Austrian interest in vacations in Greece has been waning for several years and may decline even more owing to the Greek financial crisis and civil disturbances. The media reported today (Fri) that the number of Austrians vacationing.

In Greece had declined from 670,000 in 2007 to 550,000 in 2009, owing in part to cheap, all-inclusive vacations on offer in countries like Turkey and Egypt.

Walter Krahl, the distribution manager for large Austrian tourism firm Verkehrsbüro, said today that bookings for Greek vacations had declined by seven to eight per cent since the beginning of the year.

Edward Gordon, the head of the umbrella association of travel bureaus in the Austrian Economy Chamber (WKO), said the situation in most of Greece outside of Athens was quiet. "Everything is the same as it has always been on the islands," he claimed. Josef Peterleithner from tourism firm TUI, however, said that bookings for Greek holidays with his firm had risen compared to last year despite negative media reports about developments in Greece.

Large travel concerns have lowered prices for Greek holidays by an average of five per cent, according to the media. Andreas Andreadis, the vice president of the Greek Tourism Association, said revenue would be down by nine per cent this year after having fallen by eight per cent last year.