Publication: Economic Profile: Municipality of Heraklion
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2024-10-25
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2024-10-25
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The municipality of Heraklion is located seaside along the Aegean Sea, on the north coast of the island of Crete. Heraklion is the fourth largest city in Greece, and the administrative capital of Crete and the Heraklion regional unit. The city’s historic center is encircled by Venetian walls, making the entirety of the old town a protected monument. Heraklion has a significant human capital base, owing to the presence of prominent university campuses and research institutions which lead cutting-edge research projects throughout Europe in a number of fields. Key sectors of focus and potential growth for the city include tourism, ICT and biotechnology. Tourism has been on an upward trajectory and is expected to grow in the next years, backed by the realization of strategic infrastructure projects (airport, port, marina) which are expected to expand tourism offerings across target segments and improve the value added of the tourism sector. Significant infrastructures and stakeholders are in place to facilitate increased tourism, with two major airlines and a cruise-style ferry line headquartered in the city. Meanwhile, Heraklion also shows remarkable potential in research and innovation, demonstrated by its top-tier research centers which lead projects across Europe, and its increasing business and economic support infrastructure leading to successful research commercialization particularly in the fields of ICT and biotechnology.
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“World Bank. 2024. Economic Profile: Municipality of Heraklion. © World Bank. http://hdl.handle.net/10986/42304 License: CC BY-NC 3.0 IGO.”
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