Greece’s Ever-Expanding Tourism and the Curious Case of Cryptocurrencies

Greece: A Tourist’s Paradise

Picture this: crystal clear waters, sun-kissed beaches, and a vibe so chill you’d think everyone just finished a yoga retreat. Greece has always been a top contender in the world of tourism, drawing in wanderlust-filled souls seeking relaxation and adventure. In fact, before the world hit the pause button due to the pandemic, over 20% of Greece’s GDP came from sweet, sweet tourism dollars.

The Summer Surge of 2023

Fast forward to this summer, and the tourism numbers are off the charts. August alone saw nearly a million travelers landing on Greek shores every week, according to the raving report from Greek Minister of Tourism, Vassilis Kikilias. Clearly, everyone wants a slice of Greek mythos and baklava!

The Popular Beach Fronts

In a recent report by ForwardKeys, Greece secured six out of the top ten “sun and beach” spots in Europe, including the glittering highlights of Mykonos, Thira (Santorini), and Heraklion (Crete) – all places that sound a little too good to be true! On the urban front, Athens strutted its stuff, grabbing third place among European cities.

Crypto and Tourism: A Complicated Relationship

When it comes to cryptocurrency, Greece ranks sixth in the EU with 64 ATMs scattered across the nation, especially in Athens and Thessaloniki. Coincidentally, Bitcoin ATMs are also popping up in popular tourist spots like Mykonos and Crete, thanks to BCash operator, Dimitrios Tsangalidis.

The Surprising Tourist Dynamics

Here’s the kicker: while Mykonos and Santorini are magnets for tourists, the bulk of cryptocurrency transactions occur in mainland ATMs. The island of Crete, particularly the city of Heraklion, is buzzing with a dedicated crypto community, with local start-ups fostering a blockchain culture.

Tourism’s Ripple Effect on Crypto

Tsangalidis points out an intriguing contradiction: while tourism should theoretically boost crypto interests, the reality is a tad bleaker. “In summer months and high tourist seasons, the demand drops,” he explains. With locals on vacation, the traffic at ATMs is weathered down.

Room for Growth in the Crypto Space

Despite the challenges, Tsangalidis is optimistic yet realistic. He emphasizes the need for increased awareness about cryptocurrency in daily activities, saying, “Influence on local tourism can be noticeable only if there is a general adoption of cryptocurrency within society.” With minimal support from businesses and local governments, Greece has a long road ahead.

Blockchain for Safe Travels?

Interestingly, in May of this year, Angela Gerekou, head of the Greek National Tourism Organization, hinted on exploring blockchain technology to enhance safety and transparency in tourism. Perhaps a crypto-loving Greece is not as crazy as it sounds!