managing and marketing quality golf courses." The contract to design the golf courses has been awarded to European Golf Design Ltd. (EGD) of the UK, who will work closely with PGA Golf Management to ensure that the courses and amenities meet Minoan's strict environmental requirements. The residual land value of the site has recently been reassessed by AXIES SA, a member of the Lambert Smith Hampton Group, and re-valued at £80 million based, inter alia, on all relevant consents having been obtained. The signing of a Memorandum of Understanding with a major international operator of luxury five star hotels was recently announced.

In the Peloponnesus, Navarino Resorts in Messinia is being developed by Tourism Enterprises of Messinias SA (TEMES), an Athens-based company controlled by the Constantakopoulos family of ship owners. TEMES acquired land for the project from more than 1,200 owners during the past two decades. The EUR 300 million project will be built at the historic bay of Navarino on the South-West Peloponnese coast, scene of a 19th-Century naval battle that made it possible for Greece to win independence from Ottoman Turkey. After many years of patient planning, TEMES hopes to open the doors of these two luxury golf resorts in spring 2008. Troon Golf, the world's leading high-end golf development, marketing and management company, will manage both championship-standard courses. Robert Trent Jones II, Inc., the California-based golf course architects, will design the Navarino Bay course. By 2015, Navarino will be Greece's premier golf destination with seven courses with half-an-hour's drive of each other, according to Achilles Constantakopoulos, the Managing Director of TEMES. As part of the project's second phase, approximately 200 villas will be built at Navarino Bay and another 120 at Navarino Dines. Two 5-star hotels at each resort will be managed by brand-name international chains. Three more courses with similar accommodation are planned for a sea-side site at Rizomylo, 30 kilometres to the east -- a classic Greek landscape of rolling hills covered with olive and cypress trees.

The Kilada Golf and Spa Resort, not far from Porto Heli, is also proceeding and includes plans for a large number of villas close to the sea and the fishing village of Kilada. Set among gently rolling hills, valleys, vineyards and family estates, the Kilada property in Argolis is especially accessible to the residents of Athens  since it is less than two and a half hours by car from the nation's capital. Right next to this resort, at a mere 35-minute helicopter distance from Athens, the ultra-upscale Kilada Hills Collection, a new project of 11 striking contemporary houses, is currently being developed. The villas are aimed at the top of the market, from 240 square metres of living space upwards, each including at least four bedrooms and bathrooms as well as home cinema, extensive terracing and an infinity pool.

In the  province of Hellios an American group is proposing a hotel, conference centre and residential development, Faldo Design's London-based vice president of design, Guy Hockley, is working on a new course at the Olympia Resort in the Peloponnese. The Olympia Resort project site, with its amenities and close proximity to the historic site of ancient Olympia, offers a one-kilometre long white sand beach to the west, a canal to the east and the Alfios River to the south that physically links the site to ancient Olympia. Upon completion, the developers claim that the Olympia Resort will be the country's only true 5-Star resort and the first 18-hole Nick Faldo signature golf course in Greece (including the golf school). Europe remains an important focus for the firm's activity and Faldo Design is currently designing courses in Greece, Ireland, Russia, Cyprus and elsewhere.

In the Ionian islands, there are plans for the development of the Arkoudi Resort on the privately-owned island of Arkoudi, north of Cephalonia, which was sold by a Greek shipping family to the island's new owners/investors. The investment will reportedly EUR 88 million.

Swiss Golf Invest AG: And Golf of Zante, on the western side of the isle of Zakynthos, is a 27-hole golf resort (the so-called "Gold of Zante Premium Golf Club") being planned by Swiss Golf Invest AG, a Sempach-Stadt, Switzerland development group.

  ABP Plus International SA (G. Paraskevaides Group): In Soros, Volos, ABP Plus International SA, an development company based in Athens that is part of the G. Paraskevaides Group, is at the present developing the Apollo Golf and Spa Resort, a EUR 250 million multi-component destination resort with a 150-room 5-star hotel, top-quality luxury villas, a conference centre, a golf course covering 1.2 million square kilometres, a thalassotherapy and health centre, a heliport, facilities for a regular sea-plan arrival facilities, and a marina with 150 slips. The area is famous for the 5,000-year-old Acropolis of the ancient city of Amfanas, while the entire project is expected to create 800 jobs. ABP Plus has a notarial pre-agreement with ATHEX-listed Heracles General Cement Company SA, a member of France's Lafarge Group, the world leader in building materials, to purchase 378,000 m2 for the development of the resort and real estate. The golf land belongs to the municipalities of Iolkos and Portaria and has been leased by the developers for 50 years. The developers expect to start digging in December 2006 or early 2007.

