The UK’s recently inked memorandum of understanding with Greece is a giant step forward for the tourism industry in both countries. But it has also provided Britain with something more valuable: a template for future UK relations with other European states, and a glimpse at the untapped potential of its own tourism industry post-Brexit.
At its core, the memorandum’s chief benefit is its update to touristic relations between the two countries. The five million Brits who visit Greece each year no longer exclusively seek a beach holiday: data shows that Greece’s culture, hyper-local experiences, and stunning scenery are all critical for British visitors. The memorandum acknowledges this, with a commitment to “diversify both countries’ offerings”, with a focus on “special interest tourism.”
Greece, too, has profoundly changed over the past decade. It has attracted international capital and talent, expanded its technology sector, improved higher education, and built a more competitive, outward-looking economy. The memorandum’s promised boost to “investment opportunities” and support for “digitalisation and innovation” for the country’s €23 billion tourism sector is welcome, and should also help Greece benefit from the expansive tech skills network in the UK.
The real significance of the agreement, however, extends beyond its short-term benefits. This memorandum is a model that outlines the potential of practical, sector-by-sector cooperation with European partners where interests align. Tourism is an obvious place to start, given the lucrative £80 billion sum which British travellers spend abroad each year (double the figure that international tourists spend in the UK).
Similar agreements with British tourism destinations such as Spain, Italy and Portugal would encourage innovation and respond to changing travel trends without reopening wider political questions around sovereignty or sweeping trade deals
For Greece, the agreement offers an opportunity not only to strengthen one of its most important industries, but also to tap into the UK's deep pool of expertise in travel technology, digital services, and innovation. Closer collaboration will help Greek tourism businesses benefit from the UK's expansive tech skills network, accelerating the adoption of new technologies that improve visitor experiences, productivity, and competitiveness.
Similar agreements with British tourism destinations such as Spain, Italy and Portugal would encourage innovation and respond to changing travel trends without reopening wider political questions around sovereignty or sweeping trade deals. Post-Brexit success will not be built through grand trade agreements, but through dozens of targeted partnerships that solve practical problems and create commercial opportunities.
But ambition must be matched with commitment. How the UK Government delivers on its promise of digital innovation, sustainable tourism, workforce development, and investment will determine whether this becomes a meaningful partnership. Memoranda of understanding are flexible, deliberately so, but that is also their greatest weakness.
This memorandum offers no measurable targets, implementation deadlines, or dedicated funding, leaving many of its principal commitments dependent on future political will. This is an uncertain prospect for both countries, given the lack of detail from incoming Prime Minister Andy Burnham on foreign policy to date.
However, this announcement is evidence that the UK and Greece are forging a renewed partnership that reflects Britain's post-Brexit diplomatic reality and Greece's strong economic performance under a reform-minded government. It demonstrates the growing confidence between the two countries and the opportunities created by Greece's increasingly attractive investment environment and outward-looking economic agenda.
Whether this partnership fulfils its potential will depend on the political will of the UK government, and its ability to build on this momentum through practical, long-term agreements that secure the futures of British and Greek industry over the long term.
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