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The United States is swimming in oil. It has surpassed even Saudi Arabia and has emerged as the world’s biggest oil producer.

All of that means cheaper gas, lower heating bills, and hopefully less relevance of rogue nations, and terrorist groups, that are financed nearly-exclusively by oil revenue.

But cheaper oil prices can mean something else, too: cheaper flights, including from the United States to Greece.

Whereas in recent summers, particularly since the 2008 recession, Greek-Americans (like their non-Greek counterparts) have gone into belt-tightening mode, cutting down on even those things that teeter on the line between luxury and necessity, such as a visit to the beloved homeland.  Rising prices for plane tickets made such trips even scarcer. Families who would travel to Greece every summer scaled back, now going every tw0, three, or four years.

But if oil prices continue to drop, or even level off long-term, that could translate to consumer-valued flights and recreate the annual pilgrimage to Greece.

Stay tuned!

The post Does Cheap Oil Mean More Greek Travel? appeared first on The National Herald.

Source: The National Herald
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