Panic in Greece as tourists warned ‘it’s happening in Spain now’ | World | News

Greece is facing a crisis that could also hit other Mediterranean countries such as Spain. In the country that gives confidence to tourists, the number of holiday homes exceeds hotel beds. New data shows a new record was set for short-term rentals in July, with the number of rentals listed on online platforms such as Airbnb reaching 245,944, representing a total bed capacity of more than one million.

This is according to data from the Hellenic Tourism Confederation Institute (INSETE). It is thought that there are around 900,000 hotel beds in the country. Reports suggest that this is changing the accommodation market and affecting traditional hotels.

This triggered concerns about local housing; native Greeks fear negative impacts on access to property and rising prices.

According to real government experts CBRE, the supply of hotel beds in Spain is 1,226,428.

In terms of vacation rentals, there are an estimated 351,000 properties in the country with 1.75 million beds, according to Terra Meridiana.

room monitor reported earlier this year that short-term rentals in Spain were growing ten times faster than hotels and were already offering more beds in many cities.

As a result, the country’s tourism model has experienced a “profound transformation”, the site added.

Statistics show that vacation rental bookings increased by 13.9% in the first half of 2024, compared to just 1.3% for hotels.

Greece has banned the registration of new tourist rental homes through 2024.

The measure only applied to certain neighborhoods in Athens, but in 2025, apartments located in areas such as Kolonaki, Koukaki, Pangrati and Exarchia would no longer be licensed.

Earlier this year it was confirmed that new Airbnb licenses in central Athens would be suspended until the end of 2026.

All holiday homes also need to be declared, illegal ones can be subject to heavy fines.

Tax benefits are also available for all property owners who switch their short-term rentals to long-term and permanent rentals.

Between January and October this year, the number of arriving passengers increased by 4.4% to 35,261. According to the Bank of Greece. Last year this figure was 33,788.

The number of passengers arriving from the UK increased by 6.6% to 4,684. The number of visitors from the USA increased by 2.0 percent to 1,397.