Greece to spend 520 million euros on tourism upgrades

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Greece’s government plans to spend as much as 520 million euros ($640 million) to upgrade tourist sites and hotels as it struggles to compete with Turkey and Egypt, the Financial Times Deutschland reported.

The cash, split in origin from a European Union fund and government money, will be used to modernize building facilities, the newspaper said, citing an interview with Tourism Minister George Pousseos.

Tourism contributes about a fifth of Greece’s economic growth, the FTD said.