Greek Tourism 2024: Record Performance at a Glance

Travel

The tourism figures for 2024, which is now the new reference year for the performance of Greek tourism, are recorded in the “Special Edition – REPORT 2024” of the INSETE Statistical Bulletin. This edition includes data on international arrivals, receipts, domestic tourism, accommodation, short-term rentals, employment, and hotel quality indicators.
According to the World Tourism Organization, international tourism in 2024 records an impressive recovery, reaching 99% of the pre-pandemic levels of 2019. Specifically, 1.4 billion tourists traveled in 2024, approximately 11% more than in 2023 and essentially the same as in 2019. At the same time, many regions worldwide exceeded pre-pandemic levels, with arrivals reaching 132% of 2019 levels in the Middle East, 107% in Africa, 106% in Greece, and 101% in Europe. However, the Americas and the Asia-Pacific region fall short of a full recovery in arrivals, recording 97% and 87% of 2019 levels, respectively.
Regarding tourism receipts in 2024 at a global level, initial estimates indicate that they will exceed pre-pandemic levels, keeping pace with the increase in arrivals and approaching or even exceeding 2019 levels.
In this context, Greek tourism had a comparatively particularly dynamic course with international tourist arrivals (excluding cruise passengers) in 2024 reaching 36 million, up by +9.8% compared to 2023 and +6% compared to 2019.
At the same time, travel receipts (excluding cruises) increased by +4.3% and amounted to €20.6 billion. Cruise revenues recorded a very large increase of +31.2% and amounted to €1.1 billion. Thus, total revenues, including those from cruises, increased by +5.4% and amounted to €21.7 billion.
The main points of the Statistical Bulletin are as follows:
International arrivals 2024

Air26.0 million international air arrivals were recorded, showing an increase of +2.0 million/+8.1% compared to 2023. A notable increase in arrivals was recorded at Athens Airport (+12.0%).
Road ArrivalsInternational road arrivals reached 11.9 million, compared to 10.4 million in 2023, showing an increase of 1.5 million/+14.4%.
Cruise & Coastal Traffic from the AdriaticIn 51 ports of the country, total passenger arrivals amounted to 7.9 million, showing an increase of +13% compared to 2023, while cruise ship arrivals reached 5,490, showing an increase of +5%.Passenger traffic from the Adriatic is estimated to have decreased by 5.8% in 2024 compared to 2023, while the estimated number of passengers is 1.3 million.
Revenues & Average Per Capita Expenditure (APE) 2024

Travel receipts (excluding cruises) increased by +4.3% to €20.6 billion.
Cruise revenues recorded a very large increase of +31.2% to €1.1 billion. Thus, total revenues, including cruise revenues, increased by +5.4% to €21.7 billion.
This development is due to the increase in receipts from residents of the EU-27 countries by +7.0% to €11,949 million. €, as well as receipts from residents of other countries by +0.8% to €8,641 million.
In particular, receipts from Germany increased by +3.5% to €3,696 million, while receipts from France decreased by 11.4% to €1,263 million. Receipts from Italy increased by +13.6%, reaching €1,225 million.
Among other countries, receipts from the United Kingdom decreased by 3.7%, reaching €3,173 million, while receipts from the USA increased by +15.1% to €1,581 million.
Average Spending Per Capita (excluding cruises) reached €573, down €30 / -5.1% in 2024 from €603 in 2023.

Domestic Tourism 2024

9.7 million domestic air arrivals were recorded compared to 9.0 million in 2023, up +7.1%.
Regarding coastal shipping, the estimated number of passengers is 19.4 million compared to 18.7 million in 2023, up +3.5%.

Hotel Performance 2024

Hotel turnover amounted to €11.4 billion in 2024, up +9% compared to 2023, where total turnover was €10.6 billion. €
The increase was greater in the 4* and 5* categories (+10%) and less in the 1*-3* categories (+5%).
Hotels invested 9% of their turnover, i.e., €1 billion, compared to €761 million in 2023 (7% of turnover).
The quality assessment of hotels in 2024 remained high (GRI hotel satisfaction index 86.9% / Net Promoter Score 51).

Short-Term Rental 2024

According to Lighthouse data, the maximum number of accommodations offered was 233 thousand with 1 million beds in August, and the smallest was 190 thousand accommodations with 846 thousand beds in January. The corresponding figures in 2023 were 212 thousand accommodations and 939 thousand beds in July and 172 thousand accommodations and 780 thousand beds in January.

