Greece is riding a tourism wave like never before. Projections suggest that by 2025, the country might see over 40 million international visitors – roughly four tourists for every ten residents. This surge is certainly good for the economy, but it’s also bringing some tough times for the locals. Places like Rhodes and Santorini are feeling the impact of Greece’s tourism boom the most, where prices have gone up so much that everyday living, and even vacations, are becoming too expensive for many Greeks.
The Greek Tourism Tidal Wave
The Greek islands are really feeling the impact of this boom in tourism. In Rhodes, for example, we’re seeing about 117 overnight guests per local, every year. While this does boost the economy, it also pushes up the cost of living, especially when it comes to finding a place to live. A week in a beachside hotel on Rhodes during the busiest time of the year? That’ll set you back anywhere from €1,000 to €2,000 for a room that fits two people. Santorini isn’t any cheaper, with prices ranging from €800 to a whopping €4,000. And don’t think you’ll get a bargain with Airbnb – Greece is actually one of the five most expensive countries in Europe for Airbnb rentals, according to AirDNA’s figures.
This increase in prices, mainly because of tourism, has made going on vacation a distant dream for many Greek people. According to Eurostat, almost half of the population, about 46%, can’t even afford to go away for a week each year. That puts Greece second only to Romania in the EU for this particular problem. Most people can only dream of staying in hotels or guesthouses; it’s a luxury only about 10% of Greek households can really consider, or so say IELKA, the market research institute. Over half of Greek households are deciding to just skip vacations this year, and those who do often stay with family or keep their trips short and sweet.
The Financial Crisis’s Long Shadow
The economic problems that Greece has been facing only makes things worse. The country hasn’t fully recovered from the financial crisis that hit hard in the early 2010s. Back in 2009, Greek buying power was about 92% of what it was in the EU on average; but these days, it’s dropped to just 70%. In the first three months of 2025, the average gross income was around €1,415. Around half of those working in the private sector earn less than €1,000. At the same time, prices for things like places to stay, food, and getting around – which are being driven up by tourism – have risen to match those you would see on an international level, way faster than local wages.
How much it costs to get around just shines a light on the problem. A round-trip ferry from Piraeus to Syros for a family of three with a car can cost about €488 – that’s about three times as much as you’d pay for a similar trip from Barcelona to Ibiza in Spain. For many Greeks, these kinds of expenses are too much, which means they either can’t travel, or they have to choose the cheapest and most basic options.
A Growing Divide
Greece’s tourism boom has sort of created a clear difference. While those from other countries get to enjoy Greece’s sunny islands, lots of the locals can’t afford to experience their own country’s attractions. It’s true the economic benefits of tourism are undeniable. However, those benefits come at a price, perhaps. Because prices are rising due to demand from foreign holidaymakers, locals are finding themselves priced out of the housing and vacation markets, and this is only making the inequality worse in a country that is still dealing with the fallout from its financial crisis.
As Greece keeps welcoming millions of tourists, the real challenge is in finding a way to balance the money it makes with the well-being of those who live there. If nothing changes, the idea of a Greek vacation might just stay a dream for a large portion of the population.