Travel boom to follow collapse of Euro

The widely-predicted demise of the Euro could herald a return of traditional cheap summer European destinations such as Greece and Spain, according to economists.

Speaking at the ABTA conference,  Douglas McWilliams, of the Centre of Economics and Business Research, said Mediterranean countries were likely to revert back to their original currencies should the financial crisis in the eurozone deteriorate even further.

He said: “The euro will definitely break up. All I can say is that it will definitely happen within five to 10 years… What will happen is that Mediterranean destinations will drop out of the Euro... When they come out they will start to be competitive again and will start to structure their economies around tourism again, which is going to be quite important to them”

Source: BTN

04.06.10