Sustainable Moorings and Environmental Impact

Greece is keenly aware that its image as a premier sailing destination lags behind its Mediterranean competitors, a disparity highlighted by a critical shortage of moorings and the urgent need to establish new shelters. This realization has galvanized the public sector to act, seeking to capitalize on the soaring global demand for yachting and turn this deficit into an investment opportunity by locating new assets to attract interest.

At the heart of this strategic shift is the Superfund, which is actively exploring ways to utilize a significant portion of the maritime portfolio it inherited from the Hellenic Republic Asset Development Fund (HRADF). The foundational step in this ambitious plan is the invitation to a strategy development consultant. This expert will be tasked with creating a comprehensive blueprint for maximizing the value of Greek ports and marinas, which includes proposing new investments.

The project mandates a thorough market analysis, an evaluation of current infrastructure, and the development of a plan for the restructuring of existing ports and the creation of new marinas, with a particular focus on the Attica region. The consultant will also be selecting which existing marinas will form the core "Maritime Portfolio," proposing potential new licenses, and mapping out the implementation steps for expanding the overall portfolio.

With a budget of €400,000 and a duration of up to four months (with a possible extension), this move signals that the Superfund is not merely looking to manage existing assets but is actively aiming at the restructuring and expansion of the Greek maritime landscape, placing new marinas at the very center of its strategic planning.

A recent study by ICAP starkly illustrates the problem, finding that the country requires at least 3,000 new berths to satisfy the ever-increasing demand from tourists and boat owners.

This precarious situation is confirmed by data compiled in a study on the spatial planning of tourist ports, prepared by the Association of Greek Marinas with the approval of the Ministry of Tourism. A direct comparison with other key Mediterranean players makes Greece's deficiency clear: the country currently offers only 61 marinas and 15,000 berths. In sharp contrast, Italy boasts 961 marinas and 181,000 berths, and Spain has 370 marinas and 130,900 berths. Even a main competitor like Turkey operates 80 marinas.

The study projects that by 2030, Greece could potentially have 10 new marinas, supporting 2,311 new berths for a total of 14,827 berths. While this improvement would still place Greece below Croatia and only slightly ahead of Portugal's current capacity of just over 13,000, it would provide an organized base for the development of maritime tourism. The ultimate goal is to close this significant gap and offer more places in the nation's network of shelters, anchorages, and hotel ports, finally giving Greece, a country defined by the sea, the appropriate space it deserves in the yachting world.

The economic impact of this expansion is substantial and provides a compelling rationale for the investment. It is estimated that for every €1 spent per berth, approximately €6 of economic activity are generated. The average tourist expenditure in marinas is 5 times higher than that of traditional hotel tourism, and the resulting VAT and rent revenues paid to the state exceed €100 million. Furthermore, the employment benefits are significant: every 100 berths create about 6 direct and 100 indirect jobs, underscoring the vital contribution marinas make to local economies.

The Superfund's decision to focus its initial efforts on Attica is well-founded. According to the Association of Greek Marinas, nearly four out of every ten pleasure boats arriving in Greece pass through the region. Attica is already home to several high-profile marinas. The Flisvos Marina, leased to Lamda Development, leads in turnover with revenues over €100 million. Astir Vouliagmeni and Olympic, controlled by Giorgos Prokopiou, and Zea Marina, owned by CVC Capital. Future growth like the upgrade of the Alimos marina by Ellaktor, a €100 million investment, and Lamda’s €25 million to upgrade the Agios Kosmas marina in Elliniko. The Athens marina in Neo Faliro is owned by Avax. This intense activity in Attica highlights the region’s importance as the nation's primary gateway for maritime tourism.

Visit 1852.gr to see sustainable practises implied on day cruises and private boat tours.