Greece is one of the world’s most popular tourist destinations and it is facing an unexpected challenge, a spending crisis. 

While tourism numbers have surged this summer, the economic benefits for locals are not as significant as expected.

Despite a 21.3% increase in tourist arrivals in May and a 6.8% rise in total tourism revenue, recent data from the Bank of Greece reveals a concerning trend.

The average spend per trip has dropped by 12.2%, with international travellers spending an average of 570.7 euros per trip in 2023, a 3.5% decrease from the previous year. 

Predictions for next year suggest a further decline of 3.6%, potentially bringing the average expenditure down to around 550 euros per trip.

This decline in spending comes amid a decrease in the average length of stay per trip, which fell by 11.2% last year. 

Athens, the historic capital, has been hit particularly hard, experiencing a 7% decline in spending per trip over the past two years. 

The trend is troubling, especially in the current climate of rampant inflation and rising costs.

Athens Mayor Harris Doukas expressed his concerns in an interview with Euronews: “Each visitor brings €0.40 to the city, and we haven’t seen this money yet. 

“We need to find a way to make tourism viable.” 

He stressed the need for sustainable tourism practices that benefit both the city and its residents.

The situation is not limited to Athens. 

The increase in tourists is also impacting other popular destinations, such as the islands of Santorini and Mykonos, where the influx of visitors has led to a housing crisis and skyrocketing rents for locals. 

Professor Katerina Kikilia of the University of West Attica said: “Athenians face daily the social and environmental impact. The housing crisis is huge.”

In areas like Santorini, the effects of the spending crisis are palpable. 

Gianluca Chimenti, a local tour operator and resident for 18 years, said: “Although the streets are rammed to the rafters during the day, by night-time, the place is a ghost town.” 

He added: “The problem is that social media are showing something completely different from what is the reality. 

“The truth is that the island is empty. Right now is like never before, it’s the worst season ever.”