Latest news with #AntonisPagoni
Daily Record
11-06-2025
- Business
- Daily Record
Greece panic as tourists abandon one of its 'most popular' islands
For the first time since the Covid-19 pandemic, Santorini is experiencing a decline in tourists. For the first time since the Covid-19 pandemic, Santorini is witnessing a drop in tourists. Unlike previous years, visitors to one of Greece's most popular islands are not finding themselves amidst dense crowds, but instead Fira's main street is largely deserted. Earlier this year, earthquake activity on Santorini has put off many international visitors from choosing it as their holiday destination. While arrivals have been on the rise in recent weeks, the numbers are significantly lower than the peaks seen in past years. According to Yannis Paraschis, president of the Association of Greek Tourism Enterprises (SETE), "available airline seats are down 26% from the beginning of the year to date. But the indications we have in terms of supply of seats are down in the range of 7%-8% for the summer, so we expect a result with losses of 10%-15%". Antonis Pagoni, the president of the Santorini hoteliers, told Euronews he anticipates a continued decline in tourist traffic and warned that the effects will ripple through the entire Greek economy, reports the Express. "The president of SETE talked about airport arrivals," he added, "but I will unfortunately say that overall arrivals will be down about 20%-25%. Right now we are moving at -25% to -30%. It's a huge reduction in a destination like Santorini that attracts more than 3 million visitors. You know, it's 10% of Greek tourism. We are not sure if Greece can afford to lose that revenue." Currently, hotels are slashing room prices to entice last-minute holidaymakers. The global cost-of-living crisis is also leaving its mark on Santorini. This season, tourists are tightening their belts, resulting in fewer hotel reservations and a downturn for local enterprises dependent on tourism, as visitors cut back on expenditure for dining and keepsakes. Nonetheless, the allure of Santorini remains undiminished, with three cruise liners docking daily, each delivering thousands keen to discover the island's marvels. The impending cruise tax, set to be implemented from July, is not anticipated to deter this year's influx of cruise visitors. In the midst of these developments, Santorini's mayor, Nikos Zorzos, has underscored the urgency for a "saturation law" on the island, contending that there is no need for additional lodgings. "Santorini does not need any more beds. I say this with great certainty, with as much certainty as I know that my name is Nikos," he declared. He is advocating for governmental support to enhance public infrastructure, highlighting that Santorini has made substantial contributions to the national treasury without seeing proportional benefits in return. British tourists travelling to Greece this summer have been warned of the penalties for drug smuggling after the Foreign Office updated its travel guidance for the popular holiday hotspot. Greek travellers are being made aware of improved scanning technology which is now being used at several airports across the country ahead of the holiday season.
The Independent
11-06-2025
- The Independent
The iconic holiday spot losing tourists over earthquake fears
Santorini is expected to see fewer tourists this summer due to earthquake activity earlier in the year. Tourist traffic has declined following thousands of tremors in January and February, with airline seats down 26 per cent from the start of the year, according to the Association of Greek Tourism Enterprises (SETE). Yannis Paraschis of SETE said he anticipates overall losses of 10-15 per cent for the summer, marking the first drop in tourist numbers since the 2020 pandemic. Antonis Pagoni, president of Santorini hoteliers, reports overall arrivals have fallen by 20-30 per cent, a significant reduction for the popular destination. The UK Foreign Office said the earthquake activity in February had subsided but advised tourists to be aware of safety procedures.
The Independent
11-06-2025
- The Independent
Is earthquake activity deterring tourists from Santorini?
Santorini may welcome fewer tourists this summer after earthquake activity earlier in the year appears to have deterred visitors from booking holidays to the Greek hotspot. Tourist traffic has reportedly declined on the popular Cycladic island in the wake of thousands of tremors throughout January and February. In February, the whitewashed villages of Santorini were rattled by high seismic activity, and incessant tremors emptied towns of residents and tourists. A state of emergency was declared by Greek authorities for at least a month as the Greek prime minister urged residents to stay calm. Yannis Paraschis, president of the Association of Greek Tourism Enterprises (SETE) said that available airline seats are down 26 per cent from the beginning of the year, reported Euronews. Although numbers have improved in the build-up to peak summer travel, visitor footfall remains down on previous years. Mr Paraschis added: 'The indications we have in terms of supply of seats are down in the range of 7 to 8 per cent for the summer, so we expect a result with losses of 10 to 15 per cent.' It is the first year Santorini has reported a drop in tourist numbers since the pandemic in 2020. Santorini welcomed an estimated 3.4 million visitors in 2024. Antonis Pagoni, president of the Santorini hoteliers, told Euronews that overall arrivals on the island have fallen between 20 and 30 per cent. 'It's a huge reduction in a destination like Santorini that attracts more than 3 million visitors," said Mr Pagoni. 'You know, it's 10 per cent of Greek tourism. We are not sure if Greece can afford to lose that revenue." The UK Foreign Office (FCDO) advise tourists travelling to Greece: 'The area around the Cycladic islands of Santorini (Thira), Anafi, Ios and Amorgos, experienced increased earthquake activity in early 2025. This increase has since subsided and the tourist season is expected to continue as usual.' It warns holidaymakers to familiarise themselves with earthquake safety procedures and follow the advice from local authorities.
