Mastercard Reports Shift to Low Season Travel in Europe

All the more travelers are choosing to holiday in the shoulder season particularly when it comes to Mediterranean destinations like Greece, Croatia, Portugal, and Italy.

According to the Travel Trends Report conducted by the Mastercard Economics Institute, which assessed anonymous transaction data for 2024, the shift appears to be the result weather and social factors. Among others, the report cites an increase in pensioners and families with more free time on their hands.

Indicative of the trend, European travelers are adding an average of two extra days to their holidays, double the global average. The trend, Mastercard analysts said, is driven by affordable prices and warmer weather.

According to Mastercard Economics Institute Chief Economist for Europe, Natalia Lechmanova, the share of overnight stays in the EU during the shoulder season (May-June and September-October) has increased by 1.8 percentage points over the past decade.

The report goes on to add that despite inflation and higher post-pandemic interest rates, tourism activity in Europe is going strong, driven in large part by travelers from the US.

In 2023, the number of overnight stays in Europe came to 2.91 billion, up from 2.88 billion in pre-pandemic 2019.

In addition to Greece, where inbound traffic from the US is expected to peak this year, US tourist arrivals have also increased in Spain, Portugal, and the UK.

In terms of top summer destinations this year, the report places Munich in the lead, followed by Tirana, Nice, Corfu, and Istanbul. Cheaper seaside destinations in Albania, Croatia, and Turkey are seeing significant increases in air traffic.

The Greek Tourism Ministry has prioritized the extension of the tourist season which appears to be paying off. According to central bank data, the number of international arrivals to Greece in January and February – two off-season months – increased by 20.7 percent compared to the same period a year ago.