Ferry bookings in Greece are running 15% to 20% lower than last year in the lead-up to Easter, according to industry executives, as households scale back spending and travel demand softens ahead of the much-anticipated holiday.
The decline comes as Holy Week begins next week, with operators already seeing weaker demand compared with last Easter. Still, industry insiders caution that the comparison is not entirely straightforward: last year’s Easter fell later in April, when milder weather typically makes island travel more appealing, boosting demand significantly.
A tougher backdrop for travel
This year’s holiday season is unfolding under more strained circumstances. The war in the Middle East has added a layer of uncertainty, while a prolonged surge in living costs in Greece continues to squeeze disposable income.
Even so, ferry ticket prices have held steady, helped by recent government measures aimed at preventing further increases.
Behind the scenes, however, cost pressures remain intense. Fuel prices have more than doubled compared with pre-crisis levels, sharply increasing operating expenses for ferry operators and limiting their ability to bring fares down.
State steps in on mandatory discounts
A new policy framework introduced by the government is also reshaping the economics of the sector.
Ferry companies are legally required to offer discounted tickets to certain groups, such as students, children and people with disabilities. Until recently, operators had to absorb the cost of these discounts themselves, unlike other parts of the transport system where such concessions are state-funded.
Under the new scheme, the state will compensate operators for these mandatory reductions. The total cost is estimated at €56 million and applies across all maritime routes, from short ferry crossings to long-distance island connections.
Deputy Finance Minister Thanos Petralias said the measure corrects a long-standing distortion. He added that it brings ferry transport in line with other modes of public transport where similar discounts are already subsidized.
“A fluid situation” for operators
Industry leaders describe the current environment as highly fluid.
“It’s a constantly evolving situation,” said Panos Dikaios, CEO of Attica Group, one of Greece’s largest ferry operators, noting that companies are working closely with the government to avoid fresh fare increases.
Dikaios acknowledged that ticket prices remain a challenge for many travelers. “Fares are high, and part of the public is struggling to keep up,” he said, adding that operators themselves have little incentive to maintain elevated prices.
Despite the softer start to the Easter period, demand is still described as satisfactory given the earlier timing of the holiday.
Source: ot.gr
