Q4 2025 Data Points: Key Trends in Goods and Services

Having lived in multiple countries and having traveled to over 70, including almost 40 as a researcher at AIRINC, I’ve seen firsthand how political and economic changes show up in everyday life. From the currency in your wallet to how a country defines itself on the global stage, the only constant in life is change. 

In my role as Director of Data Research & Analysis at AIRINC, my team and I monitor these shifts closely to ensure our data reflects the realities mobility teams are navigating today.

Every quarter AIRINC’s Data Points highlight select findings from our ongoing research, offering insight into where and how our data is evolving each quarter. This quarter’s cost-of-living research was conducted primarily in Europe, Asia, and mainland Southeast Asia, reflecting targeted updates in regions experiencing continued economic and structural change.

When does Bulgaria adopt the euro?

One of the most notable updates reflected in our data is Bulgaria’s adoption of the euro on January 1, 2026. In doing so, Bulgaria becomes the 21st European Union member state to enter the Eurozone. As part of the convergence criteria, the European Central Bank has been monitoring Bulgarian financial institutions and the lev-to-euro exchange rate since 2020. The most recent country to join the euro area prior to Bulgaria was Croatia in 2023. All AIRINC data will reflect the new official currency in 2026.

Which countries have changed their official currency?

While Bulgaria’s transition to the euro is one of the most notable upcoming updates, it is not the only example of how official reference data evolves over time. In recent years, several countries have made changes that required updates to currency and country identifiers.

Recent official currency changes include:

• As mentioned, Croatia replacing the kuna with the euro in 2023
• Zimbabwe introducing the Zimbabwe Gold (ZiG) currency in 2024 after multiple prior currency resets
• The replacement of the Netherlands Antillean guilder with the Caribbean guilder for Curacao and Sint Maarten in 2025
• Ecuador previously adopting the U.S. dollar as its official currency, a reminder that some currency shifts are permanent and structural rather than incremental
• Montenegro and Kosovo continuing to use the euro as their de facto currency despite not being formal Eurozone members, creating unique reference data considerations
• Currency redenomination such as in Sierra Leone in 2022 and Venezuela in 2021

Potential and Anticipated Changes on the Horizon

Looking ahead, there are a few areas where future changes are possible, though not yet confirmed. From a data perspective, these are developments that mean we will continue monitoring and if changes are made we will implement.

Potential future currency changes:

• Additional European Union member states may move closer to euro adoption over the coming years as they meet convergence criteria, though this is not guaranteed
• Countries experiencing prolonged inflation or monetary instability may pursue currency redenomination or replacement, particularly where confidence in existing currencies is low
• Ongoing discussions around central bank digital currencies (CBDCs) could eventually influence how official currencies are defined and reported, even if physical currencies remain unchanged