Greece is an ideal destination for backpackers and budget travelers, while Italy attracts luxury tourists. But which one is right for you?
Greece boasts an incredible coastline and hundreds of islands. It also provides adventure travel, national parks, as well as history and culture.
Which country is cheaper?
If you’re searching for the cheapest country to live in, there are plenty of choices. Bulgaria, Mexico and Vietnam are all excellent choices for those wanting to relocate abroad and enjoy a cost-effective lifestyle.
Comparing Greece and Italy, it’s evident that the Greek islands offer much lower costs of living. This applies to accommodation, transportation, and ferry tickets as well.
Italy has plenty to offer in terms of history and culture, too. There are numerous famous landmarks and historic sites, making it a great option for those who enjoy discovering different cultures.
Italy is renowned for its exquisite cuisines. It’s the ideal destination for families and couples who want to unwind while savoring delicious food and beverages.
Italy and Greece share a similar climate, with hot summers and mild winters. This makes both countries ideal vacation spots for families, couples, and solo travelers alike.
Restaurant Prices
Greece typically offers much cheaper dining than Italy, especially if you stay in hostels, guest houses or budget hotels.
When planning a vacation to Greece, the cost of food can vary depending on where you go and when you visit. To save money, try planning your trip during off-season months.
For instance, summer months tend to be the most costly for dining out; thus it’s wise to plan ahead for these times. Additionally, you’ll find plenty of budget-friendly places on both mainland and island destinations.
Greek cuisine is refreshingly straightforward, featuring fresh raw materials in most dishes. The menu selection is excellent and features classic dishes such as moussaka and pastitsio – pasta meals with meat and cheese.
Seafood is a beloved dish, though it can be pricey. Be aware that some tavernas charge more for frozen fish than it actually worth; so, before ordering, ask the restaurant staff for the weight and price of your order.
House prices
Italy is a popular option for those searching to buy a second home abroad. Prices there tend to be relatively low, making it an affordable alternative to more costly countries such as France or Spain.
Italy’s housing market is expected to expand slightly next year, although at a slower pace than 2022. This growth will be restrained by rising inflation, higher mortgage interest rates and the country’s shrinking economy.
Italy still provides many incentives to buy a home, such as tax breaks for ownership and mortgage relief. Furthermore, Italy boasts an unusually high proportion of owner-occupiers compared to other European nations.
However, ISTAT data reveals the Italian property market to be stagnating. Its average house price growth is negative, which goes against the European trend of house prices increasing on average by 4.3% annually.
Food prices
The good news is that food and drink prices in Greece tend to be very reasonable, particularly if you stick with local tavernas instead of fancy restaurants. A simple meal at a Greek tavern (including beer and small dish of meat or vegetables) will cost between 6-9 Euros; on the other hand, an elaborate meal including appetizers, main course and dessert could range anywhere from 20-25 EUR.
At a Greek restaurant, lunch usually costs 10-12 EUR per person and includes water and some bread. A salad featuring feta cheese, olive oil, cucumber, tomatoes and onions costs about 6 EUR while chicken or fish with vegetables costs around 10 EUR.
Wine in Greece is quite affordable, with most tavernas offering house wine by the carafe for around 8 EUR. On the other hand, if you’re after something more luxurious then you may need to splash out on cocktails and imported wine.
Transport prices
Italy boasts an excellent rail network that makes traveling between cities effortless. Unfortunately, trains can be slow and costly, so many travellers rely on busses or taxis instead for their transportation needs.
Greece also has a good rail network, although it’s not as extensive as Italy’s and can be more expensive. If you plan to visit multiple places during your vacation, train journeys could be cost-effective and usually run on schedule.
Ferries offer another means of travel between Italy and Greece, with ferries running daily between Brindisi to Patras and Venice to Corfu. Grimaldi Lines operates the 3 times weekly ferry from Brindisi to Patras with a duration of 16.5 hours; Anek Superfast and Ventouris Ferries run the same 3 times a week between Venice and Corfu.
Before booking tickets online for Greece and Italy, it’s wise to double-check all available routes as there may be hidden fees. You can do this by using Ferryhopper’s map and comparing different ferries available to find the cheapest ticket price.
Taxi prices
If you’re searching for a cheaper holiday, Greece is an excellent option. It boasts numerous world-renowned historical sights and attractions, national parks, as well as cuisine that embodies both history and tradition.
However, travel can be expensive. Knowing what prices to expect for your trip ahead is essential in planning an affordable itinerary.
When paying for your taxi ride in Greece, you have two options: use a credit or debit card or pay with cash. Most taxis in the country have POS machines that accept card payments but it’s best to have enough cash on hand just in case.
Another way to save on taxi fare is to negotiate. Ask your hotel or accommodation host for a standard fare before arriving in Greece so that you have an opportunity to haggle if a driver quotes an excessively high price.
You can download the taxi app BEAT, which only connects you with licensed yellow cabs. It also has a review system that allows you to rate and comment on your driver after every journey.
Petrol prices
When planning a trip to Europe, it’s beneficial to know how much petrol and diesel you’ll pay at the pump. Prices can vary greatly between countries and this chart provides an overview of how fuel costs have changed across Europe.
Greece ranks as the fourth-most expensive country in Europe for both petrol and diesel prices, but it’s not quite at the level of either the United States or Sweden.
Gas prices in Greece are higher than those found in Norway, the Netherlands and Denmark, but not quite at levels seen in Italy or France.
Fuel prices in Europe have gone up, but that hasn’t caused any shortages. Indeed, the oil agency in Paris reported no concerns with supply over the next two months.
One of the major factors determining petrol prices is how much tax is added on top. In seven EU member states, taxes make up at least 50% of what you pay at the pump.
The European Commission monitors oil price discrepancies and publishes them in the Weekly Oil Bulletin. Governments have also been cutting their fuel taxes to help motorists cope with rising expenses, but environmentalists have criticised these actions, alleging they are breaking promises to reduce fossil fuel subsidies and endangering climate change efforts.
Accomodation prices
If you’re on a budget, Greece is likely your best bet. This is because it has far fewer expensive hotels and resorts than Italy does.
Accommodation in Greece can be quite affordable, including guesthouses and Airbnbs. Prices tend to be lower on the islands than mainland Italy when it comes to renting a room.
Italy on the other hand offers an impressive selection of luxury resorts and hotels without breaking your budget. Enjoy a super luxurious holiday without breaking your budget!
Italy boasts some of the world’s most desirable resorts, and you can afford to splurge on a stay at some of them. Popular choices include Mandarin Oriental Lake Como and Castello di Vicarello in Tuscany.
Italy boasts some beautiful towns and cities to explore, such as Cinque Terre. Situated precariously on the water’s edge and surrounded by vineyards, these small villages make ideal romantic getaways or honeymoons; plus there are plenty of stunning places to stay in this region.
