Bulgaria adopted the euro in January — and immediately faced negative consequences

Bulgaria adopted the euro in January and immediately faced negative consequences. Prices rose significantly, and the number of tourists decreased by 35%. After the switch to the euro, many businesses, especially in tourism, hospitality, and services, substantially raised prices, often rounding them up. As a result, Bulgaria, which for many years attracted tourists due to its relative affordability, suddenly lost its competitive advantage. People began choosing more cost-effective destinations.