Greece is closely watching potential U.S. tariffs on the European Union, fearing secondary economic impacts, particularly on tourism. While Greek exports to the U.S. are relatively small, officials worry that a trade war could reduce European consumer spending and harm Greece’s vital tourism sector. With rising competition for Greek goods, the government is focusing on boosting investment and exploring new markets.
Tag: economic impact
Turkey is facing a tourism downturn as rising costs drive budget-conscious travelers to choose Greece instead. With hotels in popular destinations seeing fewer bookings, experts warn that Turkey’s reputation as an affordable holiday spot is at risk. While some discounts are being offered, inflation remains a major challenge, though there’s hope for recovery as the economy stabilizes.
Ferry ticket prices in Greece are set to rise by 15% due to new EU environmental regulations focusing on Mediterranean emissions. This adjustment reflects increased operational costs for ferry operators, as they grapple with higher expenses for emissions control and eco-friendly technologies. With these changes expected to significantly impact pricing, passenger traffic may decline, posing challenges to Greece’s maritime industry and economy.
Greek drivers are flocking to Bulgaria for cheaper petrol after Bulgaria and Romania joined the Schengen zone on 1 January 2025. With border checks removed, crossings are seamless, and motorists are saving up to €26 per full tank, as petrol prices in Bulgaria are €1.28 per litre compared to €1.80 in Greece. While the move boosts trade and tourism, concerns about smuggling and security linger.
Greece’s economy is facing potential disruption as new tourism regulations could jeopardize the country’s vital…
The iconic Greek periptero, a cornerstone of urban life for over a century, is rapidly vanishing from cityscapes across the country. These small kiosks, once vital hubs for news, cigarettes, and snacks, have seen their numbers plummet by 56% since 2010, leaving behind empty shells that evoke a bygone era. Facing fierce competition from supermarkets, convenience stores, and delivery apps, as well as shifting consumer habits, the periptero struggles to retain its place in modern Greece. Yet, its legacy as a symbol of resilience and micro-entrepreneurship endures, offering a poignant reminder of simpler times.
Greece’s tourism sector is poised for major changes in 2025, with new tourist taxes and increased fees aimed at generating revenue and managing overtourism. While this move follows a global trend, it raises concerns about the country’s competitiveness as a tourist destination. As Greece anticipates welcoming a record 38 million visitors, there is pressure to ensure that tourism benefits are more evenly distributed across its regions. Balancing investment and strategic planning will be key to sustaining and expanding the industry’s success.
Greece is facing a critical shortage of foreign workers in its tourism, construction, and technology sectors, threatening economic stability. Bureaucratic hurdles and legal complexities are delaying the hiring process, leaving essential roles unfilled. Collaboration between government, businesses, and recruitment platforms is crucial to overcoming this labor crisis and ensuring a prosperous future.
Greece faces a significant backlog of over 270,000 pending residence permit applications, impacting labor market dynamics amid acute shortages. Concentrated predominantly in the Attica Directorate, this delay exacerbates economic challenges, including substantial losses in agriculture. Efforts to expedite processing and calls for streamlined entry requirements are underway to address the critical need for foreign workers.
Tourism revenues in Greece dropped 1.8% in August 2024, despite a 6.6% increase in visitor arrivals, according to the Bank of Greece. This marks the second consecutive month of decline, raising industry concerns. Contributing factors include reduced tourist spending on non-hotel expenses, the rise of short-term rentals like Airbnbs, and higher airfare prices. As September approaches, stakeholders are monitoring the situation for signs of recovery.
Greece experienced a surge in tourism during the first half of 2024, welcoming nearly 18 million international visitors, according to the Bank of Greece. Despite this increase, the average spending per trip declined, falling from €618.9 to €583.9. Notably, while arrivals from major markets like Germany and the UK rose, tourist spending saw a significant drop, particularly in July, highlighting a complex trend in the country’s travel industry.
The 88th Thessaloniki International Fair (TIF) kicks off this Saturday with a high-profile inauguration by Greek Prime Minister Kyriakos Mitsotakis and German Vice-Chancellor Robert Habeck. The fair, which will run from September 7-15, promises an extraordinary display featuring 500 drones in Greece’s largest drone light show.
Rising costs are deterring tourists from visiting the Cyclades. Soaring ferry ticket prices and accommodation costs have led to a decline in visitors, especially Greek families. The once popular island destinations are now facing an uncertain future.
Fewer Greeks opted to travel domestically over the recent three-day weekend, according to Lysandros Tsilidis,…
During the Hellenic Hoteliers Federation’s 2nd Regional Conference held in Heraklion, Crete, on Tuesday, Federation…
A recent report by the Mastercard Economics Institute reveals a significant shift in European travel…
An analysis by the World Maritime Forum, an international non-profit organization based in Copenhagen, highlights…
As Greece gears up for what promises to be a record-breaking year in tourism arrivals…
Vassilis Korkidis, President of the Piraeus Chamber of Commerce and Industry and the Regional Chamber…
Greece stands out as a top destination in a recent survey conducted by the European…