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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.

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Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.