A new trend or just a way for Greeks - and other Mediterranean nations - to cope with the reduced purchasing power that makes holidays a luxury, even an unattainable dream, in the midst of an inflationary crisis?

The reason is the staycation trend, the etymology of which comes from the English verb stay and the second synonym of the word vacation and describes holidays at or near home, instead of traveling to other places. This is the third time that necessity has brought this trend to the forefront, and it first appeared in the daily American morning newspaper, the Cincinnati Enquirer, in 1944, in a full-page beer advertisement suggesting staying home to enjoy it. So the first time a holiday at home became a suggestion was in 2008 in the US, when fuel prices soared, making leisure travel a luxury item. The coronavirus pandemic brought back the 'stay-at-home' trend and in 2024, the accuracy of essentials, fuel and ferry tickets makes home holidays fashionable. Reactions on social media were not long in coming up with a neologism to sugarcoat the unaffordable holiday pill.

Without Greeks on the Greek islands

A survey conducted by Focus Bari on behalf of the SETE Institute, shows that mainland destinations are by far the most popular choice of Greeks for holidays. It should be noted here that ferry ticket prices are up by between 40% (in the Cyclades and the southern Aegean) and 60% (in Crete). Attica and Central Greece, including Evia, are the most popular destinations, garnering 21% of preferences, followed by Macedonia with 19%. The Peloponnese occupies third place with 14%, while Epirus and Thessaly follow with 10% respectively. Thrace follows with 6% and at the bottom of the list are the Ionian Islands, Crete and Cyclades with 5% respectively. The islands of the North Aegean and the Dodecanese have lower preference rates with 2% respectively, while the Sporades have only 1%. Similarly, the strong preference for land-based means for domestic travel is reflected in the strong preference for land-based means, where land-based means dominate with 74%, followed by sea and air with 16% and 10% respectively.

3-star hotels are the most popular for domestic travel with 39%, while only 12% choose 5-star hotels, with hotel prices up by around 10% and the visitor being charged the new green fee, ranging from 3 to 10 euros per night on average.

Even the short-term rental solution, however, does not make it easier for those seeking accommodation in these establishments. Greece appears in the top five countries with the most expensive Airbnb in Europe in the summer of 2024, based on data collected by the observatory AirDNA. In the top 5, along with Greece, Iceland, Monaco, the United Kingdom and Spain. In our country, a nightly rental accommodation has an average price of 235 euros (in the Principality of Monaco it costs 261 euros), while it is only natural that Mykonos takes the lead with an average revenue per room of 755 euros.

The Institute of Consumer Goods Retail Research (IELKA) had researched the effects of price pressure on the favourite summer holiday habit of Greeks, before the term staycation invaded everyday life. According to the results of this survey, half of Greeks have decided not to go on holiday this summer due to the increased cost of tickets and accommodation, while even more among the participants (71%) have cancelled fun spending such as dining, holidays and travel. 30% will take a holiday, but a more limited one, 60% will reduce spending during their trips, while for 40% this spending cut will be more than 50%. The main reasons are either reduced disposable income due to revaluations, but mainly increased costs on tickets (50%) and accommodation (48%), increased fuel costs (37%) and increased catering costs (33%).