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Greek holidays in demand despite economic crisis

Despite warnings from travel operators and the threat of economic meltdown, bookings for Greek holiday packages are on the rise.

According to figures from the website Travelzoo, bookings for all-inclusive holidays to Greece have increased by almost a third in the last few weeks. Greece relies heavily on tourism as a source of income, more now than ever as the debt-torn country faces financial ruin.

The country could be preparing for a eurozone exit, which has caused concern for a number of people who have already booked their trips there. However, official tourism bodies claim that it would be a while before a new currency would be developed, allowing euros to continue circulating.

“It is a positive sign for the tourism industry that bookings to Greece are up significantly, in spite of widespread speculation about the Greek economy and stability in the eurozone,” Stephen Dunk, the European managing director of Travelzoo told the Telegraph. A growing number of holidaymakers are taking advantage of the low rates which Greece has to offer. A number of tour operators have significantly reduced their Greek holiday prices, some by up to 60%, over the last few weeks, in a bid to entice sceptical holidaymakers.

Mr Dunk claims that the strength of the pound is another contributing factor to the recent rise in Greek holidays being booked. The pound is at its strongest level for three and a half years against the euro, putting more spending power in the pockets of British tourists. But while the number of Greek holiday packages being booked has gone up, searches for flights to Greece fell by 25% in the same period.

While British tourists may be keen to bag a bargain holiday, German tourists are much less confident. Thomas Cook recently reported that sales from German travellers to Greece have fallen by nearly 30%. If you are concerned about your holiday being cancelled, it would be advisable to take out travel insurance and review the policy to see exactly what you are covered for.

Date Created: 07 June 2012

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