site.btaMinisters and Mayors See New Opportunities for Sustainable Tourism under Euro

Tourism is expected to develop well in Bulgaria following the adoption of the euro, as it will create opportunities to attract more foreign tourists and investors. The view was shared by ministers, mayors and tourism industry experts who participated in a discussion in Sofia on Tuesday, titled "The Euro, the Environment, and Sustainable Tourism: New Horizons in a Common Currency".

During the meeting, Deputy Tourism Minister Irena Georgieva highlighted the fine prospects of foreign investment in sustainable tourism facilities, from energy-efficient hotels to eco-villages and educational centres, noting that such sites are becoming increasingly common in Bulgaria. Easier access to Bulgaria and greater price predictability will attract tourists, especially to lesser-known regions, Georgieva added. According to her, there is also potential to encourage smaller groups of individual travelers to visit the country. She noted that the euro is the preferred currency in almost 40% of cross-border payments worldwide and for nearly half of the European Union’s global exports. She expressed the view that Bulgaria’s adoption of the euro in January next year will be well received by tourists, drawing a comparison with the country’s progress after joining the Schengen area.

Deputy Finance Minister Metodi Metodiev said that tourism, together with transport, will see the most immediate and visible benefits from Bulgaria’s adoption of the euro. Metodiev said the euro will make price comparisons easier. He added that the need for currency exchange will disappear and transaction costs will fall. He said an increase in tourist numbers is also expected. Metodiev cited Croatia, where tourist numbers increased after the adoption of the euro.

Deputy Environment Minister Atanas Kostadinov said in his remarks at the opening that Bulgaria must implement environmentally friendly solutions that lead to economic development and benefit society. He stated that the introduction of the euro in Bulgaria will enable better development of policies in ecology and tourism, as well as the country's competitiveness. 

Ognyan Atanasov, Mayor of the southwestern town of Kyustendil, called on the state to invest in strong advertising and target foreign markets. He expects tourist flows to increase after the euro is adopted. “By joining the eurozone, we become a more predictable partner,” Atanasov added.

Marin Kirov, Mayor of Tsarevo, on the Black Sea coast, believes that investments must be made in transport connectivity, wastewater treatment plants, and healthcare. He said that with the euro, Bulgaria will become a more preferred and recognizable destination for foreign investors and tourists. The euro is a unifying element that will provide a wide platform for promotion, Kirov said.