Employment 2024

At the peak of the tourist season (Q3) in 2024, employment in accommodation and catering amounted to 451 thousand, an increase of +2% from 441 thousand in 2023.
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Posidonia Sea Tourism Forum 2025 | Eastern Med is the focus of interest for cruise tourism

Travel

As the 8th Posidonia Sea Tourism Forum (PSTF) prepares to welcome the global cruise community to Heraklion, Crete, in May, attention turns to the Eastern Mediterranean – a region that is facing serious challenges for the further development of the sector. Among the most critical issues are overtourism and the pressure on the environment and infrastructure of destinations, shortages in port facilities, as well as geopolitical uncertainties that intensify risk and uncertainty for the future.
Under the theme “Mediterranean: The Urgent Need for New Popular Ports and Destinations”, this year’s Forum will bring together key stakeholders, executives, industry leaders, and policymakers to seek solutions to these pressing issues. Discussions will focus on solutions and strategies to overcome these challenges and unlock new opportunities for sustainable and resilient growth.
“The wider Eastern Mediterranean is facing complex dynamics,” said George Koumbenas, President of the Cruise Ship Owners & Shipping Association, adding: “The ongoing conflict in Gaza and the escalating security risks in the Red Sea have significantly reduced the cruise industry’s footprint across the region, reminiscent of conditions last seen after the Arab Spring. Key markets, such as Israel, Egypt, Cyprus and parts of Southern Turkey, are experiencing a notable downturn.”
Despite these pressures, Greece has shown resilience, with strong evidence of recovery after the pandemic and promising forecasts.
According to data from the Hellenic Ports Association (ELIM), Greece recorded 5,490 cruise ship visits in 2024, representing a total of 7,927,709 passenger visits – an increase of 260 cruise ship visits and 924,559 passenger visits, respectively, compared to the previous year. Homeporting activity continues to grow, with Piraeus serving as the departure point for 635 cruises with 1.1 million passengers, followed by Corfu, Heraklion, Lavrio, and Thessaloniki.
However, challenges to further growth remain. Although the region has recovered quickly after the pandemic, Turkey has not returned to its pre-COVID levels as a popular cruise destination. The unexpected, for now, resumption of Black Sea routes, combined with Turkey’s slower recovery, have also significantly reduced routes to Greek ports in the North and East Aegean.
The rapidly changing dynamics and different growth rates between destinations in the same region make itineraries planning increasingly complex. One of the central themes of the PSTF will be the trend of cruise lines launching larger ships in the Eastern Mediterranean in order to meet growing demand. While these ships offer economies of scale and greater capacity, they also put significant pressure on ports and tourism infrastructure — especially when many ships call at the same time. Many popular destinations, such as Santorini, already apply daily passenger limits or levy special fees, while several other ports are considering similar measures.
Without coordinated action, the existing infrastructure constraints could hinder further growth of the industry. “A comprehensive growth strategy is now essential,” said Athanasios Liagos, President of E.L.I.M.E. “Investments should be directed both at the expansion and modernization of Greek ports, as well as at smaller emerging destinations, but also at the preservation of the cultural and environmental heritage that primarily makes these destinations attractive.”
At the Forum, the industry will call for enhanced cooperation between governments and the industry to identify specific destinations for sustainable expansion. Larger ships are expected to continue to dominate the industry, making it vital to identify ports with the capacity – but also the means and ambition – to upgrade their facilities without compromising their authenticity.
“As a company, we see huge potential in the Eastern Mediterranean, beyond the traditional popular destinations,” commented Manolis Alevropoulos, Vice President of Marine Operations, Celebrity Cruises – Royal Caribbean Group. “With the right infrastructure and destination management, many ports that are currently underutilized could emerge as iconic destinations, offering huge added value for both travelers and local economies.”
It is a fact that across the region there are several destinations, both mainland and island, with significant potential to upgrade their infrastructure to support larger ships and offer great travel experiences, which however remain dormant and untapped. Any future growth strategy should take into account the prospects of these destinations.
PSTF 2025 is supported by the Heraklion Port Authority as Diamond Sponsor, the Region of Crete and the Cultural Resources Management and Development Organization (ODAP) as Gold Sponsors, the Hellenic Tourism Organization (EOT) and the Piraeus Port Authority as Silver Sponsors, Celestyal and Kyvernitis Travel Group as Bronze Sponsors, the Thessaloniki Port Authority and Minoan Lines as Sponsors and Heraklion International Airport and Creta Interclinic as Supporters. The official airline is SKY express. The Forum is organized under the auspices of the Ministry of Shipping & Insular Policy, the Ministry of Tourism and the Municipality of Heraklion and is supported by the Hellenic Chamber of Shipping, the Cruise Lines International Association (CLIA), the Mediterranean Cruise Ports Association (MedCruise), the Cruise Ship Owners & Shipping Operators Association and the Panhellenic Association of Ship Suppliers and Exporters.
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Wine Tourism | Main tourist accommodations within wineries and national thematic DMO

