Study: Greeks Hold Back on Summer Holidays Due to High Prices
High prices are forcing Greeks to take shorter holidays this year despite the pent-up desire to travel after two years of Covid restrictions, found a study released this week by the Athens Chamber of Tradesmen and conducted by Pulse RC.
More specifically, only 36 percent of those polled between June 22-24 in Attica said they would be going on vacation for the same number of days as last year, 29 percent said they would be opting for fewer days, and 25 percent said they would not be taking a summer break at all.
One in three respondents cited financial difficulties as the reason. To deal with soaring prices in fuel and energy, Greek consumers polled said they had cut back on the purchase of clothes, shoes, electrical appliances (26 percent) and reduced energy consumption (25 percent).
At the same time, seven in 10 people surveyed were pessimistic about the economy and cited energy and basic goods price hikes as causes for concern.
Asked about their views on the course of the Greek economy in the coming months, 68 percent responded negatively while 31 percent said they were optimistic.
Meanwhile, 60 percent of professionals questioned also expressed concern about their future. In the private sector, 48 percent of employees and the self-employed expressed concern about their future compared to 42 percent who said they were not worried.
Commenting on the findings, Chamber President Ioannis Chatzitheodosiou said the Greek economy and entrepreneurship had reached a critical point.
Chatzitheodosiou added that 42 percent of those polled felt government policies were in the wrong direction. He added that it was crucial therefore that policies were changed and taxes reduced to help households and businesses remain above water.
Having said that, Greece is not expensive for a holiday. We have just had the usual amazing holiday in Greece. Accommodation, food and drink prices, bus fares were unchanged from 2019. This article is probably more about internal costs and disposal income Greek residents?
With the Greek government long term bonds running at 3.54% compared to 0.95 for Germany I’m not sure how taxes are going to be reduced without over priced borrowing?