It may be mid-July and apparently many people are packing their bags for their summer getaways, but a significant number of Greeks, almost one in two, are unable to afford even a week of vacation.
According to recent Eurostat data for 2024, 46% of Greeks face this financial difficulty, among the highest in the EU and far exceeding the European average (27%).
This percentage (27%), which concerns the EU population aged 16 and over, represents a decrease of 1.2 percentage points compared to 2023, while it is 10.6 percentage points lower compared to 10 years ago.
Greece ranks second to worst, after Romania, where almost six out of 10 people cannot afford a week-long vacation, while Bulgaria follows, with the corresponding percentage at 41.4%.
A Research Institute of Retail Consumer Goods (IELKA) survey last month showed 52% of respondents do not plan to go on vacation this year, which demonstrates either the financial pressures many households are experiencing or the inability to take a vacation, possibly due to personal limitations.
Of a sample of 800 consumers, 48% intend to take a vacation, of whom 33% will take a limited vacation, while 14% state they will travel as they do every year. Only 1% will travel for more days.
The average vacation time for those who will eventually travel is 11.3 days, with the largest percentage, namely 31%, choosing to stay in their own vacation home. This is followed by staying in a third-party vacation home (23%), while two in 10 choose rented rooms. On the other hand, expensive options, such as all-inclusive hotels and cruises, have extremely low rates.
As for destinations, 60% choose mainland Greece near coastal areas, followed by the islands (28%), while mountainous mainland Greece is a choice for 12% of travelers.
However, the findings show a clear shift of consumers to domestic and more affordable destinations, possibly with the aim of avoiding ferry tickets. At the same time, a large proportion of travelers focus on saving money, as 50% state that they often cook on their vacations, while 62% often visit grocery stores, possibly in an effort to avoid the cost of dining out.