Travel

The importance of wine tourism as a key pillar of the development of Greek tourism was underlined by the Minister of Tourism, Olga Kefalogianni, during the meeting of the Wine Tourism Council. The meeting was attended by the Secretary General of Tourism Policy and Development, Vasia Koutsoukou, the Vice President of the Greek National Tourism Organization, Konstantinos Zikos, the Deputy Governor of Attica, Christina Kefalogianni, and the President of the Wine Tourism Council, Mary Triantaphyllopoulou.
Ms. Kefalogianni praised the role of the Wine Tourism Council, characterizing it as a decisive tool for the promotion and strengthening of wine tourism in Greece. At the same time, she referred to the international recognition of Greek wine, highlighting its contribution to strengthening the sustainability, resilience and competitiveness of the Greek tourism product.
“Winemaking in Greece is not only a centuries-old tradition but also a dynamic sector of our economy,” the Minister stated characteristically, adding that “wine tourism combines primary production, cultural heritage, hospitality and gastronomy, offering visitors an authentic experience.”
New initiatives for the development of wine tourism
Ms. Kefalogianni placed particular emphasis on initiatives for the institutional strengthening of wine tourism, highlighting, among other things:

The possibility of operating main tourist accommodations within wineries.
The Visitable Winery Label.
The financing of programs to strengthen agritourism and gastronomy through the Recovery and Resilience Fund.In this context, a market study for gastronomic tourism and agritourism was recently completed, recording products, services and wine tourism businesses throughout Greece.

At the same time, the creation of a thematic national Destination Management Organization (DMO) is being promoted, which will connect producers and tourism businesses, shaping a coherent development strategy.
Digital promotion platform
Another important initiative is the creation of a special digital platform, which will contribute to the promotion of the country’s gastronomic and agritourism resources.

The course of Greek tourism
Referring to the overall performance of Greek tourism, the Minister highlighted the new records in arrivals and revenues last year, while also noting that the Ministry’s strategy focuses on the sustainable and resilient development of the sector.
“We continue to implement our strategy for a tourism that creates value for the entire country and supports local development,” noted Ms. Kefalogianni, concluding:
“Greek wine is a significant competitive advantage, which we can and must further exploit. With cooperation, coordination and the appropriate tools, Greece can become a leading global wine tourism destination.”
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Important events under the auspices of the Greek National Tourism Organization

Travel

Important events with innovative features, taking place in the coming weeks in Piraeus, Athens, Pieria and Kastoria, have been placed under its auspices by the Greek National Tourism Organization.
These are the 36th Athens Fashion Week, the 21st Athens Digital Arts Festival, the action “Blossoming Cherries of Pieria” and the 50th Kastoria International Fur Fair, which significantly strengthen the country’s position as a destination for special forms of tourism (city break, cultural, agrotourism, MICE tourism), attract visitors with special interests and contribute to the extension of the tourist season.
• The 36th Athens Fashion Week (36th Athens Fashion Week – AFW) starts today, April 2, at the PPA’s Stone Warehouse, in the neighboring city of Piraeus. AFW is held every spring and autumn, constituting the longest-running institutionalized Greek fashion event, aiming to promote and showcase Greek designers, connect them with the global fashion scene, and promote sustainable fashion.
The event brings together top Greek designers, new talents and selected domestic and international fashion brands, while also bringing together invited journalists and buyers from abroad, which ensures the opportunity for participating designers & brands to be showcased in international markets and to conclude important commercial agreements. The event will conclude on April 7.
• The 21st Athens Digital Arts Festival (ADAF) is organized from April 3 to 7 at the Technopolis of the Municipality of Athens with the theme “Simulacra”. ADAF is the annual festival showcasing the most modern digital art forms by artists and scientists from around the world. With a main focus on connecting art with technology and science, ADAF dynamically represents Greece on the international digital art scene, bringing to the fore the latest global innovations.
This year’s event will feature 3,000 artistic proposals from 102 countries, including impressive video art, animation, installations, A/V performances, music, AR/VR/XR, workshops, talks, web art, digital images, game,s and an exciting program for children, creating a multidimensional experience around digital culture.
• The agrotourism event “Blooming Cherries of Pieria” will take place next weekend, April 5 and 6, in the two cherry-growing areas of Pieria, Kolindros, and Rachi. This is an institution that was launched last year by the Pierian Development and Promotion Organization (POTAP), meeting with great acceptance and success within the framework of the agrotourism program “Blooming Routes – Lefkadios Hearn” implemented by the Greek National Tourism Organization.
The event includes on-site visits and eco-tours, acquaintance with local traditions and gastronomy, sports and art activities, a hot air balloon ride, creative proposals for children and adults, and educational workshops focusing on the beautiful cherry tree. The events will also be attended by the President of the Greek National Tourist Organization, Angela Gerekou, who took the initiative for the creation of the “Blooming Routes” umbrella program.
• Finally, the 50th anniversary Kastoria International Fur Fair will be held from April 9 to 11 at the specially designed Creative Hub space at the Kastoria International Exhibition Center. The fair is the meeting point every year for exhibitors, opinion leaders and trade visitors to the industry from dozens of countries in Europe, Asia, the USA, Canada, etc. in sectors such as ready-to-wear fur garments, fur skins, raw materials, dressing & dying companies, auction houses, accessories, machinery services, trade press. At the same time, it offers the opportunity to leading and emerging creators to present innovative creations with fur and to meet with the international industry.
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Russian tourists’ interest in Greece increases in 2025

Travel

With the summer season approaching, the demand for Schengen visas from Russian tourists has skyrocketed, recording a 50% increase compared to spring 2024. Tour operators confirm that Greece is among the top choices of Russian visitors, along with Italy, France and Spain.

