subject: Weak Euro Continues To Stimulate Tourism In The Eurozone [print this page] With internal conflict in Greece threatening to derail the (second) EU bail-out and with announcements that Italy's borrowing rate has reached a record high, the future of Europe's main currency - Euro is in sever crisis. The recent news regarding pressure to disband the Euro zone is further impacting the EU economic situation.
The politicians and bankers are all at their wits end, but will the euro zone's current economic turmoil have any significant effect on visitors from or to European destinations. Certainly, the euro is under threat, and because Europe is such an important destination for tourists from all over the world, the economic fundamentals of the Euro currency would play an important role. The failure of EU zone could have varied consequences on the Euro currency and individual currencies of each EU member.
What does the current euro crisis mean to your travels? Splitting up of the euro zone will lead, at least for a few years, to better exchange which will favor the travelers greatly. Travel, in at least some of the countries, will become less expensive. The migration would probably be relatively small and slow and there is no chance of Europe turning into a "budget paradise" to any significant degree. But if Portugal, Spain, Italy, and Greece exit the euro zone, then travel to these countries will become cheap beyond doubt. On the flip side, Germany, Austria, the Netherlands and possibly France might get more expensive for travelers. It's been tricky to predict the Euro currency direction through the year, exchanges dealing with the Euro have been going through several ups and downs with extreme fluctuations in the foreign exchange markets.
Undoubtedly Europe has always been a very popular holiday spot which has been catalyzed by the launch of budget airlines and the short flight duration from the UK. The current value of Euro currency makes the region all the more attractive.UK holiday travelers can cash in this situation as they will get more Euros in exchange for less pounds and the benefit can be compounded by purchasing travel currency online. According to the ITB World Travel Trends Report compiled by IPK International, European tourism industry figures are high despite the continuing economic instability. The figures are based on extracts from the European Travel Monitor and World Travel Monitor as well as from evaluations made by more than 50 travel experts and scientists from around the world. A year-on-year comparison shows that trips out of Europe have improved by four per cent which has pushed up the tourist exchange rate. Travel spending in many European countries has risen by two per cent which clearly indicates that the economic volatility has not drastically affected travel spending. According to logistics, the tourism industry is doing very well primarily because of low prices, good deals and easy booking facilities of tourism packages online. Even in the wake of Euro crisis, European countries continue to attract international tourists as one of the worlds leading holiday destination market.
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