Iran war creates turbulence for Greek tourism outlook

EconomyFeatures Tags: Iran, Israel, Middle East, Tourism
Photo by MacroPolis
Photo by MacroPolis

The Iran war has introduced a level of volatility into the Greek tourism sector not seen since the pandemic in 2020. Four weeks into the conflict, the effects are already visible: jet fuel costs have doubled, pushing airfares higher, while the paralysis of Middle Eastern aviation hubs has severed vital connections to the East.

The primary transmission mechanism of the conflict into the Greek tourism sector is the aviation industry’s response to fuel volatility and airspace restrictions. Greek carriers have been forced to implement emergency measures to protect margins. Aegean...

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