Two of Greece’s most popular and iconic tourist destinations, Mykonos and Santorini, recorded a second sluggish year for their standards, according to data released by Greece’s statistical authority (ELSTAT).
More specifically, Santorini experienced a drop in revenue in August amounting to €69.4 million compared to €71.1 million in August 2022. In contrast, Mykonos experienced a marginal increase of 4.6%, reaching €99.3 million, up from €94.9 million.
Some tourism market pundits posit this downward trend could be attributed to over-tourism, saying the large crowds visiting these islands are resulting in visitors unable to relax and enjoy their holidays, especially when venturing out of their hotels or accommodations.
Traditionally, July and August are peak months for the tourist season, yet the anticipated results for both islands were not achieved this year. Despite the drop in foreign tourists, Greek visitors filled a significant portion of the gap left behind.
As the figures reveal, August was slow, failing to meet the high expectations of the tourism sector more broadly. Market experts suggest that high prices, combined with overall inflation, may have played a role in this disappointing outcome.
Meanwhile, these negative trends for the islands are backed by statistics regarding passenger traffic in Mykonos and Santorini.
In September, the number of passengers traveling through Mykonos Airport from international destinations reached 171,560, down from 188,461, marking a 9% decrease compared to the same month last year. Over the nine months, a total of 1.019 million foreign visitors were recorded, down from 1.064 million, representing a decline of 4.2%.
In contrast, Santorini is charting a different course, as this year’s performance shows positive signs following last year’s somewhat weak results. However, the tourist season did not meet expectations, primarily due to external factors such as inflation and geopolitical tensions. A lack of infrastructure and the high cost of living in Greece, especially in the dining sector, have led visitors to seek more affordable options.
