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No cheap holidays on Mykonos

- by John Swift

No cheap holidays on Mykonos.

Holiday hotel owners may be slashing prices in a bid to fill empty beds this year but visitors to popular Greek holiday islands like Mykonos won't find many cheap Greek island holiday deals on offer. While hotel room prices across Greece are up just 15% on last year, for Mykonos holidays the average price of a double room is now €88 a night – a whopping 66% rise on last year's prices.

In Athens, the price for a double room has actually fallen by 2% to €110, and in the nearby port of Piraeus it is just €74 – a huge 20% fall on 21010 prices.

Room prices have been slashed as money-troubled Greeks have decided against taking holidays this year. The domestic holiday market has been cut by 40%, according to some experts.

The fall has been cushioned by a rise in overseas visitors, with the numbers of foreign tourists taking Greek island holidays up nearly 10% so far in 2011 – but there are still plenty of empty rooms in hotels on Greek islands that are traditionally favoured by Greek families.

On popular international holiday spots such as Mykonos, and where demand still outstrips supply, it's a very different story. On the holiday islands of Kos room prices are up 52% on last year at €88 a night and on the island of Rhodes you will pay 25% more than last year at €96 a night.

Overall, Greece does well compared to hotel prices in other rival Mediterranean countries. A double room in Ibiza, for example, is 104% higher than last year at €267, average Mallorca room prices are up 57% at €170 and a night in Antalya, Turkey, will cost an average €1 – up 25% on 2010.

Travel spending by Greek island holiday visitors has risen 5.6% compared with 2010 mainly as a result of the increase in VAT on food by 13% to 23% this year.