Until late 2007, Malta's currency had been the Maltese Lira and last October saw the first signs of a currency change from the Lira to the euro.
In December 2007, banks started providing euros for business customers and New Year's Day was the first day the euro was fully implemented as the new currency for the island.
Businesses and banks still allowed payments to be made in either currency until the end of January, when all bank accounts and investments were converted to euro from the Maltese Lira.
Some argue that this change in currency will make Malta too expensive as a summer holiday destination.
The London Times went so far as to call Malta "one destination to avoid." The article added, "Prices rose by about 10 percent with its changeover to the euro, so, combined with the fall in sterling, Malta has effectively become 17 percent more expensive in the space of four months."
Tonio French, Malta's minister of finance, has expressed disappointment in such negative comments. According to French, "the 10 percent figure is absolutely untrue" as "provisional calculations show the total impact of the changeover on inflation was probably between 0.2 and 0.3 percentage points."
French has said that Malta's government will be seeking requital for the newspaper's potentially harmful statements.
However, it is doubtful that such allegations will have any negative impact on Malta as a favourite holiday destination for British tourists.
January through November 2007 saw an increase in British tourists of nearly 13 percent. Malta has a very good international tourism base, which isn't likely to change any time soon. The island is very popular among U.K. tourists looking for a quick getaway spot.
Inexpensive flights to Malta from various points in the U.K. help offset any inflation caused by the change from the lira to the euro.
Several airlines are offering multiple flights to and from Malta. These less expensive flights will assist tourists in making the most of their holiday plans.
Malta has many attractions for international tourists, including theme parks, galleries and museums. Attractions on Malta aren't expected to lose their appeal simply because of slightly higher monetary exchange rates.
The biggest impact on the tourist's wallet is going to be current exchange rates from sterling to euro. The sterling and the dollar have been losing ground to the euro for several months.
The Maltese lira may have been slightly less expensive than the euro, but the change in currency is being viewed as a positive move for Malta.
Government and tourism industry officials expect to maintain the steady rise in tourism the island has experienced over the last few years.
Malta often has been referred to as the "island of sunshine and history." Its location provides nearly 300 days of sunshine per year, making Malta one of the most sought-after tourist destinations in the world.
Its picturesque landscapes offer beauty and awe in every direction for as far as the eye can see.
Malta is also very rich in history, with some artifacts pre-dating Egypt's pyramids. History buffs will enjoy the variety of treasures and artifacts on display in Malta's museums.
Many of Malta's historic churches still stand and are used for worship today. The gardens and historic architecture on Malta and its sister islands, Gozo and Comino, are very big tourist attractions, as well.
Got a Question? Ask.
Ask the community a question about this article:
Q&A Powered by:
Latest Destinations Articles
Experience the Mayan Culture While Volunteering in Guatemala
By: Enrique Helmbrecht | 29/08/2008
Guatemala is one of the most important places in Latin America where Mayan influence and its legacy are still intact. By volunteering in Guatemala you will get a grasp of the unique local culture that retains much of the customs from centuries ago.
Place De La Bastille
By: Naveen Marasinghe | 29/08/2008
Once a place of horror and merciless cruelty, the Place de la Bastille is now a public square with a market, an opera house, cafes, bars, nightclubs and a marina. Replacing the historical destruction and chaos with an energetic business and pleasure environment, the Place de la Bastille is a must-visit site in Paris.
Helicopter Over Angkor Wat
By: Naveen Marasinghe | 29/08/2008
Helicopter tours are gaining popularity worldwide, as they provide panoramic and breathtaking views of otherwise lackluster landscapes and sites. Cambodia has introduced this great opportunity to those visiting the Angkor Wat temples. Taking a ride on a helicopter over the mystical temples of Angkor Wat is an experience that should not be missed.
