BUSINESS

Reluctance to spend on holidays

TAGS: Tourism

Spending on holidays and traveling is now second to health and safety due to the pandemic, according to an online survey that GlobalWebIndex (GWI) conducted across 14 countries.

The findings of the survey regarding the five main markets for Greek tourism were processed and presented on Thursday by the Institute of the Greek Tourism Confederation (INSETE) and showed that the share of people who postponed or canceled their holiday expenditure came to 40% in Germany, 44% in Britain, 47% in the US, 41% in France and 50% in Italy. One in two respondents in those markets said they do not intend to go on holiday abroad, with economic restraints being a major concern.

Nevertheless, come the time that normality resumes, the most common answer to the question about people’s spending priorities includes traveling: Some 20-30% of the population in those key tourism markets prioritize traveling, which is below the rate of those who have postponed or canceled such plans, which is in accordance with people’s concerns about the impact of the pandemic on their financial situation as well as their health worries.

Importantly for Greece, a sense of security ranks top for all countries surveyed (except Germany) among the main factors in selecting a holiday destination.

Online