According to reports from major tourism organizations, Greece’s beach resorts remain particularly attractive. Tourists choose our country not only for its natural beauty and climate but also because of the relatively more affordable visa procedure compared to other EU countries.
Why is the demand for travel to Greece increasing? The increased demand is attributed to several factors:

Postponement of travel: Many Russians who postponed their trips due to restrictions in previous years are now planning to visit Europe.
Strengthening of the ruble: The stronger ruble makes travel to the E.U. more affordable.
New air routes: Although flights from Russia to Europe are made via third countries, the increase in available routes with competitive prices is boosting demand.
Visa availability: Although the visa process remains demanding, travel agents report that Greece has a higher availability of appointments for submitting documents compared to France, Italy, and Spain. According to Russian Express, the document review for a Greek visa takes an average of 2 weeks.

Challenges and advice for travelers
The increased demand for Schengen visas has led to significant delays in processing applications, especially in Italy, where processing times have doubled. Tour operators advise travelers to submit their applications as early as possible and to avoid non-refundable reservations on flights and hotels until they have secured their visas.
Based on the current situation, Greece is a destination that remains accessible to Russian tourists, boosting the prospects of the Greek tourism industry for 2025.
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Western Phthiotis: Local development through cultural tourism

Travel

The Region of Central Greece has decided to participate in the Research Program “Popular Culture as a Development Lever for the Local Economy and Cultural Tourism in the Region of Western Phthiotis”.
To this end, the Region collaborates with the National and Kapodistrian University of Athens (NKUA).
The purpose of the program is local development through cultural tourism. Internationally, for local communities, cultural tourism is the center of development policy.
Specifically, this study moves along two axes. The first axis focuses on certain basic aspects of folk culture that will basically be directly exploitable with on-site research in the region, such as for example the social and cultural approach to the environment, the exploitation of natural cultural resources such as forests, mountains, waters, flora, fauna, pre-industrial technology and modernization, the forms of use of soft forms of energy such as watermills, gunpowder mills and other traditional installations, local food traditions and oral culture, fairy tales, legends, songs and testimonies about historical events of the modern period.
The second axis focuses on the creation of a website for the aspects of folk culture in the region of Western Phthiotis. This website will be used for reasons of promoting tourism through the promotion of the cultural heritage of the region. The website will constantly highlight aspects of the everyday folk culture of the Fthiotida region, which will be a point of attraction for the future visitor.
It is noted that the study will enable the creative use of elements of folk culture in the field of tourism development of the region, but also in supporting the operation of the folklore museum of Dikastro as well as other smaller folklore museums.
Finally, the study is based on research in the ethnographic field as well as on existing folklore-ethnographic archives that have relevant collections.
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Asian markets plunge as world reels from Trump tariff announcement – business live

