Visa cancellation to benefit tourism and banks

As the visa regime for Romanian citizens willing to travel to the EU countries will be lifted next January, the first to benefit from this situation are the travel agencies, international carriers, insurance companies and the banks.

Romanians will be allowed to travel freely to Europe starting next year, provided they prove they have money, healthcare insurance and a two-way ticket or a green card if they travel by car.

They will be able to prove they have enough money by presenting the currency in cash, traveller’s cheques or credit cards for the hard currency-denominated accounts, as well as other financial guarantees.

The number of Romanians resorting to traveller’s cheques is expected to surge. The cheques, issued by American Express or Thomas Cook in dollars, DM or euros, may be used abroad to withdraw cash and pay for certain services or products in the hotels, restaurants and stores.

Banc Post sold traveller’s cheques worth more than 1.6 million dollars over the first six months of the year, almost double against the year-ago period.

According to Cornel Gaina, chairman of the National Association of Travel Agencies in Romania, the first effect triggered by the cancellation of the visa regime would be a 10-20% price decrease in the tourism packages, given that the visa fee amounted to some 20-80 dollars, while the tourist traffic is expected to increase by 30-40% in the first stage and by 10-20% over the entire year.

“Travel agencies will get rid of the competition of unauthorised companies or intermediaries that dealt with the visa traffic. People will mainly go to travel agencies, as the problems related to the doubts of getting a visa will no longer exist,” Gaina said.

Tourism minister Dan Matei Agathon considers that, in the short term, the visa cancellation will prompt a surge in the number of Romanians visiting European countries and the resumption of this activity is supposed to increase by 10% Romania’s earnings derived from tourism activities.