Airbnb: Reducing prices on Mykonos to attract tourists

Businessmen in Mykonos are changing their way due to reduced visitors to the island of the Winds. Increased prices in restaurants and Airbnb-style accommodation have caused a financial shock to tourists.

Little by little, Mykonos is losing the momentum it had gained in recent years as a tourist destination. The first numbers appear below expectations and show a significant decline both in terms of receipts and arrivals.

The traffic drops noticeably due to high prices but the prevailing tendency of tourists to look for so-called "value for money", i.e. places that are worth visiting but without having to empty your bank account.

Airbnbs

Mykonos, therefore, enters the "game" of sales next season, in an attempt to attract tourists by providing financial incentives in view of a very difficult tourist season.

Business circles of the island, speaking to OT, report that the "heavy wallets" have left Mykonos and... are traveling to Tinos, Syros, Serifos and Sifnos. Or they even prefer to experience the Greek summer in other popular Greek islands, such as Rhodes, Crete and Corfu.

The exorbitant prices on accommodation on the cosmopolitan island have led Airbnb owners to slash prices by 20%-30% due to an unprecedented drop in bookings in May and June. Prices in hotels and villas have been significantly reduced in order to attract tourists to visit the island again.

Last year, the pre-bookings for July and August for Airbnb-type villas were around 95%, while this year, in the same period, they are at 80%.