Short-term rentals overnight stays in Greece during Q3 2024 up 66% from 2019

The number of short-term rentals overnight stays in Greece, booked on online platforms (Airbnb, Booking, Expedia Group, and Tripadvisor), increased by 16% in August 2024 compared to the corresponding month of 2023, according to a Eurostat survey.

This increase is at the lowest rate of increase among European countries but is in line with the upward trend observed in the same month in all European countries, with Malta (+41.1%), Germany (+32.7%) and France (+29.9%). Croatia (+9.7%), Bulgaria (+12.2%) and Slovenia (+13.6%) are the most affected.

In Europe, August was the best month of the quarter as it recorded the largest increase in overnight stays (+21.6%), as expected, as it is the most “touristy” month for Europe, with a total of 152.2 million. However, demand was higher for each month, with July recording an annual increase of 16.4%, with a total of 135 million overnight stays, and September +14%, with 79 million. overnight stays.

Europe's 8 "winners" in the summer quarter

Overall, in the third quarter of 2024, 366 million overnight stays in short-term rental accommodation in Europe were recorded through platforms, marking an increase of 18% compared to the corresponding quarter of 2023 (310 million) and having far exceeded the levels of 2019 (230 million). Over the last four years, this increase has been systematic, with 2021 recording an increase of 33.3% (202 million), in 2022 +34.8% (273 million) and in 2023 +13.8%.

Greece also appears to be benefiting from the broader rise in demand in Europe, becoming one of the most popular short-term rental destinations in the old continent in the summer of 2024. Specifically, it was one of the 8 most popular destinations in the EU, having developed great momentum in recent years, with an increase in overnight stays in the third quarter by 13% compared to 2023 and by 66% compared to 2019. Specifically, from 15 million in the third quarter of 2019, short-term rental overnight stays in Greece reached 20 million in the corresponding period of 2022, approximately 22 million in 2023, and 25 million. in the third quarter of 2024.

The momentum shifts toward the “shoulder season”

The trend of modern travelers seeking vacation options during the transitional months of the season, after the summer, with the aim of avoiding high temperatures, crowds, and alternative getaways, is also evident in the demand for short-term rentals. In 2024, a shift in demand dynamics was observed, especially in Eastern Europe, towards the shoulder season (September, October, and November), as revealed by AirDNA data. According to the same data, Greece experienced one of the largest increases in demand levels during this period (+20.1%), after Poland (+29.9%), Norway (+27.4%), Hungary (+23.9%), Germany (+23.1%) and the Czech Republic (+22.9%).

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