Opening page…
Travel News

Remember the Drachma?

Published by Irhal

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…

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 Travel News

All travel news
Thailand Unveils Summer Holiday 2026 Shopping Bangkok, Thailand, 31 July 2026: press image

Travel News

Thailand Unveils Summer Holiday 2026 Shopping

This summer, Central Shopping Centers invites international visitors to experience the best of shopping, dining, and leisure with Summer Holiday 2026, running from 20 July – 30 September 2026. Created exclusively for international tourists, the campaign offers shopping privileges across Thailand’s five world-class shopping malls: centralwOrld, Central Park…

Read full story
Special "Ahlan Jordan" Prices for Tourists press image

Travel News

Special "Ahlan Jordan" Prices for Tourists

The Ministry of Tourism and Antiquities and the Jordan Tourism Board, in cooperation with tourism associations, have launched the integrated digital platform "Ahlan Jordan" as part of measures to support the tourism sector and address the impact of regional circumstances on travel activity.

Read full story