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Greece Among The Top 8 EU Destinations For Short-Term Rentals In Summer 2024

by THEFUTURE.TEAM

January 15, 2025

Greece has secured its spot as one of the eight most popular destinations for short-term rentals in the European Union, reflecting the increasing trend of platform-based tourism, according to Eurostat.

The country’s solid performance in the summer of 2024 aligns with a broader rise in short-term rental bookings across Europe. Eurostat’s latest data reveals an 18% year-on-year increase in bookings through platforms like Airbnb, Booking.com, and Expedia. Greece saw a 14.3% rise in overnight stays compared to 2023, contributing significantly to this growth.

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A Surge Across Europe

During the third quarter of 2024, short-term rental bookings across the EU reached 366.2 million overnight stays, with Greece accounting for 26.1 million of these, marking a 14.3% increase over the previous year.

The highest growth rates were seen in Malta (+40.9%), Germany (+26%), and Sweden (+24.6%). France, Spain, and Italy also experienced significant increases in bookings, with year-on-year growth rates of 23.8%, 20.2%, and 15.5%, respectively.

Strong Performance In The Summer Months

Across the EU, the third quarter of 2024 recorded robust growth in short-term rental bookings, with all three summer months showing impressive results:

July 2024: 135 million overnight stays, up 16.4% from the previous year.
August 2024: 152.2 million overnight stays, a 21.6% increase.
September 2024: 79 million overnight stays, rising 14% compared to 2023.

Malta led the EU in August with a 41.4% increase in overnight stays, followed by Germany (+32.7%) and France (+29.9%). Smaller increases were recorded in countries like Croatia (+9.7%), Bulgaria (+12.2%), and Slovenia (+13.6%).

In Greece, August saw a 16% rise in overnight stays, further cementing its status as a top summer destination in Europe.

Greece’s Continued Popularity In Short-Term Rentals

Greece’s growth in short-term rentals is part of a larger upward trend seen across the EU. The country is now firmly positioned as one of the eight most sought-after destinations for short-term rentals, joining:

France
Spain
Italy
Greece
Croatia
Germany
Portugal
Poland

The Rise Of Platform-Based Tourism

The Eurostat report underscores a broader trend of growing reliance on platform-based tourism, with all eight top destinations surpassing pre-pandemic levels. Greece’s inclusion among these countries highlights its enduring appeal to travellers seeking short-term rentals.

This sustained growth not only underscores Greece’s importance in the European tourism market but also reflects the country’s ability to adapt to evolving travel preferences.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.