Greek sailing holiday - the financial risks

dylanwinter

dylanwinter

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www.keepturningleft.co.uk
just curious

how would you forumites feel about chartering a boat or coughing up for a flotilla holiday in Greece this summer

Dylan

PS - this is a purely academic enquiry as I shall be exploring the finges of the North Sea this summer
 
So how many Billions has the EU thrown at this basket case? And your wondering if people should be cautious with a couple of grand?:rolleyes:
 
Well we have. It's a uk based company, paid in pounds. And if it goes wrong, it's ATOL protected and we have our own insurance.

If it goes tits up when we are there, well... I'm sure we can barter with GBP for some food and find an anchorage to wait it out and learn to fish.

I'm not overly worried.
 
I suppose if things get really bad the Greeks might make you empty yer pockets at the airport.....
 
dylanwinter said:
just curious

how would you forumites feel about chartering a boat or coughing up for a flotilla holiday in Greece this summer

Dylan

PS - this is a purely academic enquiry as I shall be exploring the finges of the North Sea this summer
Click to expand...

Part of the reason I pulled out of the planned charter trip there in june with my sailing buddies!
C_W
 
I see three possible scenarios:

1 The bail-out works and everything burbles along like it's meant to.

2 The bail-out sort-of works but the euro takes a bashing. Result: cheaper charter holidays in Greece, Italy, France, Spain, etc.

3 The bail-out fails and Greece gets thrown out of the euro. The new-drachma ends up considerably devalued in comparison with the euro. Result: cheaper charter holidays in Greece.

But what do I know? If I could accurately forecast the movement of exchange rates, I'd be a lot wealthier now than I actually am.
 
dylanwinter said:
just curious

how would you forumites feel about chartering a boat or coughing up for a flotilla holiday in Greece this summer

Dylan

PS - this is a purely academic enquiry as I shall be exploring the finges of the North Sea this summer
Click to expand...

Donno, but I've still got 3 Ryde shower tokens and 8 Peter Pan Funfair tokens on the boat... ;->
 
Got two trips, Sept & October booked, one bareboat with Neilson, the other a delivery trip with Sailing Holidays so not worried as money protected. Might be more worried that flights actually take off & land where they're supposed to. However, more than ever the Greeks will need tourism to boost their economy, so hopefully they'll be pulling out all the stops to make things work. Mind you, it is Greece, so who knows????
 
We have a boat booked through Sailing Holidays in late July/ early Aug. The biggest concern at the minute is how hot will it be; however we will minimise the number of Euros we keep until then.
 
But British

Good question and one not only sailors will be asking.

In the past we have chartered through Pinnacle Yachts - British company, run by Brits and paid for in Sterling in UK.

If you use a credit card there's protection there too.

The chances are Greeks will be desperate for tourists to bring in cash...if we are to believe news reports then Greeks are being squeezed - so revenue most likely to come from foreign visitors. If the Greeks have any sense they'll make visiting Greece attractive - i.e. low prices - to encourage visitor numbers. (Will Greece and Spain enter into tourist wars?).

If Greece leaves the Euro zone (not impossible) then the new (devalued) Drachma will mean it's a financially attractive destination.

Whatever happens it looks OK - and besides it's a great cruising area.

Pass the Ouzo.
 
dylanwinter said:
how would you forumites feel about chartering a boat or coughing up for a flotilla holiday in Greece this summer
Click to expand...
No problem. The yacht isn't going to evaporate. Travel to or from it may suffer a hic-up. But tourism pays over 16% of the population, is 15% of GDP, and most of those are self employed. They'll move heaven and earth to keep things going, even if state employees (air traffic controllers) throw the odd spanner in the works.
 
The key point has been made that most companies are protected by ATOL. When you book the charter the money goes into an account and is only paid to the supplier/agency when the charter has been completed. So if the company goes under your money is safe, the irony is some large companies have recently gone under as they've had all their profits tied up in ATOL accounts!

The greatest problem with the financial situation in Greece is the dramatically rising costs of amenities and supplies. Last year I went to the same place in Greece in May and September, the cost of a meal had gone up from an average of £20 to £30 per person in just 4 months. Harbours are also under pressure to commence charging yachts to moor, which is fair enough but will dramatically add to the cost of the trip.

This could be a blip year as Yacht Breeze points out, there are already some amazing deals coming through for Greece. However if you're at all worried then head to Croatia, yacht charter prices for a 40 foot boat frequently fall bellow 1000 Euros and you can avoid paying mooring costs, I had a week in the Kornati Archipelago for £400 including flights, food and moorings (anchorages)

But don't loose faith in Greece, people might be scared off, but it just means it's going to be quieter!

alasdair
www.onestopsailing.com
 
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From Nautilus site

Is it safe to visit Greece this summer?


If you are wondering how the situation in Greece will affect your holiday plans, here's the expert view from Derek Moore, the Chairman of the Association of Independent Tour Operators (AITO).

Moore said yesterday, "AITO’s specialist holiday companies working with Greece know the situation very well indeed and they are unanimously reporting that there is no problem except in two very small, highly-contained areas - firstly, around Syntagma Square by the Greek Parliament in Athens and, secondly, in central Thessaloniki, Greece’s next largest city. This is nothing new - it’s exactly the same situation as the past three years."

"Tourism is one of the few industries in Greece with any potential for growth, and offers the Greeks their best chance of escaping the current financial turmoil. Greece is safe, open for business and looking forward to welcoming its overseas visitors with open arms this summer. Greece offers some of the Mediterranean’s finest beaches, cleanest seas and the unique hospitality of the Greek people
 
Talking to one of our clients in Athens just after all this kicked off and he said " We really have just one asset - the sunshine --maybe one day we will set up solar energy farms and sell that, but until then tourism remains our key industry, no one will want to meddle with that."
When I was out there at the end of this year the atmosphere in Athens and in Corfu could not have been more different. Outside of the big conurbations, Greece remains the same easy going place it has always been.
 
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