Tourism, real estate, and Greece's demographic challenge
As tourists flock to Greece, so is foreign money. This has ramifications for the real estate as well, as the spike in tourism is coinciding with a massive increase in Greek homes going to foreign buyers and a spike in property values. As a result, many young Greeks fear that homeownership may be out of reach at a time when Greece is also facing a long-term demographic challenge. Athens-based journalist John Psaropoulos joins Thanos Davelis to look at how Greece’s success story, tourism, could also be contributing to Greece’s demographic challenge.
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Show Notes
Greece’s big economic success over the last years has been tourism, and, as tourists flock to Greece, so is foreign money. This is also coinciding with an increase in Greek homes going to foreign buyers, and in homeowners choosing to put their homes and apartments on platforms like Airbnb. As a result, average Greek property prices and rent have shot up, and many young Greeks fear that homeownership may be out of reach at a time when Greece is also facing a long-term demographic challenge. John Psaropoulos, an independent journalist based in Greece and Al Jazeera's southeast Europe correspondent, joins Thanos Davelis to look at how Greece’s success story, tourism, could also be contributing to Greece’s demographic challenge.
Read John Psaropoulos’ latest article here: Tourism’s dark side: Are those who love Greece killing it?
You can read the articles we discuss on our podcast here:
Homes flooded as Storm Elias hits battered Volos in central Greece