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Annals of the University “Constantin Brâncuşi”of Tg-Jiu, No. 1/2008, Volume 2, ISSN: 1842-4856 The most recent advances in the European integration process - the creation of the internal market, the Schengen agreement, and the development of the European Monetary Union and its currency, the euro - are considered to contribute to the development of European tourism by providing competitive advantages to the area (Ratz, 2004). One of the greatest challenges in European history was the introduction of the euro as a single European monetary policy. The development of the European Monetary Union certainly has significant impacts of various scope and range on European tourism. Expert expectations have showed that the euro would become a strong international currency to be used in foreign trade, currency reserves, investment and, last but not least, tourism. The single currency is not only just another means of payment, but an instrument of the European identity, a contributor to the positioning of "Destination Europe" in global tourism. In addition, however, the elimination of currency conversion costs, bank commissions and other international financial obstacles will most probably stimulate the mobility of persons, goods and capital within the EMU, thus serving as well as an incentive for tourism development. Among the first to use and disseminate the euro and experience the direct advantages of the single European currency are tourists, with the disappearance of commission charges and of the discrepancy between buying and selling rates (this is quite a significant benefit, considering that a tourist's cash can now lose up to two-thirds of its value while travelling all around Europe simply through currency exchange transactions, without making one single purchase) (Torres Marques 1998). Savings made on transaction costs lead to higher travel budgets, which, at least partly, will hopefully be spent in the tourism sector. Conclusions European Union represents an important inter-governamental body concerned with most aspects of life in Europe. Policy and legislation developed at the European level are playing a increasingly important part in many aspects of everyday lives of those living in EU Member States and are having a fundamental impact on the environment in which businesses operate. Tourism in Europe has changed considerably over the past decade and will continue to change and develop in the future. More than a matter of habit or heterogeneous set of economic activities, tourism has become a determining factor in the life of millions of people; tourism is the best medium for direct encounters and discovery: it is becoming the ideal ground for bringing people closer together. It is a prominent instrument for enhancing the meaning of European citizenship. The European Commission, recognising the important role of tourism in the European economy, has been increasingly involved in tourism since the early 1980's, in co-operation with the Council, the European Parliament, the Economic and Social Committee and the Committee of the Regions. Even if tourism wasn`t a priority for the European Union, there were a lot of direct and indirect community measures affecting this industry as we tried to present them above. References Davidson R., “Travel and Tourism in Europe”, edit. Longman, England, 1998. Forbes, A.H., “Tourism and Transport policy in the European Union”, in A.V. Seaton et all., 1994. Leidner Rüdiger, “The european tourism industry. A multi-sector with dynamic markets”, Edit. for European Commission, March 2004. Leidner Rüdiger, “The european Tourism industry in the enlarged Community - Gaps are potentials and opportunities”, Edit. for European Commission, January 2007. 220
Annals of the University “Constantin Brâncuşi”of Tg-Jiu, No. 1/2008, Volume 2, ISSN: 1842-4856 Lickorish, L.J., “Developing Tourism Destinations: policies and perspectives”, Edit. Longman, London, 1994. Rátz Tamara, “European Tourism”, Kodolányi János University College Székesfehérvár, Regia Rex Printing House Ltd., Hungary 2004. ***, Commission tables new strategy to boost tourism in EU, Bruselles, 2006. 221
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