Business News

Tokyo’s Nikkei index has opened 3.4% down after the Trump tariffs, while Australian shares are down 2%.The benchmark Nikkei 225 index was down 3.42%, or 1,222.77 points, at 34,503.10 in early trade, while the broader Topix index was down 3.32%, or 87.93 points, at 2,562.36.Nikkei average futures were also down 6% in the minutes before opening, Reuters reported.In Australia S&P/ASX 200 index fell as much as 2.1% to 7,768 points by 0002 GMT. The benchmark recorded its biggest intraday loss since December 19, 2024.“Stocks are diving following Trump unveiling tariffs that will hurt most global companies, Australian farmers, and investors alike”, said Jessica Amir, a market analyst at trading platform Moomoo.Donald Trump is finally making good on his campaign promises to “build that wall” – but instead of steel fencing along the Mexican border, it will be constructed from tariffs, and will enclose the entire United States.In his pugnacious and typically rambling speech on the White House lawn on Wednesday, Trump set out plans for across-the-board import taxes, ranging from 10% to more than 40%.The president promised “liberation”, yet the immediate impact is more likely to be rising prices for US shoppers and corrosive uncertainty for firms, exacerbating an economic slowdown that may already be under way.Outside the wall, countries will be affected according to how dependent their economies are on exports to the US – and how exposed they are to the global trading system. For some, it is likely to be devastating.The precise effects of sweeping tariffs on this historic scale are hard to predict. One factor is how rival economies will respond: retaliatory tariffs tend to make a bad situation worse, though they may make short-term political sense (see Mark Carney’s poll ratings in Canada).Another question is whether the dollar may appreciate, somewhat softening the blow for US importers. That may limit the effect on prices, which would otherwise be expected to rise as the cost of importing products and materials increases.The main challenge in assessing the exact impact of the plans, though, is that Trump’s statement did not mark the end of the period of profound economic uncertainty that began when he arrived in the White House – quite the opposite.Australian prime minister Anthony Albanese has voiced confusion about the tariffs levied on Norfolk Island, which is an Australian territory.“I think Norfolk Island somehow has been hit with 29% tariff rather than 10%. Last time I looked, Norfolk Island was a part of Australia,” he told ABC Radio Melbourne.Later at a press conference, he added:
I’m not quite sure that Norfolk Island, with respect to it, is a trade competitor with the giant economy of the United States but that just shows and exemplifies the fact that nowhere on earth is exempt from this.
The tariffs raised on Australia are 10%; those levied on Christmas Island (an external territory of the country) are also 10%. While those aimed at Norfolk Island (another external territory) stand at 29%.South Korea’s acting President Han Duck-soo has ordered emergency support measures for businesses that will be affected by the imposition of US tariffs of 25%, including automobiles, the industry ministry has said.Han asked the industry minister to analyse the content of the tariffs and actively negotiate with Washington to minimise the impact of US reciprocal tariffs, the ministry said. Han said:
As the global trade war has become a reality, the government must pour all its capabilities to overcome the trade crisis.
Trump in his speech singled out Washington’s Asian security allies South Korea and Japan, accusing them of being among the worst offenders for conducting unfair trade practices against the United States.Finance minister Choi Sang-mok and industry minister Ahn Duk-geun are to hold further meetings later on Thursday to discuss the tariffs’ impact on financial and foreign exchange markets, strategies for outreach to the US and the response of government and business, the news agency Yonhap reported.Analysts in Seoul said Trump’s extensive rollout of tariffs was harsher than expected, casting a cloud over the export-reliant economy.“For the domestic economy, a significant blow will be inevitable,” said Park Sang-hyun, an economist at iM Securities.“It is clear that major export products such as automobiles will be hit hard, and exports to the US through production bases in Vietnam will also be hit hard,” Park said in a note.The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”The body, which represents the powerful German auto industry, said the tariffs marked
the United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.
This is not America first; this is America alone.
The VDA also urged the EU to speed up free trade deal negotiations with other countries, arguing that the bloc must be an “advocate for free and fair global trade” and called on the incoming German government to take a leading role in such talks.It was Jeopardy!, or The Price is Right, come to Washington.On an unseasonably chilly day in the White House Rose Garden, Donald Trump stood with a giant chart listing what reciprocal tariffs he would impose on China, the European Union, the United Kingdom and other hapless contestants.The winner?Trump, of course, the maestro of fake populism, watched by a crowd that included men in hard hats and fluorescent construction worker vests.The losers?Everybody else.Sensing a bad headline, Trump hadn’t wanted his “liberation day” to coincide with April Fools’ Day, so he waited until 2 April to enter his fool’s paradise. It turned out to be liberation for his decades-old grievances about America getting ripped off as Trump stuck two fingers up at the world.US futures have fallen sharply, with the Dow Jones dropping 2.4% at around 2345 GMT, the Nasdaq index plunging 4.2%, and the broader futures index for the S&P 500 falling 3.5%. AFP reports:
Wall Street has largely suffered from Trump’s various trade announcements in recent weeks.
“The silver lining for investors could be that this is only a starting point for negotiations with other countries and ultimately tariff rates will come down across the board,” Northlight Asset Management’s Chris Zaccarelli wrote in a note to clients.
“But for now traders are shooting first and asking questions later,” he added.
The share price of technology companies whose components are produced abroad also fell sharply, with Apple losing 7.4% after-hours, Nvidia falling 5.2% and TSMC declining 5.9%.
Futures markets are typically much more volatile than the regular indices.
The clothing sector was also hit especially hard, with a particularly heavy bill for China, where products will be hit by an additional duty of 34% from April 9, and Vietnam, where the new “reciprocal” rate will be 46%.