Yahoo
09-06-2025
- Yahoo
Tourist numbers on Santorini drop as earthquake fears keep visitors away
The main street without many people, alleys that are not crowded with visitors; these are uncommon sights during the summer months in Santorini's capital, Fira. For the first year since the COVID-19 pandemic, Santorini, one of the most popular Greek islands, is experiencing a decline in tourist traffic. Earthquake activity on the island earlier this year deterred many international visitors from choosing it for their summer holidays. In recent weeks, arrivals have been increasing, but the numbers are far short of the highs of previous years. "In Santorini, available airline seats are down 26% from the beginning of the year to date. But the indications we have in terms of supply of seats are down in the range of 7%-8% for the summer, so we expect a result with losses of 10%-15%," said president of the Association of Greek Tourism Enterprises (SETE), Yannis Paraschis. The president of the Santorini hoteliers, Antonis Pagoni, told Euronews he estimates a further fall in tourist traffic and warned that the effects will spread throughout the entire Greek economy. "The president of SETE talked about airport arrivals," he added, "but I will unfortunately say that overall arrivals will be down about 20%-25%. Right now we are moving at -25% to -30%. It's a huge reduction in a destination like Santorini that attracts more than 3 million visitors. You know, it's 10% of Greek tourism. We are not sure if Greece can afford to lose that revenue." The island's hoteliers are offering discounts on room rates to attract last-minute tourists. Almost every day three cruise ships stop in Santorini and thousands of visitors get off to admire the island's sights. The cruise tax, which will finally start to be collected from July, is not expected to affect this year's cruise ship arrivals. Related Santorini targeted by fake volcano eruption videos Black sands and famous sunsets: Top things to do as Santorini reopens after a month of earthquakes At the same time, the cost of living crisis affecting many parts of the world is also leaving its mark on Santorini. This year, visitors are more restrained in their spending and this can be seen not only in hotel bookings but also in the alleys of the Greek islands. According to shop owners, tourists this year are spending significantly less than in previous years, not only on dining but also on buying souvenirs.
Euronews
09-06-2025
- Business
- Euronews
Greek island of Santorini sees significant drop in number of tourists
The main street without many people, alleys that are not crowded with visitors; these are uncommon sights during the summer months in Santorini's capital, Fira. For the first year since the COVID-19 pandemic, Santorini, one of the most popular Greek islands, is experiencing a decline in tourist traffic. Earthquake activity on the island earlier this year deterred many international visitors from choosing it for their summer holidays. In recent weeks, arrivals have been increasing, but the numbers are far short of the highs of previous years. "In Santorini, available airline seats are down 26% from the beginning of the year to date. But the indications we have in terms of supply of seats are down in the range of 7%-8% for the summer, so we expect a result with losses of 10%-15%," said president of the Association of Greek Tourism Enterprises (SETE), Yannis Paraschis. The president of the Santorini hoteliers, Antonis Pagoni, told Euronews he estimates a further fall in tourist traffic and warned that the effects will spread throughout the entire Greek economy. "The president of SETE talked about airport arrivals," he added, "but I will unfortunately say that overall arrivals will be down about 20%-25%. Right now we are moving at -25% to -30%. It's a huge reduction in a destination like Santorini that attracts more than 3 million visitors. You know, it's 10% of Greek tourism. We are not sure if Greece can afford to lose that revenue." The island's hoteliers are offering discounts on room rates to attract last-minute tourists. Almost every day three cruise ships stop in Santorini and thousands of visitors get off to admire the island's sights. The cruise tax, which will finally start to be collected from July, is not expected to affect this year's cruise ship arrivals. At the same time, the cost of living crisis affecting many parts of the world is also leaving its mark on Santorini. This year, visitors are more restrained in their spending and this can be seen not only in hotel bookings but also in the alleys of the Greek islands. According to shop owners, tourists this year are spending significantly less than in previous years, not only on dining but also on buying souvenirs. Shares in chip designer Alphawave rose sharply on Monday after the British-Canadian firm agreed to be acquired by US rival Qualcomm for around $2.4bn (€2.1bn) in cash. As of around 9.45am London time, Alphawave's stock had risen around 23% in daily trading on the LSE. Qualcomm's offer values each share at 183p, a 96% premium on the closing price seen on 31 March, the final day before Qualcomm and Alphawave announced they were holding discussions. The $2.4bn valuation is still half of the total worth attributed to Alphawave when it launched an IPO in 2021. At its stock market debut, Alphawave shares were worth 410p each and the group was valued at £3.1bn (€2.7bn), although the firm has generally traded well below this level since its IPO. The deal is expected to close in the first three months of 2026, subject to shareholder and regulatory approval. Alphawave designs semiconductor technology for data centres and AI applications, thus providing Qualcomm with an opportunity to diversify away from smartphone components. 'Qualcomm's acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers,' said Tony Pialis, CEO of Alphawave Semi. 'By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities,' he added. Cristiano Amon, CEO of Qualcomm, commented on the deal: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.' Alphawave said its directors would unanimously advise shareholders to vote in favour of the takeover. For the deal to go ahead, it would require a green light from investors representing 75% of shares. The takeover raises concerns about the attractiveness of listing in the UK, particularly after other high-profile departures from the LSE. Food-delivery service Deliveroo and cybersecurity and AI firm Darktrace have both agreed to be acquired by US firms. The fintech Wise also announced last week that it would be moving its primary listing to the US.
