Holidaymakers are being urged to book their summer vacation plans in Greece immediately, as a “perfect storm” of geopolitical tension and rising operational costs threatens to send vacation prices soaring.
According to a recent report by The Sun, Greece and Spain have moved into the spotlight as the top “safe-haven” destinations, leading to a massive surge in demand that could soon outpace availability.
According to the UK Foreign, Commonwealth & Development Office (FCDO), the situation in Greece currently remains stable. “There are currently no FCDO travel warnings in place” for the country, according to the most recent travel advisory. This provides some relief for tourists heading to the mainland and islands, though officials continue to monitor the broader regional impact.
The impact of the energy crisis on airfares
The primary driver behind the projected price hikes is the sharp increase in jet fuel costs following recent escalations in the Middle East. Fuel typically accounts for approximately 25% of an airline’s operating expenses, making fare increases almost inevitable if regional tensions persist.
While major carriers like Ryanair, easyJet, British Airways, and Virgin Atlantic are currently protected by fuel hedging agreements, other international airlines—including Qantas and SAS—have already begun raising prices. Industry experts warn that as these hedging protections expire, the remaining “shielded” airlines will likely pass the increased costs onto consumers.
Greece as a “safe haven” destination
As the travel map shifts due to regional instability, Greece is emerging as a primary beneficiary of redirected tourism. Travelers are increasingly pivoting away from previously popular hubs:
Cyprus: Seeing a rise in cancellations following recent security concerns. The UK Foreign Office advised those traveling to Cyprus to follow instructions from local authorities. Specifically, “British nationals in the Sovereign Base Areas should follow instructions from the Sovereign Base Areas Administration.”
Dubai & Jordan: Effectively restricted for many travelers due to updated flight advisories.
Turkey & Egypt: Facing consumer hesitation despite resorts remaining largely unaffected.
Because Greece is perceived as a stable and secure alternative within the Mediterranean, the influx of redirected bookings is expected to create unprecedented pressure on both hotel capacity and flight availability.
Lock in prices today
To avoid the impending price hikes, travel experts recommend utilizing flexible booking schemes to “freeze” current rates. Several major operators are offering incentives to encourage early commitment:
Jet2: Offering low deposit schemes.
TUI: Promoting “zero deposit” packages on select holidays.
Loveholidays: Providing flexible payment options to help travelers secure their spots.
With oil prices fluctuating between $90 and $200 per barrel—levels not seen since the initial invasion of Ukraine—the window for “affordable” summer travel is closing rapidly. By booking now, travelers can secure their place in Greece before the combination of high demand and rising fuel surcharges pushes the cost of a summer getaway out of reach.
Related: UK Travel Advice: Greece Remains Clear While Cyprus Faces Restrictions