In the village of Nies, near Volos, Greek-Canadian investors, the Holy Metropolis of Dimitrias and Almyros as well as the surrounding municipalities in the Magnesia prefecture are in the process of developing a golf resort with a 5-star hotel, an 18-hole golf course, a sports and horse-riding complex, a conference centre, a good number of high-quality villas and other amenities. The project's architect and hotel operator will soon be announced. The development is under the jurisdiction of the Municipality of Sourpi. The EUR 160-200 million project will be developed on a plot of land belonging to the Church. The developers hope to commence construction in September 2005, according to Panagiotis Georgiadis, the mayor of Sourpi. The idea for this new development was conceived in 2000. G.R. Golfing Resorts, developers of the Kilada Hills Golf & Spa Resort in Argolis, is also believed to be involved in this project, which covers approximately 1.2 million m2 with a 2,500 m2 seafront at a distance of 2 hours and 45 minutes from the Thessaloniki International Airport - "Macedonia". The necessary supporting permits and options have been secured, together with the submission of documents for the first stage Environmental Impact Study. Toronto, Canada-based Four Seasons Hotels and Resorts is rumoured to be interested in managing this resort.

In Volos, at the Municipality of Iolkos, a tourism complex with an estimated total expenditure of EUR 250 million is being developed. The investment will include the construction of a luxurious hotel complex comprising 150 five-star rooms, villas, and a convention centre, a golf course of 120 hectares, a thalassotherapy centre, a heliodrom and a marina with a capacity to accommodate 150 boats. It is estimated that this operation will create 800 new employment positions.

Albatross Investments & Developments Pty. Ltd.: In Margariti, Thesprotia in North-West Greece, the Belltower Golf and Residential Development, an integrated golf, spa, leisure, tourism and real estate resort, is being planned by Greek-Australian developer Albatross Investments & Developments Pty. Ltd. Located in over 2,500,000 m2 of sweeping Mediterranean, Tuscany-like panorama, the resort is supposed to include an 18-hole golf course, 200-room, five-star hotel, restaurants, bars, convention centre, spa and health centre, gymnasium, executive learning centre, tennis academy and soccer academy. Tony Cashmore of Antony Cashmore & Associates Pty. Ltd. and Malcolm Davidson from Australia are involved in this new development, which is located between Pargas and Igoumenitsa.

Tourism Development Company SA: A new tender for the complete re-do of the Afandou Golf course on the island of Rhodes is expected soon, a project expected to upgrade the existing property to international standards.

Municipal Company of Glyfada: In addition, it has been advised by experts that the 18-hole, municipal Glyfada Golf Course in Athens will need to be renovated. A number of other potential projects including a golf course near the Athens International Airport, are reported to be in varying stages of readiness.

Island of Arkoudi SA  On Arkoudi island in the Ionian Sea, between Cephalonia, Lefkada and Ithaki, a high-standard tourism investment in an area of 400 hectares is underway. The estimated total expenditure is EUR 88 million. This investment, expected to create 300 new employment positions, will include 140 luxurious accommodation settlements, marinas, spas, an 18-hole golf course, and other sports facilities.

Greenwell Golf & Leisure Projects: In Crete, the Matala resort, a tourism investment of EUR 250 million, is planned.for a  high-standard tourism unit that is expected to create more than 300 positions for permanent and seasonal employment.

Cretan Golf SA  British PGA professional Harris Zervos, General Manager of The Crete Golf Club in Hersonissos, that opened in 2003, says that Crete is especially suited for becoming a golf destination, since "we have the land, we have the very good 5-star hotels and we have the mild, non-humid winters with the perfect golf weather." The Club's busiest months are March through May and September through November. October had the highest attendance accounting for 28% of the yearly annual green fees. presently, 70% of the Club's clients are from Germany. Athens-based attorney-at-law Michael Vranas has been the visionary moving force in opening the way for The Crete Golf Club and the new era of golf development in Greece. He is currently the President of the Club. Cretan Golf SA ("Kritika Golf AE") owns the 18-hole, par 71 Championship standard course on a 720,000 square-metre site. Vranas is currently coordinating the acquisition of bordering or nearby plots of land in view of constructing villas to offer either for sale or rent. Future plans include the construction of at least two more golf courses at a short distance from the Club. The current Greek administration has from the beginning prioritised the creation of a favourable investment environment. The 'unblocking' of these investments will attract the interest of businesspeople from abroad who will be convinced that Greece, as a destination country, favours investments and pursues business-oriented policies. It is  believed that the implementation of large and high-quality investments will radically change the business climate."