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
Constance Halaveli Maldives offers the luxury of space in seclusion
Multiple Langham Hotels named in 2020 Readers' Choice Award
Swiss Belhotel to open 4 new hotels in the GCC
Latest Travel News
Multiple Langham Hotels named in 2020 Re...
Swiss Belhotel to open 4 new hotels in t...
Abu Dhabi and Wizz Air announce establis...
Featured Sights To See
Museu do Chiado

Museu do Chiado

Lisbon, Portugal

This gallery has a permanent art collection of 19th-20th century pieces from Rodin, Jorge Vieira and Jose de Almada Negreiros. Check the website for upcoming exhibitions. Tel: +213 432 148 Website: www.museudochiado-ipmuseus.pt Address: Rua Serpa Pinto 4 Opening Times: 10am-6pm Tue-Sun Admission Prices: adult/under 14yr/concession €4/free/2.50, admission free 10am-2pm on Sundays ...

Gold of Africa Museum

Gold of Africa Museum

Cape Town, South Africa

African gold is celebrated in this museum which houses one of the most exquisite and beautiful gold collections the world over. This museum gives insight into the history of this gold and the evolution in design over the years. Artisans from all over the African continent from countries such as Ghana, the Ivory Coast, Mali and Senegal are paid tribute for their skills in carving and designing extr...

Christianshavn's Canal boat tour(Kajak ole)

Christianshavn's Canal boat tour(Kajak ole)

Copenhagen, Denmark

This district is built around an extensive canal system which carries tourists hitherto. It’s a perfect place to go for a walk or have a picnic on a warm and sunny summer’s day. The tours can b as long as 3 hours and as short as 1 and a half hour with prices approximating 245 Kr. For the entertainment of the tourists, special water games are also organized. Address: Strandgade 50 Telephon...

Saint Peter's Basilica

Saint Peter's Basilica

Rome, Italy

Saint Peter’s Basilica is a large church in the Vatican City in Rome. It is believed to be the burial place of St. Peter who was one of the twelve apostles of Jesus.Catholics believe that St. Peter was buried in a cemetery where the Basilica now stands.  This is a holy place for devout Catholics who come here for pilgrimage. It is the spiritual centre of Catholicism. The Pope, who lives at th...