At a time when geopolitical instability, shifting travel trends, and domestic challenges are reshaping the tourism landscape, Greek yachting is called upon to balance growth with adaptation. In this context, Ioannis Kourounis describes the current picture of the sector, emphasizing both its strengths and the unresolved issues that impact its competitiveness.

Overall, Greece continues to strengthen its position as a safe and attractive destination in the international market, even under the shadow of developments in the Middle East, which indirectly affect demand and operating costs. At the same time, the shift of customers toward last-minute bookings and their reluctance to plan ahead are creating new conditions for businesses in the sector. Within this environment, Greek yachting remains on a growth trajectory, but faces clear challenges—from a complex regulatory framework and infrastructure shortages to the new organized mooring model that is testing market dynamics.

Meanwhile, the Mediterranean Yacht Show is strengthening its role as a reference point for the industry, aiming to evolve into a platform for strategic dialogue on the future of maritime tourism in Greece.

Mr. Kourounis, how are developments in the Middle East affecting the maritime tourism sector in Greece?

Events in the Middle East affect yacht charters in Greece mainly indirectly, shaping an environment of increased uncertainty that impacts both demand and the operating costs of businesses in the sector.

In terms of costs, geopolitical tension leads to increases in fuel and energy prices overall, directly raising charter costs, vessel operating expenses, logistics, and ultimately the competitiveness of businesses. At the same time, there is a mild slowdown in demand and bookings, which is not alarming for now but is clearly noticeable. Clients appear more cautious and delay decision-making, resulting in more last-minute bookings and fewer early bookings, which are a critical factor for planning, especially for larger and luxury vessels.

Is there a possibility that bookings will decrease?

There may be a decline in bookings from markets directly or indirectly affected by the conflict region, such as Israel and the broader Middle East, which represent a significant portion of high-income clientele. Additionally, travelers using connecting flights through airports in the region are also affected, creating further obstacles to travel. In this context, American clients seem more sensitive to issues of safety and travel logistics compared to Europeans.

In this climate, does Greece remain a safe destination?

Greece continues to be considered a safe and attractive destination, which acts as an important counterbalancing factor and may attract demand from other markets avoiding high-risk areas. Overall, the impact of the crisis remains manageable for now, mainly limited to a slowdown in demand and an increase in costs. The evolution of the situation will be decisive: a prolonged crisis will intensify pressure on the sector, while a rapid de-escalation—within approximately three weeks—will limit the impact and allow a gradual recovery.

What is the current picture of the market and yacht bookings?

The Greek luxury yacht charter market in 2025 moved at satisfactory levels, marking a period of stabilization after the intense fluctuations of the post-pandemic period and previous years. Globally, demand has normalized and the market has found a new balance with more realistic growth rates. Within this environment, Greece maintained its position as one of the world’s top luxury maritime tourism destinations. The unique combination of natural beauty, island diversity, climate, and high-level services continues to be a strong competitive advantage. The Cyclades and the Ionian remain key pillars of activity, attracting a significant volume of charters.

Your outlook for 2026?

The year 2026 began with positive prospects and a modest upward trend compared to the previous year. The international market continues to evolve, with the entry of younger, high-net-worth clients, the growing importance of sustainability, and the demand for personalized experiences strengthening the sector’s momentum.

However, 2026 is not without challenges. Recent geopolitical developments and conflicts in the wider region have slowed the pace of bookings. According to tourism market estimates, some clients are adopting a wait-and-see approach, as uncertainty affects travel planning.

In summary, 2025 was a year of stabilization with a positive sign, while 2026 started dynamically but is unfolding with greater caution. Despite the challenges, the fundamental drivers of demand remain strong, allowing for cautious optimism for the year ahead.

What are the main issues currently concerning the sector?

Greek yachting, particularly the luxury segment, is on a growth path but faces long-standing and complex challenges that affect its competitiveness.

First, the regulatory, tax, and insurance framework remains complex and frequently changing. Bureaucracy and constant regulatory shifts create uncertainty and burden business operations, especially compared to competing destinations such as Croatia and Turkey, where the framework is more flexible.

Second, infrastructure is a critical issue. The lack of modern marinas and limited berthing capacity in popular destinations create pressure during peak season, while the need to upgrade services is urgent.

Third, the sector faces a shortage of skilled human resources. Attracting and training new professionals, as well as upgrading educational structures, is crucial for maintaining high service standards.

Finally, a current issue is the new framework for organized mooring, which requires professional recreational vessels to moor at permanent mooring systems in sea areas outside ports and marinas. This development has caused strong concern in the yachting market and raises fears that, in its current form, it may create more dysfunctions than it resolves.

Why does this issue concern the sector?

A central concern is the possibility of granting sea areas to private entities without a fully developed, clear, and transparent framework for zoning, evaluation, allocation, operation, and control. The absence of specific terms and competitive procedures raises fears of market distortions, unequal access to critical sea spaces, and even indirect privatization of natural bays.

At the same time, the extensive allocation of sea areas without a minimum quota of free zones could undermine the operating model of vessels and the leisure experience, limiting flexibility in movement management. Additionally, concentrating vessels in specific areas may create new forms of environmental pressure.

Significant questions also arise regarding the financial terms of concessions and the criteria for selecting concessionaires. Notably, there are no provisions for tenders, selection criteria, or evaluation processes, nor a clear control framework, so that potential investors can understand the operating conditions from the outset.

What is the Association’s position on this issue?

As an Association, we believe that these points must be taken into account through dialogue with stakeholders, in order to ensure the functionality of the new organized mooring model, with real environmental protection, without excluding sea areas or limiting the flexibility and quality of the experience offered.

Let’s move on to the Mediterranean Yacht Show. What did last year’s event signify for the sector?

In 2025, with the organization of the 10th Mediterranean Yacht Show, an important cycle was completed for the Greek Yachting Association. Since its founding in 2013, the Association’s main goal was to create and establish an international exhibition of luxury professional yachts.

Ten years later, the exhibition has succeeded in becoming the largest of its kind worldwide, effectively promoting Greek yachting in the international market and strengthening the country’s position on the global tourism map.

What should we expect from this year’s Mediterranean Yacht Show?

The Association’s new administration, with an emphasis on an outward-looking approach and cooperation with related sectors, aims to play a leading role in yachting developments by creating an advisory body that will contribute to shaping proposals for sustainable and human-centered growth.

The 11th Mediterranean Yacht Show (Nafplio, May 2–6, 2026) is already being prepared dynamically, with a record number of participants. This year’s event aims to substantially upgrade the participant experience and strengthen its institutional role through parallel actions of multiple objectives and high added-value initiatives, making it the annual meeting point for key players in the Greek and international yachting community and a hub for new ideas and trends shaping the sector’s evolution.

Among the new initiatives is the organization of a conference on May 2, 2026—the opening day of the exhibition—focusing on marine parks and anchoring control, under the auspices of the Ministries of Environment and Energy, Maritime Affairs and Insular Policy, and Tourism. Participants will include the Minister of Tourism Olga Kefalogianni, the Secretary General of the Ministry of Environment and Energy Petros Varelidis, the Secretary General of the Ministry of Maritime Affairs and Insular Policy Evangelos Kyriakopoulos, as well as key representatives of the market and institutional bodies.

This initiative highlights the sector’s intention to actively contribute to shaping policies for sustainable and balanced development.

Interview released in NewMoney