Bulgaria is set to officially adopt the euro on January 1, 2026, becoming the 21st member of the eurozone. This significant monetary transition is anticipated to invigorate the nation's tourism sector by eliminating currency exchange complexities and enhancing price transparency for international visitors. Tourism Minister Miroslav Borshosh views this move as a strategic advantage that will elevate Bulgaria's standing within the European tourism landscape. However, he has also acknowledged a notable lag in the country's public awareness campaign concerning the eurozone transition, stating that "months and years have been lost" in this regard.
Discussions surrounding the euro's impact on Bulgarian tourism are ongoing, with a focus on the operational adjustments and the tangible benefits it is expected to bring. Experts consistently emphasize that while the euro will undoubtedly streamline transactions, the overall quality of the tourist experience will remain the paramount factor in attracting and retaining visitors. The introduction of the euro is expected to simplify travel for tourists from the eurozone, who constituted nearly 30% of all foreign visitors in 2024. This shift will remove the need for currency exchange, offering greater price clarity and making Bulgaria a more appealing destination. Furthermore, the adoption of the euro is projected to stimulate new investments in tourism infrastructure, fostering long-term growth for the sector and signaling Bulgaria as a stable, secure, and modern destination.
While the transition is largely viewed positively for its economic implications, a segment of the Bulgarian public has expressed reservations, with protests occurring due to concerns about economic hardships and a disinformation campaign suggesting potential poverty increases. Notably, the Bulgarian lev has been pegged to the euro under a currency board since 1997, at a fixed rate of 1.95583 leva per euro, mitigating significant currency risk. Analyses suggest that Bulgaria's inflation rate for 2026 is projected to be between 2.8% and 3.3%, with the euro transition itself contributing only about 0.3 percentage points, largely due to price rounding. This is a minimal increase, echoing the experiences of other nations that have adopted the euro.
Looking ahead, businesses in Bulgaria will need to focus on innovation and operational efficiency to capitalize on the opportunities presented by deeper European integration. The "Rose Effect," where a shared currency encourages increased trade, is also expected to benefit small and medium-sized enterprises. The Deputy Minister of Tourism, Irena Georgieva, highlighted that easier access and greater price predictability will attract tourists, even to lesser-known regions, and encourage individual travelers. This move is seen as a natural progression, similar to the positive impact of joining the Schengen Area, which has further established Bulgaria as a secure destination. Between January and May 2025, Bulgaria recorded nearly 2.7 million tourist registrations, with a 6.8% increase in tourists and a 5.2% rise in overnight stays compared to the same period in 2024, indicating a robust tourism sector poised for further expansion.