Did you know that there are European countries that don’t use the euro? Of the 27 nations that make up the European Union (EU), 20 use the euro as their official currency, in the region known as the Eurozone. While most countries that join the EU are required to adopt the euro as part of their membership, there are seven member states that have yet to adopt the currency.
Of course, there are pros and cons for an EU-member country using a currency specific to their own economy. As far as advantages go, such a country is able to more fully dictate its own financial and monetary policies, without being beholden to the larger group. They can adjust exchange rates and interest rates, for example, to suit their economic needs. Furthermore, a country with its own currency avoids the liabilities associated with being part of a larger currency union. If a financial crisis affects the euro, these seven European countries that don’t use the euro will be spared from the brunt of it.
For travelers, this variation in exchange rates could be useful to know. If you want to visit a European country and want your dollar or pound or peso to stretch even further, you might head to a destination with a more favorable currency conversion. Here’s a list of the non-eurozone EU member countries.
Bulgaria
With glacial lakes, spectacular mountain ranges, a coastline along the Black Sea and fascinating historical monuments, Bulgaria is developing into an attractive holiday destination in Europe.
Currency: Bulgarian Lev (BGN) (1 BGN = 0.54 USD)
Where to stay: Kempinski Hotel Grand Arena Bansko
Czech Republic
Located in Central Europe, the Czech Republic has the highest concentration of castles in the continent, some dating back to the 1300s, making it a paradise for architecture and history enthusiasts. Plus, Prague, the Czech capital, is home to the world’s largest castle complex. The country is also famed for its tradition of brewing beer, which began as early as 993 AD.
Currency: Czech Koruna (CZK) (1 CZK = 0.043 USD)
Where to stay: Augustine, a Luxury Collection Hotel, Prague
Denmark
Denmark may be the smallest of Northern Europe’s Scandinavian countries, but it’s big on gourmet food, culture, design, and wellness.
