Eurostat: Greece Sees Significant Rise in Holiday Package Prices, Outpacing EU Average

Photo source: Eurostat / Alexander Chaikin, shutterstock

Holidays in Greece are increasingly becoming a luxury, as confirmed by recent data from Eurostat.

According to the EU’s statistical authority, the average consumer price for holiday packages in Greece rose by 7.7 percent in July compared to the previous year. This increase is higher than the 6.6 percent rise observed across the European Union.

Notably, in the EU, the rate of increase for residents (domestic holiday packages) was significantly higher than for foreigners — 11.1 percent against 5.7 percent. [Eurostat has not provided a detailed analysis of these figures by individual countries.]

According to Eurostat, the price of package holidays, which include all expenses such as travel, meals, excursions, and sightseeing, has been rising across the EU since August 2021. The annual rate of increase exceeded 10 percent in most months throughout 2022 and 2023. In particular, domestic package holidays saw a price surge in 2023, with the annual inflation rate surpassing 20 percent for seven months in that year.

In July 2024, most EU countries reported a positive annual inflation rate for package holidays sold within their respective countries. The highest increases were recorded for the packages purchased in France (+22.2 percent compared with July 2023), Italy (+19.5 percent) and Cyprus (+16.7 percent).

In contrast, three EU countries reported a negative inflation rate for holiday packages: Malta (-2.9 percent), Finland (-2.7 percent) and Denmark (-0.2 percent).