Greece cracks down on excessive tourism

Restrictions on short-term rentals and cruise ship traffic could hurt vital sector, hospitality industry warns

Greece has announced plans to tighten regulations on short-term vacation rentals and cruise ship traffic as part of efforts to tackle a growing problem of overtourism. However, industry leaders have expressed concern that these measures could negatively impact a vital sector of the economy, especially as the country is set to welcome a record number of tourists this year.

Key takeaways

• A report by Grant Thornton for the Greek Hotel Chamber found a 28% increase in vacation rentals between 2019 and 2023, with the number of available properties doubling in that time;
• In contrast, the availability of hotel beds will increase by only 3.5%. According to Chiou, short-term rentals represent only 2% of the total rental market in Athens, based on data from his association;
• The government also announced a climate crisis tax on hotel stays and short-term rentals from April to October, with revenue earmarked for infrastructure improvements in tourist-heavy areas.

Get the full story at The Financial Times