Survey: Only Half of Greeks Plan to Take a Vacation This Summer

Photo source: Visit Greece

Only one in two Greeks are planning a vacation this summer, with one in three indicating “it will be shorter than usual”. Additionally, six out of ten plan to spend less compared to last year’s summer vacation.

The Greek Research Institute of Retail Consumer Goods (IELKA), surveying Greeks, notes that the main reasons for reduced vacation expenses and shorter vacations are directly linked to decreased disposable income due to inflation. Additionally, 50 percent and 48 percent of respondents cited increased ticket and accommodation prices respectively as reasons they may either forgo a vacation or shorten it this summer.

In addition to these factors, 37 percent of those surveyed mentioned that rising fuel prices were impacting their vacation plans this year, while 33 percent highlighted the rising cost of food as another significant consideration.

Only 3 percent of those surveyed reported “no changes” in their consumption behavior due to inflationary pressures. The following findings highlight significant shifts in consumer habits:

– 71 percent (down from 75 percent in 2023) have cancelled expenses related to entertainment, leisure, vacations, trips, and dining.
– 55 percent (similar to 54 percent in 2023) have reduced their spending at supermarkets.
– 49 percent (compared to 48 percent in 2023) have postponed expenses for car or home maintenance.
– 42 percent (down from 49 percent in 2023) have switched to alternative brand products instead of their original choices.
– 27 percent (compared to 32 percent last year) have delayed or stopped paying some bills.
– 16 percent (down from 17 percent in 2023) have increased their work hours or taken on a second job to boost income.