The Israel-Iran conflict is projected to cost Greek tourism at least €150 million in travel receipts, assuming hostilities cease within weeks and Israeli arrivals resume by July. Currently, all flights to and from Israel are halted, except for Israeli repatriation flights. Major Israeli travel agencies have canceled bookings to Greece through June, with cancellations now reaching into early July as of late Friday.
Should the conflict persist, cancellations will likely extend further. Prepaid bookings for Greek hotels in Greece will be credited for future trips or redeemed when travel resumes.
In a worst-case scenario, with hostilities continuing through summer and possibly into fall, losses could surpass €300 million. Per 2024 data from INSETE and the Bank of Greece, 621,000 Israelis visited Greece, staying 3.9 million nights and generating €419 million in receipts—2% of total arrivals and revenue.
Israeli tourists, high-value visitors, spend an average of €676 per person and stay 6.3 days, favoring Crete, Rhodes, Kos, Athens, and Thessaloniki. Despite a 42.3% rise in scheduled air seats from Israel to Greece (1.3 million seats) for 2025, the conflict jeopardjeopardizes these gains.
Additionally, Australian tourists are reconsidering travel to Greece due to Middle East transit routes. Many are rerouting via Singapore, while others are canceling or postponing holidays to next year, further threatening Greek tourism revenue.
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