Bulgarians Wary, Foreigners Flock: The Euro Arrives in 2026

Bulgarians are approaching the introduction of the euro on January 1, 2026, with a mix of apprehension and optimism. For some, adopting the common currency is a natural step toward deeper integration into the European Union, offering promises of economic stability and simpler business operations. Yet many remain concerned about rising prices and potential inflation, questioning whether the euro will further erode their purchasing power. While institutions and segments of the business community support the change, uncertainty continues to shape public sentiment.

Economist and accountant Hristo Marinov, whose firm primarily works with foreign clients living and operating in Bulgaria, notes that the euro’s adoption is already influencing behavior. "A significant number of clients ask about accounting changes and tax obligations, while others are focused on whether property prices or living costs will rise. Many live here for the lower costs," Marinov explained to Radio Bulgaria. He observed that Bulgaria’s entry into the Schengen area in early 2025, combined with the euro transition, has boosted foreign interest, particularly among digital nomads and entrepreneurs. His firm now serves citizens from nearly every European country.

From 2024 to the end of 2025, Marinov estimates that new clients will contribute over 3 million leva (€1.53 million) annually to the Bulgarian budget through taxes and social contributions. Additionally, they are expected to spend roughly 50 million leva (€25.5 million) locally on living costs, real estate, and other expenses, stimulating domestic consumption.

Marinov emphasizes that current price increases are part of a broader European trend rather than a result of joining the Eurozone. "Inflation accelerated after 2020 due to post-Covid economic injections across Europe. Prices are higher elsewhere - for instance, a 500-euro rent in Bulgaria would cost 2,000 euros in the Netherlands. Adopting the euro will reduce transaction costs, attract investors, and make bank financing easier, which strengthens the business environment and ultimately improves living standards," he concluded.

The euro’s arrival thus brings potential economic benefits, particularly from foreign investment and consumption, even as Bulgarians weigh the risks to their daily expenses.

Source: BNR interview