Greek Tourism: Less Popular Destinations Shine; Strong Short-Term Leasing Demand

Lesser-known islands, the Peloponnese and northern Greece have emerged as increasingly popular for travelers renting accommodations for the 2024 season through short-term lease platforms, such as Airbnb. After a surge in demand for short-term rentals last year initial indications suggest that this trend will continue, pointing to a boon this year.

January saw a robust start, as Airbnb occupancy rates surged between 80% to 90%, setting a strong tone for the year. February continued the upward trajectory, indicating a sustained trend ahead.

Travelers are showing a keen interest in exploring less mainstream island destinations. The saturation and price spikes in popular tourist spots have redirected attention towards regional areas, notably Tinos, Serifos, Skopelos and Thassos.

Northern Greece, particularly Kavala, is witnessing significant demand, while flood-damaged Pelion is making a notable comeback, particularly favored during the summer season. The coastal regions of the Peloponnese are increasingly captivating foreign tourists.

However, the outlook for Mykonos and Santorini is less optimistic. These islands, which experienced a decline in occupancy levels in 2023, are continuing this trend in 2024. Current bookings indicate a downward trajectory, with Santorini marginally ahead in this decline.

In the broader European context, the short-term rental market, including Airbnb, thrived in 2023, witnessing a remarkable 20% surge in demand compared to pre-pandemic levels in 2019.

Greece remains a cost-effective option on Airbnb compared to more developed tourist destinations in Europe like France, Italy, Spain, and Portugal. Simultaneously, it maintains a higher standard of service compared to budget-friendly destinations in the Eastern Mediterranean, such as Egypt and Turkey.

Source: tovima.com