General Travel News

Remember the Drachma?

The economic problems currently being faced by Greece may result in the country pulling out of the EU and re-establishing its old currency - the drachma - instead of the euro. Banks in Europe are scrambling to make provisions for such an eventuality. Recently, the leading German travel operator TUI sent out letters to hotels in Greece asking them to renegotiate their rates in drachmas to avoid losses in case Greece pulls out of the euro.

But currency woes are not limited to Greece. On November 24, the credit rating agency, Moody's, downgraded Hungary's ratings to "junk" - and the value of the Hungarian currency - the florint fell by 6% to 238 Florint per US$. Although Hungary is part of the European Union, it has not yet integrated its currency with the Euro. Another ratings agency, Fitch, declared on Friday, Nov 26, that Portugal's government bonds were worth "junk" exacerbating the already difficult economic scene in Europe.

Italy lost its Prime Minister Berloscuni due to their economic woes while Spain and Belgium are also facing similar problems.

If Greece starts using the drachma, travelers will benefit from lower prices and Greek tourism may see a big inflow of tourists.

More General Travel News
Eid Mubarak!
Prizes and concerts to mark 10th year of “Eid in Dubai”
Dubai among top 10 international meetings destination
Latest Travel News
Waldorf Astoria Ras Al Khaimah invites g...
Prizes and concerts to mark 10th year of...
Eid brunch at Bahi Ajman Palace Hotel...
Featured Sights To See
Plaza de la Constitución (El Zócalo)

Plaza de la Constitución (El Zócalo)

Mexico City, Mexico

The third largest public square in the world. A display of some of the city’s finest monuments, including the impressive National Palace and the Metropolitan Cathedral. Contains a large Mexican flag in the center of the square, believed to be the overseer of unity within the Mexican Republic. A large variety of social and cultural events takes place here, ranging from the wildest concerts to the w...

Astronomical Clock

Astronomical Clock

Prague, Czech Republic

Old Town Hall Times: the chiming times are every hour on the hour from 9am to 9pm Don’t bother trying to read the time on this clock (look to the clock above it for the time) which is a mechanical marvel, constructed in 1490. Crowds gather before this clock to witness Death ring a bell, inverts his hourglass and the 12 apostles parade through the windows then a cock crows – all in the spac...

Snowplanet

Snowplanet

Auckland, New Zealand

New Zealand's First and only indoor ski resort. Open 365 days a year. Hours: Daily 9am-midnight Address: 91 Small Rd Location: Silverdale Phone : 09/427-0044 Prices: Admission for 1 hr. NZ$36, adults, NZ$30, children under 12; day pass NZ$50, adults, NZ$45, children under 12. Rental equipment and clothing available for extra cost        ...

Brooklyn Museum

Brooklyn Museum

New York, United States

The Brooklyn Museum is the second largest in New York City, after the Met, and one of the largest in the United States.  In recent years it has struggled somewhat with its identity and stagnant attendance figures (around half a million per year), but it is still a world class museum.  The Egyptian and pre-Colombian collections stand out, but their modern collections are also excellent.  ...