Brands whose clothes are partly made in China or Vietnam were sharply lower, with Gap down 8.5% after hours, Ralph Lauren falling 7.3%, and Nike losing 7.1%.
Tokyo’s Nikkei index has opened 3.4% down after the Trump tariffs, while Australian shares are down 2%.The benchmark Nikkei 225 index was down 3.42%, or 1,222.77 points, at 34,503.10 in early trade, while the broader Topix index was down 3.32%, or 87.93 points, at 2,562.36.Nikkei average futures were also down 6% in the minutes before opening, Reuters reported.In Australia S&P/ASX 200 index fell as much as 2.1% to 7,768 points by 0002 GMT. The benchmark recorded its biggest intraday loss since December 19, 2024.“Stocks are diving following Trump unveiling tariffs that will hurt most global companies, Australian farmers, and investors alike”, said Jessica Amir, a market analyst at trading platform Moomoo.New Zealand will face a 10% baseline tariff on all imported goods into the US, as part of Donald Trump’s sweeping worldwide tariffs announcement.The announcement has puzzled New Zealand, which says the US administration’s claim that New Zealand imposes a 20% tariff rate on US goods does not add up.Roughly 75% of goods from the US into New Zealand have low or no tariffs imposed, while tariffs levied on US imports is about 1.9% on average. New Zealand’s trade minister Todd McClay told media on Thursday:
New Zealand applies a much lower tariff rate for US exports into New Zealand – I’ve asked officials to clarify, but we don’t have a 20% tariff.
The US is New Zealand’s fastest growing export market, becoming its second largest in 2024, ahead of Australia and after China. New Zealand exports to the US surpassed NZD $9b in 2024, driven by meat, dairy and wine. The new tariff could mean a NZD $900m bill for New Zealand exporters.McClay said the imposition of tariffs was not unexpected but it would have an impact on New Zealand exporters, some of which may look to other markets. McClay said:
Tariff rates anywhere upon New Zealand exporters is not a good thing … but New Zealand exporters are very nimble, and they are very able and very competitive.
New Zealand would not be looking to retaliate with tariffs on the US, McClay said.
That would put up prices on New Zealand consumers, and it would be inflationary.
The price of gold hit a new record after the tariff announcements.Gold crossed the previous record of $3,149.14 an ounce at around 2300 GMT on Wednesday and then continued to climb above $1,350 an ounce, as traders piled into the safe haven asset amid a steep decline in stock market futures.The Japanese yen has strengthened 1% against the US dollar on Thursday, AFP reports.In morning trade in Tokyo, one dollar bought 147.69 yen, with the Japanese currency – traditionally viewed as a safe-haven – up 1% compared to late Wednesday.Strongly. The EU has already announced a string of tariffs it plans to introduce on US imports targeting steel and aluminium in kind, as well as textiles, leather goods, home appliances, house tools, plastics and wood.Sources say it is also considering nuclear options, including tariffs on revenues generated in the EU by big tech firms and social media.This could be seen as highly provocative and would put Trump’s allies, such as Elon Musk and Jeff Bezos, in the crosshairs. It would also test the unity of the EU, with Ireland expected to argue against more punitive measures because of the dominance of the US tech sector in Dublin.Any action by the EU – which is targeted with a 20-percent tariff rate – “should be proportionate, aimed at defending the interests of our businesses, workers and citizens,” said Irish prime minister Micheál Martin.Italian prime minister Giorgia Meloni on Wednesday called the new US tariffs on the EU “wrong”.The EU’s preference is to negotiate so it has decided to delay countermeasures to open a space for talks. Maroš Šefčovič, the European commissioner for trade and economic security, has already met the US commerce secretary, Howard Lutnick, and, although Šefčovič reportedly came home last week “empty handed”, he is operating the Brexit playbook, hoping to build a personal relationship that will provide credit in the bank when they get down to talks.EU chief Ursula von der Leyen is expected to give a reaction on behalf of the European Commission – which handles trade issues for all 27 countries in the European Union – at around 0300 GMT on Thursday – that’s in three hours – during a visit she is making to Uzbekistan.The US tariff rate on all imports has rocketed to 22% from just 2.5% in 2024 under the new global levies imposed by President Donald Trump, Fitch Ratings’ U.S. economic research chief said on Wednesday. Reuters reports:
“That rate was last seen around 1910,” Olu Sonola, Fitch’s head of US economic research, said in a statement after Trump’s announcement for a global baseline import tax of 10%, but much higher rates for many trading partners.
“This is a game changer, not only for the US economy but for the global economy,” Sonola said. “Many countries will likely end up in a recession. You can throw most forecasts out the door, if this tariff rate stays on for an extended period of time.”
Hello and welcome to our live coverage of reaction to the latest Trump tariffs, which were more aggressive than expected against major US trading partners and which sent shockwaves through global markets.“This is the worst-case scenario that the market was expecting and that’s enough to potentially send the US into a recession,” said Jay Hatfield, CEO at Infrastructure Capital Advisors.Speaking in the White House Rose Garden against a backdrop of US flags on what he called “Liberation Day”, Trump slapped sweeping 10% tariffs on imports from around the world.He also unveiled particularly stinging tariffs of 34% on China, 20% on the European Union and 24% on Japan, saying they were “nations that treat us badly.”He also hit some of the world’s poorest countries and those struggling with wars and natural disasters: Myanmar, which is embroiled in civil war and which was struck last week by a devastating earthquake, was hit with tariffs of 44% while Sri Lanka was hit with rates of 44%, Bangladesh a rate of 37%, Cambodia 49% and Syria 41%.“For decades, our country has been looted, pillaged, raped and plundered by nations near and far, both friend and foe alike,” Trump said.Wall Street was closed when Trump made his announcement but the S&P index was down 1.5% in after-hours trading. The dollar fell 1% against the euro as he was speaking, but then recovered.US stock futures fell on the announcement, with S&P 500 E-minis down 3.5%, while the euro was down 0.3%. Markets in Asia are beginning to open now. We’ll bring you all the latest developments as they happen.In the meantime, here’s what you need to know:

