International Judicial Monitor

Published by the International Judicial Academy, Washington, D.C., with assistance from the
American Society of International Law
Fall 2015/Winter 2016 Issue

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100 Ways

International Law: One Hundred Ways It Shapes Our Lives

100 Ways

The Euro: making tourist travel in Europe easier and less expensive.

By: Starkeisha Tucker, Intern, International Judicial Academy

(In celebration of the 100^th anniversary of the founding of the American Society of International Law in 2006, the Society published a pamphlet titled International Law: One Hundred Ways It Shapes Our Lives. The introduction gives an explanation for its conception: an affirmation that: “international law not only exists, but also penetrates much more deeply and broadly into everyday life than the people it affects may generally appreciate.” This column seeks to elucidate and elaborate on many of the 100 ways briefly presented in the ASIL pamphlet.)

Over the past 16 years a majority of European countries (19 of 28) have joined a uniform monetary system—converting individual currency to the euro. The first launch of currency sharing countries occurred in 2003. Twelve countries including Italy, Spain, Ireland, Germany and The Netherlands converted.

Because of the introduction of the euro and EU expansions, citizens of member states may travel

between countries without the need to exchange currency, thereby encouraging the tourist trade.

Tourism is a source of revenue for many countries, including those in the EU. As examples of the influence of the euro on tourism, the number of arrivals in Lithuania – which converted to the euro in January 2015 – rose to over 2 million visitors since 2012. Lithuania’s Baltic neighbor Latvia, who converted one year earlier, increased to over 1.5 million from 1.1 million in 2005. For the Netherlands, Germany, and Croatia tourism is continuously growing. In 2013, Croatia was voted best travel destination by a host of travel websites. Tourists, in search of the picturesque coast, may exchange currency prior to their arrival, as well as use ATMs, to avoid carrying large amounts of cash. The problem arises not knowing which businesses accept what currency.

With a common currency travelers may pass from country to country with more ease. According to one international monitoring organization, in March 2015 the weaker euro invited favorable hotel rates; a 300 euro Paris hotel was equivalent to $318, a significant change from the cost of the euro in previous years. During the summer months, the euro has dropped even lower making a trip across the Atlantic even more desirable. While rates are low American tourists can take full advantage of the financial change. Savings can be seen in retail, dining, taxis, and entertainment.

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International Judicial Monitor
© 2016 – The International Judicial Academy
with assistance from the American Society of International Law.

Editor: James G. Apple.
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