Tourists Abandon Holiday Hotspot, Leaving Owners in a Lurch

Greece, an evergreen favorite among travelers, has recently found itself facing a surprising dilemma—not overtourism, but rather a significant spending crisis. While the summer saw an influx of visitors flocking to its sun-kissed shores and historical wonders, locals are feeling the pinch, as the economic benefits from these crowds are not what they once were.

This summer, tourism in the European hotspot soared, with a reported 21.3% increase in arrivals. Despite this surge, the financial take from each visitor is showing a concerning decline. In May alone, the total revenue from tourism climbed by 6.8%, yet fresh statistics from the country’s National Bank revealed that the average spend per trip has plummeted by 12.2%. This trend is troubling for communities that rely heavily on tourism revenue.

Every year, countless Brits choose Greece for their summer getaway—whether it be the picturesque islands of Santorini and Mykonos or stunning locales like Rhodes, Kos, Corfu, and Crete. Even the bustling mainland, particularly the historic capital of Athens, remains a favored destination. Last year marked the beginning of a downward trend in spending, and the latest data from the Bank of Greece highlights this. International travelers spent an average of 570.7 euros per trip in 2023, which is a decline of 3.5% compared to the previous year, with forecasts suggesting this figure may further decrease to about 550 euros.

Moreover, visitors are staying for shorter periods, with the average duration of trips shrinking by 11.2% over the past year. In the capital, Athens, there's been a notable 7% drop in spending per trip, a significant concern amidst soaring inflation and rising living costs. Mayor Harris Doukas has vocalized his fears about the potential implications for tourism and local communities, noting that each visitor only brings about 0.40 euros to the city—the benefits of which have yet to materialize.

Even more revealing are the staggering figures from last year, which recorded a whopping 33 million tourists visiting Greece—more than three times the nation’s total population. This boom has exacerbated challenges in the most