From Flights to Futures: Greece and India Building the New Corridor of Growth

Where economic diplomacy meets experiential hospitality.

Zeus and Ganesh shaking hands. Created with DALL-E

When the Prime Ministers of Greece and India shook hands in New Delhi in 2024, they did more than strengthen political ties—they opened a new chapter in economic connectivity between South Asia and the Eastern Mediterranean. What began as high-level diplomacy is now translating into business, tourism, and investment. Greece, the historical bridge between Europe, Africa, and Asia, and India, one of the fastest-growing economies in the world, are together shaping a new economic and cultural corridor—one that promises shared prosperity, innovation, and opportunity.

This alliance is not built on size but on synergy. India, with its 1.4 billion people and booming middle class, has become the world’s fifth-largest economy and is projected to reach third place by 2030. Greece, emerging from a decade of reinvention, is now a gateway for investment, technology, and sustainable tourism across the Mediterranean. Together, they represent a compelling equation: scale meets strategy, heritage meets innovation.

An Economic Bridge Reimagined

The 2024–2025 period marked a turning point. In May 2025, Athens hosted the first India–Greece–Cyprus Business and Investment Forum, organized under the auspices of the Hellenic Ministry of Foreign Affairs and supported by Eurobank, the Indian Chamber of Commerce, and Enterprise Greece. The event gathered more than 300 business leaders from both regions, signaling the momentum behind the India–Greece–Cyprus Business Council (IGC)—a trilateral platform designed to facilitate trade, investment, and innovation across three strategic economies.

The Council’s goal is ambitious yet attainable: to double bilateral trade by 2030 and facilitate at least 50 cross-border investments in infrastructure, energy, technology, tourism, and financial services. “We are building not just a trade corridor, but a corridor of trust,” remarked Eurobank’s CEO Fokion Karavias during the forum’s keynote.

At the same time, the India–Middle East–Europe Economic Corridor (IMEC), launched during the G20 Summit, has placed Greece at the heart of a grander geopolitical vision. The corridor’s western branch—linking India through the Gulf, Egypt, and Greece to the European Union—positions the country as the natural maritime gateway for Indian goods, services, and people entering Europe.

Eurobank: Financing a Shared Future

At the forefront of this transformation stands Eurobank, acting not only as a financial partner but as a bridge-builder. With its strong presence in Greece and Cyprus, and institutional partnerships in India, the bank has emerged as a key player in this evolving ecosystem. Eurobank’s involvement in the IGC Council is both symbolic and strategic—it positions the bank as a reference partner for Indo-European business flows.

Among the initiatives already underway:

A forthcoming Eurobank representative office in Mumbai (2025), designed to support Greek and Cypriot companies entering the Indian market and vice versa.
Collaboration with India’s leading digital payment network UPI, paving the way for seamless cross-border transactions.
Structured financing and advisory programs to support Indo-Hellenic joint ventures in tourism, energy, and technology.

These moves echo Eurobank’s broader commitment to economic diplomacy—using finance as an instrument of connection, not competition. As Karavias noted, “India’s rise as a global powerhouse finds its natural European partner in Greece—a country that understands scale, resilience, and vision.”

Where Hospitality Meets Investment

Tourism has become one of the most promising pillars of this cooperation. The tourism and hospitality sector accounts for nearly 18% of Greece’s GDP and is now extending its reach toward the Indian outbound market—an audience of more than 28 million annual travellers and a spending power that surpasses that of American and British visitors combined.

The partnership is mutually beneficial. Greece offers an authentic, high-end tourism product rooted in heritage, gastronomy, and nature—while India offers a growing base of experience-driven travellers seeking meaning beyond luxury. According to the Greek National Tourism Organization, arrivals from India rose 36.5% year-on-year in 2023, a figure expected to double once direct flights between Athens and Delhi/Mumbai launch in early 2026.

Behind these numbers lies a shared philosophy. Both nations view hospitality not merely as an industry but as a cultural expression. In Sanskrit, the saying “Atithi Devo Bhava”—the guest is divine—echoes Greece’s ancient concept of philoxenia, the love of strangers. This shared mindset sets the stage for deeper cooperation in hospitality investment, sustainable tourism, and MICE (Meetings, Incentives, Conferences, Exhibitions).

Investing in Experience-Driven Hospitality

Several major hotel and resort brands are already exploring bilateral opportunities. Indian investors have shown interest in boutique hospitality developments in Crete, Rhodes, and the Peloponnese—regions known for year-round appeal and sustainable tourism practices. Conversely, Greek hotel groups are examining India’s emerging wellness, yoga, and cultural tourism sectors.

At the institutional level, Enterprise Greece and Invest India are finalizing a framework to facilitate joint ventures in experiential tourism, combining Greek destination management expertise with Indian market reach. Meanwhile, the Eurobank Group has pledged to finance hospitality projects that enhance Greece’s attractiveness to long-haul travellers—through digitalization, sustainability, and cultural integration.

For instance, the bank’s investment arm has identified more than €250 million in tourism projects eligible for blended financing under the Greek Recovery Fund, many of which can integrate Indian partners in operations, gastronomy, or technology.

A New Era for MICE and Cultural Diplomacy

Beyond leisure, the conference and business events sector (MICE) is rapidly evolving as a platform for bilateral engagement. Athens, Thessaloniki, and Crete are positioning themselves as “meeting points of civilizations”, hosting global conferences and academic exchanges. Indian pharmaceutical, tech, and shipping companies have already selected Greece for regional summits, attracted by its connectivity, cultural depth, and Mediterranean quality of life.

Cultural diplomacy adds another layer. The Hellenic–Indian Chamber of Commerce, the Federation of Indian Chambers of Commerce & Industry (FICCI), and the Confederation of Indian Industry (CII) are collaborating with Greek institutions to promote cultural exhibitions, gastronomy showcases, and “business-with-culture” events under the theme “Heritage as Hospitality.”

These events demonstrate a shift: from transactions to relationships, from deals to dialogues. It is no longer just about signing memoranda but curating mutual experiences that inspire investment and trust.

Case Study: The Atlas of Opportunity

An emblematic example of Indo-Hellenic collaboration is the Titan Group’s partnership with India’s UltraTech Cement through Atlas EcoSolutions, focusing on sustainable building materials. This initiative embodies the shared ambition to merge green infrastructure, innovation, and circular economy principles—a theme that also resonates across hospitality and tourism development.

Another example comes from the café sector: Greek brands Coffee Island and Mikel Coffee have entered India’s booming beverage market with plans for expansion across Delhi, Gurgaon, and Mumbai. Their success is symbolic—it’s not just about selling coffee, but about exporting a culture of connection.

The Promise Ahead

As Greece and India continue to deepen their ties, what emerges is more than a trade relationship—it’s a mutual reinvention of identity. Greece evolves from a sun-and-sea destination to a hub of global business hospitality, while India extends its economic reach westward with a partner rooted in cultural sophistication and European access.

With Eurobank financing the bridges, Aegean Airlines preparing the skies, and Enterprise Greece curating the partnerships, the narrative of Indo-Hellenic cooperation is turning into a model of sustainable growth.

Two ancient civilizations, two modern economies—now writing a shared story where light meets legacy.

This article is part of the “Journeys” chapter of GRtraveller @ WTM 2025 issue,
powered by Eurobank, strengthening cultural and business ties between Greece and India