With the June 17 elections out of the way and political uncertainty removed, confidence in the Greek tourist industry has been restored. On June 18 a record number of holiday bookings to Greece was made.
According to Ekathimerini the Hellenic Chamber of Hotels noted a record booking of holidays to Greece just one day after the elections put an end to political uncertainty. The victory by New Democracy crushed the spectre of an immediate Greek exit from the eurozone, restoring confidence in the tourist sector.
A number of Greek islands benefited the most from increased bookings. Only Athens recorded a decline in bookings of two percent.
Another report from the European Cruise Council shows that Greece is the third most popular cruise destination.
Hotels in Greece have drastically slashed prices by an average 23 percent to appeal to international tourists, whilst luxury hotels have lowered prices by an average 15 percent. The domestic holiday market has slumped by 25 percent.
According to Travel Weekly tour operators used Greece's economic instability as an excuse not to pay hoteliers, due to uncertainly regarding the Greek banking system.
Even as bookings begin to pour in, the overall downturn in Greece's hotel revenues is expected to represent a drop of more than one billion euros in 2012.