Property owners and managers on Mykonos are offering steep discounts on Airbnb rentals in a bid to revive lackluster interest ahead of the summer season.
The sluggish pace of bookings for the Cycladic island—one of Greece’s most popular tourist destinations—is prompting both luxury and budget accommodation providers to take early action, despite it still being relatively early in the season.
Hospitality professionals operating on the island report that current booking levels are falling short of expectations, raising concerns about the upcoming summer months. Even the traditionally high-demand periods of July and August, which typically generate the year’s highest revenues, are showing signs of weakness.
A case in point is LuxuryLiving, a company managing nearly 200 villas on the island. The firm has slashed its prices by around 15% and is ramping up advertising efforts abroad in an attempt to lure visitors. “Since Easter, there’s been a significant dip in demand. And this trend isn’t limited to Mykonos—it’s affecting other regions too,” company sources said.
Industry insiders point to the erosion of Greece’s competitive pricing advantage as a key factor behind the slowdown. “Greece no longer offers cheap holidays like it used to. Rising taxes and operational costs have eaten away at that edge,” one industry source explained.
The balance between cost and quality has long been a defining feature of Greek tourism, they noted. But with major European economies like Germany, the UK, and France—key sources of tourists for Greece—facing financial headwinds, price sensitivity is becoming even more pronounced.
Compounding the island’s woes is the lingering damage to its reputation from viral stories about price gouging, which sparked outrage on social media and made headlines in international media.
Dip in Arrivals, Rising Competition
According to recent data from INSETE Intelligence, international air arrivals to Mykonos dropped by 1.6% in March. While the absolute figures remain modest, industry analysts see the decline as a sign of broader trends at play.
Meanwhile, regional competitors such as Turkey, Egypt, Croatia, and even Albania are aggressively courting tourists with lower-cost packages.
Source: tovima.com