The 10% universal tariff will go into effect on 5 April while the reciprocal tariffs will begin on 9 April.

Special exceptions were made for Canada and Mexico, though the countries were previously targets of proposed broad tariffs. The White House said that goods covered by an existing trade deal with Canada and Mexico will continue to see no tariffs.

Trump said the US would charge half of the fees he feels trading partners unfairly impose on the US because the US people are “very kind”.

Trump zeroed in on the industry-specific tariffs countries have placed on American exports. In his speech, Trump criticized policies like the EU’s ban on imported chicken, Canadian tariffs on dairy and Japan’s levies on rice.

The new tariffs come on top of a lineup of levies that Trump has already implemented: an additional 20% tariff on all Chinese imports and a 25% tariff on all steel and aluminum imports. There is also a 10% tariff on energy imports from Canada.

Sweeping auto tariffs of 25% that Trump announced last week are also due to take effect at 12:01 am (0401 GMT) on Thursday.

US Treasury Secretary Scott Bessent warned nations not to impose countermeasures, saying on Fox News: “If you retaliate, there will be escalation.”

Leaders around the world criticised the tariffs, with Australian prime minister Anthony Albanese calling them “totally unwarranted” and his Italian counterpart, Giorgia Meloni, a close Trump ally, saying they were “wrong”.

Scientists worked with Walpiri to track down bilby poo – and uncover clues to help conserve these iconic animals

Science and Health

The greater bilby (Macrotis lagotis) is one of Australia’s most iconic yet at-risk animals — and the last surviving bilby species. Once found across 70% of Australia, its range has contracted by more than 80% since European colonisation.

Today, these nocturnal marsupials, still culturally significant to many Indigenous peoples, are restricted to remote deserts. They face an ongoing threat of extinction.

Local elders, Indigenous rangers and scientists hold valuable knowledge about bilby populations, the threats they face, and strategies needed to sustain them into the future.

Our new study, published today in Conservation Science and Practice, reveals how collaboration between scientists and Indigenous land managers can help yield new and vital information.

In the field, we used two methods – one based on Warlpiri knowledge and one based on standard scientific protocols – to locate bilbies and collect scat (poo) samples in the North Tanami Indigenous Protected Area in the Northern Territory.

By drawing on Warlpiri tracking expertise and Western scientific methods, we uncovered crucial information on bilby populations that could help conserve these rare creatures.

The greater bilby is one of Australia’s most iconic yet at-risk animals.
Ken Griffiths/Shutterstock

Understanding bilby numbers is important – but hard

Bilbies turn over tonnes of soil each year, helping to improve soil health, help seeds germinate and enhance water infiltration. Their deep, complex burrows also provide shelter for other species.

They’re crucial to the health of desert ecosystems; protecting bilbies means protecting the web of life they support.

To do this, we need to know more about:

how many bilbies there are
how they respond to land management techniques such as planned burning
how they respond to threats such as feral predators.

Yet, bilbies are notoriously difficult to monitor directly via live capture. They’re nocturnal, shy and solitary. And they inhabit vast landscapes, making it very hard to estimate population numbers.

Bilby tracks North Tanami (pen for scale).
Hayley Geyle/Author Provided

Luckily, the tracks, diggings and scats bilbies leave behind provide ample clues. DNA from scat (if it can be found) can be used to estimate how many bilbies are present in a particular area.

Systematic ecological surveys, often used to monitor wildlife, can be rigid and expensive, especially in remote regions.

We need flexible methods that align with local knowledge and the practical realities of monitoring bilbies on Country.

A new approach to monitor and manage bilbies

We tested two methods of locating bilby scat for DNA analysis.

The first was systematic sampling. This is a standard scientific approach where fixed lengths of land were walked multiple times to collect scat.

This ensures sampling effort is even over the search area and comparable across sites. However, like most species, bilby distribution is patchy, and this approach can lead to researchers missing important signs.

The second method was targeted sampling, guided by Warlpiri knowledge, to search in areas most likely to yield results.

This allowed the search team to focus on areas where bilbies were active or predicted to be active based on knowledge of their habits and food sources.

Altogether, we collected more than 1,000 scat samples. In the lab, we extracted DNA from these samples to identify individual bilbies. These data, combined with the location of samples, allowed us to estimate the size of the bilby population.

We then compared estimates that would have been derived if we had only done systematic or targeted sampling, or both, to assess their strengths and limitations for monitoring bilby populations.

The deep, complex burrows of bilbies also provide shelter for other species.
Kelly Dixon/Author provided

What we found

We identified 20 bilbies from the scats collected during systematic surveys and 26 – six more – from targeted surveys. At least 16 individual bilbies were detected by both methods. In total, we confirmed 32 unique bilbies in the study area.

When it came to population estimates – which consider how many repeat captures occur and where – combining data from both types of surveys produced the most accurate estimates with the least effort.

Targeted sampling tended to overestimate population size because it focused on areas of high activity. Systematic sampling was more precise but required greater effort.

Combining both approaches provided the most reliable estimates while saving time.

In the lab, we extracted DNA from bilby scat samples to identify individual bilbies.
Hayley Geyle/Author provided

What this means for conservation

Our research highlights how collaboration that includes different ways of knowing can improve conservation.

