Crete: A Touristic Boom Fueled by the New Kasteli International Airport

Crete’s tourism map is undergoing a full-scale transformation as the new international airport under construction in Kasteli, Heraklion, acts as a catalyst for billion-euro investments across the island. With the existing ‘Nikos Kazantzakis’ airport already operating at its limits, serving nearly 10 million passengers annually, the new project is progressing rapidly. The works have already surpassed 55%, and it is expected to increase passenger traffic in Crete by 20% in its early operational years. The enhancement of accessibility, combined with high demand for tourist real estate, highlights the development of Luxury Tourist Complexes—a form of investment that combines luxury hotels, tourist residences, and top-tier services. One emblematic project includes Dimand’s investment in the former American base in Gournes Heraklion, worth €85 million, which plans to create two hotel units along with recreational and wellness activities. Another significant investment is the Elounda Hills, valued at €800 million, featuring a 137-room hotel, 257 luxurious homes, and Greece’s largest private marina. Meanwhile, Sitia Bay Resort aims to bring Eastern Crete into the spotlight with a five-star hotel, marina, and golf course. Additionally, the historic Blue Palace undergoes renovations under Rosewood Hotels & Resorts, aiming to reopen in 2026. These strategic investments and infrastructure projects are positioning Crete among the top Mediterranean tourist destinations.