Should you be worried about your holiday to Greece?

Home country of the Olympic Games and famous for its Greek mythology, Brits make around 2 million visits every year to the Mediterranean islands. However with Greece’s economic turmoil there may be more than a few that will be worried about whether it will affect their summer holidays.

Will this ruin my holiday?
It shouldn’t really have much disruption to your holiday as reassured by The Embassy of Greece in London; ‘The tourists who are already here, and those who are planning to come, will not be affected in any way by the events and will continue to enjoy their holiday in Greece with absolutely no problem’. Many holidays will be paid for and most of the package holidays booked are all-inclusive.

Will I be able to use my credit cards?
Yes, your credit cards will still work in Greece but many places may be unwilling to accept it, reports say with some reducing their prices for cash payments. Take more than one form of payment and be aware that banking services could potentially be limited at short notice.

Can I withdraw cash from ATMs?
Many cash machines in Greece could be out of money and something to bear in mind is those with money stocked up in them may well have long queues. There are restrictions on the amount of money that can be withdrawn but this only applies to domestic account holders, not foreigners.

The Foreign and Commonwealth Office (FCO) have advised that you take extra cash, ‘Make sure you have enough Euros in cash to cover emergencies, unforeseen circumstances and any unexpected delays.’ Traders may not have much cash for change so carry small notes like €5s, €10s and €20s.

Should I get travel insurance?
As much as it’s probably not a good idea to be travelling without insurance, there are still a few that do risk it but in light of the situation you will not want to head to Greece without the proper cover. Travelsupermarket.com is suggesting people get travel insurance that covers travel disruption and delays. Whilst if you are yet to book opt for a package holiday that is backed by the Civil Aviation ATOL scheme, they offer protection and guaranteed travel home.

Does the financial crisis in Greece affect Cyprus?
No, Cyprus had a bail out in 2013 after its banking system collapsed. It also has its own financial system and the Greek side is not directly affected by decisions made by the Greek government. Although Greek banks in Cyprus may well be crippled by the same problems as those in Greece.

Will a holiday to Greece be cheaper?
If Greece exit the euro then holidays to Greece may be cheaper in the future but not likely this summer as businesses, especially those tourist facing, are likely to insist on being paid in euros.

We hope this has answered some of your burning questions about your holiday to Greece this summer.  As long as you take the right precautions in terms of payment methods and insurance the current situation in Greece shouldn’t stop you from having an amazing time sunning it up in the Mediterranean.

If you are planning to jet off for a summer holiday this year, be it Greece or anywhere else we’d love to hear from you! Fill out the quick two minute questionnaire and help us find out how the average Brit funds their trip abroad. We’ll reveal the results in the next newsletter!

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