Fewer travellers look to holiday in Greece

Prices of Greek packages down as demand drops

Prices of Greek holiday packages are expected to see at least a 10 per cent drop this summer compared with the same period a year ago as fewer holidaymakers from the UAE travel to Greece, according to travel companies.

At Al Futtaim Travel, holiday packages for Greece are 10-15 per cent cheaper this summer compared with the same period a year ago, according to Micky Bhatia, the company’s general manager.

“The threat of withdrawal from the Eurozone will definitely have an effect on the Greek economy and on the price of holiday bookings to the Greek Islands,” he said.

Travel and tourism’s direct contribution to the nation’s gross domestic product (GDP) touched €11.8 billion (Dh48.2 billion) in 2014.

“Outbound tourism from the UAE — after adjustment for expats leaves in home countries — will target the usual destinations with an added interest for Schengen countries, with the exception of Greece at this stage given the uncertainty around the Grexit,” said Chiheb Ben Mahmoud, executive vicepresident — head of hotels and hospitality group for the Middle East and Africa at real estate consultancy JLL.

“The uncertainty around the Grexit is related to the risk of potential social unrest — strikes — or the unavailability of some public services such as transportation and airport services, [as well as] banking services.”