Construction permits for hotels experience a boom in the first semester 2017

During the first 6 months of this year, the construction permits issued for hotels amount for nearly the total of the last three years taken together.

INSTAT data show a boom in the hotel business, especially in the second quarter of the year, when 12 construction permits were granted in the category of hotels.

In the first quarter of the year, according to INSTAT, 5 construction permits were granted to hotels.

In 2016, less construction permits were granted than in the second quarter of this year, while in 2016, 2015 and 2014, together, 18 construction permits were granted for hotels.

It seems that the trend is clear, and that the market is adapting to the demand.

In the hotel sector, the demand is convincingly higher than the supply, causing a negative situation at a time when tourism seems to be in a “boom” period.

This situation, in turn, has also created a golden opportunity for businesses.

Hotel sector currently represents a very high potential for business exploitation.

Reduction of VAT on tourism for accommodating has been another impetus for the sector.

Despite the potential it offers, the market faces many difficulties, the core of which is lawlessness, accounting for over 90% of the market.

This means that more than 90% of hotel accommodation facilities in the country are informal and unregistered.

SCAN

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