Greece promised ferry freedom back in 2002, but the fantasy didn’t last long. The Competition Commission has caught two companies playing gatekeeper over 60% of the country’s mid- and long-distance ferry routes. Tourists and islanders? Stuck with whatever fares and timetables are handed down by the duopoly. If you’re trying to reach one of the less-famous islands, prepare to wait—and pay.
1,400% Price Surge and Still No Ferry for You
While ferry conglomerates toast to record profits and thin competition, Greece’s essential ferry routes (hello, national lifeline) saw state subsidies grow by 1,400% in just over two decades. Of course, this money is supposed to connect remote islands with the rest of the country. How much of it actually reaches passengers? Well, don’t hold your breath as you check your empty wallet.
The Wonders of Greek Bureaucracy: Regulation Gone Wild
The probe isn’t just about the obvious price-fixing. The entire ferry system is built on shaky rules and a port network that’s still stuck in the last century. Piraeus, the only real hub, serves as the middle of this creaking wheel, while old ports prove that “quaint” doesn’t mean “efficient.” Frequent rule changes keep the industry guessing, supervisors juggling, and passengers bewildered.
Where’s the Competition?
In theory, liberalization should bring choice, lower prices, and better service. The reality in Greece? Not so much. The industry’s open-door policy for new providers is little more than a rumor. The same old names keep sending out boats, setting fares, and splitting up routes to block any actual rivals—even as tourists fill the islands every summer.
The Government Tries to Look Busy
Faced with public frustration (and more tourists ready to revolt), officials rushed out rules this week stopping ferry operators from jacking up prices for the sunny season. Will it help? Hardly, if the industry’s structure stays the same. But it’s a start, or at least a press release.
Main Issues—Broken Down
- Oligopoly: Two companies hold most of the market.
- Ferry price-fixing keeps fares inflated.
- Smaller islands get cut off or see limited service.
- Subsidies replace real competition but burn taxpayer money.
- Passenger experience suffers thanks to clunky ports and unclear regulation.
- No new players enter the scene, and the public pays the price.
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