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Annals of the University “Constantin Brâncuşi”of Tg-Jiu, No. 1/2008, Volume 2,<br />

ISSN: 1842-4856<br />

The most recent advances in the European integration process - the creation of the internal<br />

market, the Schengen agreement, and the development of the European Monetary Union and its<br />

currency, the euro - are considered to contribute to the development of European tourism by<br />

providing competitive advantages to the area (Ratz, 2004). One of the greatest challenges in<br />

European history was the introduction of the euro as a single European monetary policy.<br />

The development of the European Monetary Union certainly has significant impacts of<br />

various scope and range on European tourism. Expert expectations have showed that the euro would<br />

become a strong international currency to be used in foreign trade, currency reserves, investment<br />

and, last but not least, tourism.<br />

The single currency is not only just another means of payment, but an instrument of the<br />

European identity, a contributor to the positioning of "Destination Europe" in global tourism. In<br />

addition, however, the elimination of currency conversion costs, bank commissions and other<br />

international financial obstacles will most probably stimulate the mobility of persons, goods and<br />

capital within the EMU, thus serving as well as an incentive for tourism development.<br />

Among the first to use and disseminate the euro and experience the direct advantages of the<br />

single European currency are tourists, with the disappearance of commission charges and of the<br />

discrepancy between buying and selling rates (this is quite a significant benefit, considering that a<br />

tourist's cash can now lose up to two-thirds of its value while travelling all around Europe simply<br />

through currency exchange transactions, without making one single purchase) (Torres Marques<br />

1998). Savings made on transaction costs lead to higher travel budgets, which, at least partly, will<br />

hopefully be spent in the tourism sector.<br />

Conclusions<br />

European Union represents an important inter-governamental body concerned with most<br />

aspects of life in Europe. Policy and legislation developed at the European level are playing a<br />

increasingly important part in many aspects of everyday lives of those living in EU Member States<br />

and are having a fundamental impact on the environment in which businesses operate.<br />

Tourism in Europe has changed considerably over the past decade and will continue to change<br />

and develop in the future. More than a matter of habit or heterogeneous set of economic activities,<br />

tourism has become a determining factor in the life of millions of people; tourism is the best<br />

medium for direct encounters and discovery: it is becoming the ideal ground for bringing people<br />

closer together. It is a prominent instrument for enhancing the meaning of European citizenship.<br />

The European Commission, recognising the important role of tourism in the European<br />

economy, has been increasingly involved in tourism since the early 1980's, in co-operation with the<br />

Council, the European Parliament, the Economic and Social Committee and the Committee of the<br />

Regions.<br />

Even if tourism wasn`t a priority for the European Union, there were a lot of direct and<br />

indirect community measures affecting this industry as we tried to present them above.<br />

References<br />

Davidson R., “Travel and Tourism in Europe”, edit. Longman, England, 1998.<br />

Forbes, A.H., “Tourism and Transport policy in the European Union”, in A.V. Seaton et all.,<br />

1994.<br />

Leidner Rüdiger, “The european tourism industry. A multi-sector with dynamic markets”,<br />

Edit. for European Commission, March 2004.<br />

Leidner Rüdiger, “The european Tourism industry in the enlarged Community - Gaps are<br />

potentials and opportunities”, Edit. for European Commission, January 2007.<br />

220

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