Beaches in Tenerife
By: Elena Carr | 29/08/2008
The beaches are the main attractions in Tenerife drawing many tourists to visit the island for its wonderful beaches. As one of the main island in the Canaries, Tenerife is home to many beaches that everyone would surely love
Beaches in Kos
By: Elena Carr | 29/08/2008
Cheap holidays Kos takes pride in many tourist sites and holiday ideas it gives to its increasing tourists. In Kos, you can visit historical sites, go for some nightlife, nature tripping or simply enjoy the beach. Yes, the beach- Kos’ best asset as a holiday destination. With its clear and crystal waters, golden sands and warm sunshine, the island of Kos tops the list for most favorite cheap holidays destination.
Beaches in Ibiza
By: Elena Carr | 29/08/2008
Cheap holidays Ibiza is popular among holiday seekers for its fun, vibrant and relaxing beaches. There are 80 beaches in the island of Ibiza, each promising a different type of activity and preferences to all its visitors on cheap holidays. There are beaches that are best for those who are into boating and yachting; those who want a luxurious beach holidays; those who have families; those who want solitude and lastly those who want privacy to get nude on the beach.
Vacation Villa Rentals for Private Holidays
By: Michael Lee | 29/08/2008
Tourism is a driving force for the economies of many nations around the world. For example, the Balearic Islands and Canary Islands are very popular Spanish vacation destinations. Both destinations offer a wide variety of accommodations from one-star hotels to villa rentals. Villa rentals are becoming increasingly popular as a means of getting away from everyday life.
Where to Rent a Villa in Spain
By: Michael Lee | 29/08/2008
Traditionally, vacationers focus their attention on resorts and hotels. Many times the more private and maybe more affordable alternatives are overlooked, simply because they are not a widely used option. In several vacation destinations in Spain, certain pieces of personal property may be for rent. Homes, villas, condominiums and the like can often be acquired at very reasonable prices.
More from Roger Munns
Healthy Flying at Malta International Airport
By: Roger Munns | 29/08/2008 | Health
Malta International Airport has addressed the negative issues associated with flying and has taken action to change the perception of airlines. The Healthy Flying campaign provides products to help passengers feel better during their flights.
Majorca Helps British Cycling Hit Olympic Goldmine
By: Roger Munns | 28/08/2008 | Sports and Fitness
The 2008 Summer Olympics in Beijing Britain cycle away with no less than eight gold medals, and helped propel Britain to fourth in the medals table. Did this amazing victory have anything to do with their training in Majorca recently?
Familys Stay United With Low Cost Airlines
By: Roger Munns | 28/08/2008 | Flights
Gone are the days when family members would all live in the same town or village - people are more mobile now than just a couple of decades ago, but the number of airlines offering low cost flights have too, allowing families to visit each other no matter what the distance.
Accolade For Lanzarote Beaches
By: Roger Munns | 27/08/2008 | Destinations
There's a lot of reasons why Lanzarote is a favourite European holiday destination, including the good all year round weather.
And one of the island's beaches has just been included as one of the top ten in the world.
The Canary Islands and Tenerife
By: Roger Munns | 25/08/2008 | Destinations
Until recent years, the perfect island vacation was something many people only dreamed of. Thanks to mass tourism and the popularity of affordable vacation packages, island getaways are becoming a yearly event for millions of people. Cruise companies and airlines have made efforts to make travel more affordable.
Malta Purchase US Rescue Helicopter
By: Roger Munns | 24/08/2008 | Technology
In an effort to improve its rescue and security services, the government of Malta has recently purchased a new type of U.S.-made helicopter. Malta is the first country outside of the U.S. to use the UH-72A, a helicopter that American armed forces have only recently begun to use.
Cheap Flights Slows Majorca Property Drop
By: Roger Munns | 22/08/2008 | Real Estate
Property owners in Majorca are seeing the values of their apartments and villas drop, as elsewhere.
But low cost airlines and cheap fares are stopping the drop becoming a rout.
Resort Areas in Menorca
By: Roger Munns | 21/08/2008 | Destinations
As one of the most popular vacation destinations in the world, Menorca has a large array of luxury accommodation. Hotels with ratings ranging from one star to five star play host to millions of tourists per year in Menorca and the neighbouring island of Majorca.
Travel 
