12° Nicosia,
21 April, 2024

Greece tops yachting visits, yet revenue struggles

A surge in yacht visits elevates Greece as a maritime hub, but challenges emerge with minimal state revenue and potential impacts on the tourism landscape.

Kathimerini Greece Newsroom

In the last three years, Greece has become the country with the largest number of yachts (commercial and private) visiting, surpassing traditional leaders in the sector such as France and Italy.

However, this increased yachting activity brings little revenue into the state coffers, especially at a time when its customers are the vast majority of private individuals from the highest income category.

On the contrary, this overabundance of pleasure boats that sail in Greek waters, especially during the summer, causes serious problems that pose a risk to the country’s tourism product, both over the short and long term.

Experts report that there are three different categories of commercial pleasure vessels sailing in Greece’s seas: first, commercial pleasure vessels under the Greek and EU flags that operate and are permanently docked in Greece; secondly, commercial pleasure vessels over 35 meters long that mainly bear the flag of a country outside the EU and enter Greece and perform charters in Greek waters for a maximum of 28 days; and, thirdly, commercial pleasure vessels regardless of flag, which start and terminate their charter outside Greece, usually in Albania or Turkey, and spend the entire charter period in Greek waters.

Cyprus  |  Greece  |  shipping  |  maritime

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