How are Bitcoin ATMs in Greece doing during a record tourist season?

Greece is globally recognized for its tourist attractions with idyllic beaches and a relaxed lifestyle. Before the outbreak of the global pandemic, the World Travel and Tourism Council said that tourism generated over a fifth of Greece’s total GDP.

This year, the country met a record number of travelers during the summer tourism season. In the month of August alone, the country received almost 1 million travel arrivals per week, according to Greek Tourism Minister Vassilis Kikilias.

A report by ForwardKeys on this year’s summer tourism revealed that of the top ten “sun and beach” destinations in Europe, Greece had six places. These included the island destinations of Mykonos, Thira (Santorini) and Heraklion (Crete), as well as Thessaloniki. Athens, the country’s capital, took third place for “urban” destinations in Europe.

In the 27 EU member states, Greece occupies the sixth place in terms of cryptocurrency ATMs, with 64 active for use. Over half of Greece’s crypto ATMs are split between Athens and Thessaloniki.

However, Bitcoin ATM operator BCash strategically placed some of its ATMs in the country’s trendy island destinations of Mykonos, Santorini and Crete. Cointelegraph spoke with the CEO and co-founder of BCash, Dimitrios Tsangalidis, about how crypto is affected by or even affects the tourist season in Greece.

Although Mykonos and Santorini are the most visited tourist destinations, mainland ATMs have the majority of traffic, according to Tsangalidis – especially central Athens, where the first ATM was installed, and Thessaloniki.

However, the co-founder noted that Crete, the country’s most populated island and a popular tourist destination, has a “very loyal cryptocurrency audience.”

“There is a strong crypto community in Heraklion, Crete [which is] the location of one of our ATMs.”

In Heraklion, the capital of Crete, local startup accelerator H2B Hub partnered with the Greek-speaking University of Nicosia to create and support a local blockchain community.

Both Athens and Thessaloniki have active, regular meetings for the crypto and blockchain community.

While tourism bolsters parts of the Greek economy, according to Tsangalidis, it doesn’t translate to the crypto scene. “Unfortunately, the absolute opposite happens,” says Tsangalidis.

“During the summer months and peak tourist seasons, demand drops. But we’re in the middle of the crypto winter that came earlier this year, so it’s really hard to say.”

Especially when it comes to normal traffic, the decline can also be equated with the local population going on holiday.

Related: Tourists flock to El Salvador despite Bitcoin bear market

In general, Greece needs more awareness of cryptocurrencies and their usefulness in everyday life, summarizes Tsangalidis.

“Influence on local tourism can only be noticeable if there is a general adoption of cryptocurrency in the community.”

He adds that there is currently little or no infrastructure or adoption from the level of Greek businesses and local authorities. “If our government will become crypto-friendly and if the green light will be given to businesses, adoption will follow.”

In May this year, the president of the Greek National Tourism Organization, Angela Gerekou, said that the country is currently investigating how blockchain technology can provide security and transparency in tourism.