One of the world's hottest tourist spots has a new problem - and it isn't overtourism. Despite a surge in tourists, Greece is grappling with a spending crisis. The European Union holiday favourite has seen a rise in tourism this summer, but locals not feeling the economic benefits of the crowds as they once did.
Tourists are leaving earlier than they used to, spending less time in certain parts of the country and also less cash. In May, total tourism revenue climbed by 6.8 per cent, while arrivals surged by 21.
3 per cent. However, fresh figures from the country's national Bank show that the average spend per trip plummeted by 12.2 per cent.
Every summer, Brits descend on Greece for holidays - from the idyllic islands of Santorini and Mykonos to Rhodes, Kos, Corfu, Crete, Lesvos and beyond. The mainland, including the historic capital city Athens, is also a top pick. The trend of dwindling spending per trip kicked off last year.
According to data from the Bank of Greece for 2023, international travellers shelled out an average of 570.7 euros per trip, a drop of 3.5% or roughly 21 euros compared to 2022.
A further cut of 3.6 per cent is predicted to bring the average expenditure down to around 550 euros. Additionally, the average length of stay per trip fell by 11.
2 per cent last year. Tourism in Athens has seen a significant 7 per cent decline in spending per trip over the past two years, a trend that's particularly alarming given the current climate of rampant inflation and r.