Cyclades Rank First in Short-Term Car Rental Businesses, According to IOBE Study

The Cyclades rank first nationwide in short-term car rental businesses, accounting for 18.6% of the sector. The data comes from a study by the Foundation for Economic & Industrial Research (IOBE) based on figures from the Ministry of Tourism.

Crete follows in second place with 18.1%, and Attica is third with 17.6%. Nationwide, the car rental sector comprises approximately 2,400 businesses, 9,800 employees, and a total fleet of 280,000 vehicles, generating an estimated turnover of 1.7 billion euros in 2023.

Specifically for short-term rentals, the fleet stands at around 105,000 cars, with an average age of 3.1 years and turnover of 577 million euros. Regarding vehicle technology in short-term rentals, hybrids represent 14% of the fleet and fully electric vehicles just 2%, as the lack of charging infrastructure on islands remains a hurdle.