Greece tops European Airbnb destinations

Greece tops Airbnb’s list of destinations Europe in the third “gold” quarter of 2022, which is 26.5% more than in the third quarter of 2019.

Between July and September 2022, Greece recorded the biggest increase in demand in Europe, along with Germany, Austria and France, according to data provided by AirDNA.

In addition, demand in Europe has returned to levels before pandemics: the number of overnight stays in the first half of the year increased by 7.2 percent compared to the same period in 2019. Compared to the first half of 2021, the growth is 67.5 percent.

Full recovery

As demand levels in Europe returned to pre-pandemic levels, overnight stays increased by 7.2% in the first half of the year compared to the corresponding period in 2019. Compared to 2021, a corresponding increase of 67.5% was recorded.

Short-term rentals registered 3.2% more overnight stays in June compared to June 2019 (+52.9% compared to 2021), with Greece entering the top 20 with a 27.2% increase.

In terms of occupancy, Greece recorded the third largest growth (+8.4%), with demand up 27.2% respectively compared to 2019 and supply up 5.1%.

At the same time, with a growth of 1.3% compared to 2021, the average daily price was formed, while Greece was -1.1% for the 3rd quarter of 2022 compared to last year. The largest decline was in Finland (-24.2%), followed by Belgium (-10.5%). In contrast, Denmark recorded a growth of 14.9%.

dollar exchange rate

As AirDNA notes in its report, a stronger dollar against the euro could benefit the short-term rental industry in Europe, as trips to the Old Continent seem more attractive to international travelers who have been on holiday for the past two years due to the pandemic.

However, broader economic impacts related to monetary policy, exchange rates, war and inflation could “threaten” the short-term rental market outlook, while rising airfare coupled with airport congestion could be seen as a deterrent for those who wants to travel.

Greek tourism hits new record

Meanwhile, according to the data Athens Chamber of Commerce, the number of arrivals and incomes portends a general return tourism to a level even higher than in the “golden” 2019.

The bar in terms of travel revenue is now at 20 billion euros, confirming expectations another record year against the background of an unstable environment of inflation, rising prices and a pandemic.

Mainland destinations are slightly behind the islands in the race for demand, but tour operators are banking on last-minute bookings to catch up on previous months.

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