By adapting standard on-ground survey techniques to include Warlpiri methods for tracking bilbies, we produced better data and supported local capacity for bilby monitoring.

Elders also had opportunities to share tracking skills with younger people, helping keep cultural knowledge alive.

Conservation programs often rely on standardised ecological monitoring protocols – in other words, doing things much the same way no matter where you’re working.

While these protocols provide consistency, they are rigid and don’t always yield the best results. They also fail to incorporate local knowledge crucial for managing species like the bilby.

Our approach shows how integrating diverse ways of working can deliver more inclusive and effective outcomes, without compromising data reliability.

A path forward

Bilbies face ongoing threats including:

introduced predators (particularly foxes)
habitat degradation and
inappropriate fire regimes.

Their future depends on collaborative efforts that draw on scientific and Indigenous and local knowledges.

This study provides an example of how such partnerships can work – not just for bilbies, but for other species and ecosystems.

As Australia confronts biodiversity loss, this research underscores the importance of listening to those who know Country best.

By valuing and respecting local expertise, we can build a stronger future for bilbies and the landscapes that are their home.

Crazy King, Mad Scientists in the US – What’s in it for Greece and Europe?

Science and Health

In the US the king may be crazy, but the scientists are mad. Mad with fury that is. To foreign born men and women able to envisage and materialize the future – it has been estimated that more than 50 % of Nobel prize winners moved to America for their work – who have made America great, again and again, for decades now, Donald Trump’s unapologetic nativism is a deep affront.Even more importantly, the unfolding as much as truly astounding upheaval in US Federal Agencies and Departments is simply incompatible with the scientific enterprise. It is these Agencies and Departments that act as conduits of federal research funding, generate themselves part of the knowledge base that scientific inquiry is based on and convert scientific knowledge in US public policy of often global impact.   Nor does the promised resurrection of the US defence sector as a hotbed of innovation, a sector which is, by the way, more dependent on foreign-born scientific talent than any other US industry, hold much appeal.   European scientists in the US were mobilised against the two monstrous totalitarianisms of the 20th century, Nazi Germany and the Soviet Union. And, now, Denmark?That is why it is time for all Europeans who care for the scientific enterprise, and even more so for Greek ones, to dust off their copies of the Draghi Report on ‘The future of European Competitiveness’. Greece has exported for decades its scientific elite, mostly to the US, with catastrophic consequences for its international competitiveness. The Draghi Report by suggesting massive support, at the EU level, of R&D, essentially envisages scientific diasporas like the Greek one as a key resource for Europe.Admittedly, Greece is at the extreme end of the range of EU scientific diasporas because of its historically dysfunctional university system and limited national funding for research. An earlier study established that Greece had provided more full professors to the top 48 US universities, relative to its population, than any other EU member country.  Still, a bit over a quarter of this professorial cohort of 4,649 individuals came from nineteen altogether EU member-countries, out of a total of 45 countries worldwide, including from France and Germany which feature  well-funded and highly meritocratic research ecosystems.Importantly positive selection dynamics are in play, as Europe’s scientific diaspora in the US would not be captured by innovation activities of medium to low R &D intensity but rather would be attracted by high R&D intensity activities.   Consequently their repatriation is even more significant for Europe’s competitiveness. As the Draghi Report highlights, the EU’s industrial structure, with automobiles still dominant, has led to an R&D commitment to less dynamic and promising technologies than it is the case in the US.As the Draghi Report also notes research in the EU is underfunded, at the federal level, leading to fragmented national efforts of uneven quality and limited scale.  Thus the Draghi Report proposals on federalizing further innovation funding in the EU bear the promise, to Europe’s scientific diaspora, of achieving as scientists in Europe breakthroughs comparable to those that they have been accustomed to in the US.Assuming that a meaningful component of the Draghi Report’s recommendations on innovation funding and governance is adopted, as suggested by the recent publication of the EU Commission’s Competitive Compass, we will then have three dynamics in play.First, the stronger, in terms of national funding and quality of governance, EU member countries will utilise the Report’s policy framework  in order to attract from the US the lion’s share of repatriated EU scientists, say the German research ecosystem attracting top Greek scientists.Second, the weaker, in terms of national funding and quality of governance EU member-countries, like Greece, will opt to mitigate the weaknesses of their research ecosystems, due to the rising opportunity costs of not doing so. By doing so they will be able to convert the loyalty and affection, to the homeland, of their own scientific diasporas into repatriation. However if they fail to raise their game, they will see themselves at the losing side of deepening intra-EU disparities.Third, the UK will be sorely tempted  to reintegrate even more with EU research policy, and ultimately industrial policy, being the closest European proxy, language and governance-wise, to the US research ecosystem and thus inherently attractive to European scientists in the US.No matter how these dynamics play out, it is beyond irony that the current occupant of the White House, himself of partly German descend, is about to gift Europe with this most precious of resources, globally-leading scientific talent.