Transforming Athens’ Tourism Economy
Over a 12-month period, Sowen helped the agency reduce dependency on government grants and mitigate aid risks, as well as structure its assets and programs to diversify away from single channel national aid.
INCREASE IN LOCAL, NATIONAL AND REGIONAL FUNDING
37% increase
DIRECT B2B AND B2C REVENUE
50% Increase
AGENCY WORKFORCE
102% Increase
In 2018, the city created a new Tourism and Economic Development Agency, charged with bringing people and businesses to Athens and bringing Athens to the world. With about three years' worth of funding, agency executives had to quickly and efficiently identify independent revenue streams that mitigate the dependency on government grants and enable financial, operational freedom, and growth potential.
Over a 12-month period, we helped the agency build and launch a revenue strategy to incorporate Private-Public- Partnerships (PPPs), balance municipal and private sector interests, and provide an agile and commercial agency culture and operative model. We leveraged key metrics to better align to additional grant applications from local and national government grants previously unattained. We led the creation of B2C and B2B revenue streams, leveraging captured audiences and deep behavioral data. We helped the agency monetize both physical and digital assets and build business cases to secure national and EU funding.
Today, the city of Athens, Greece, is a bucket list destination for adventurers, vacationers, and seekers of sea, sun, and culture. The city’s tourism activities are a major revenue source for the city and a significant part of the city’s economic engine