Innovative property investments
Investment Property in Bulgaria
Buying Guide
Economic Drivers
Electrical powerhouse
The most prominent component of Bulgaria's industrial base is power; despite being relatively short of natural resources the country is a leading exporter of electricity thanks to its array of nuclear power generators at the Kozloduy plant on the Danube.
Although four of the six Kozluduy reactors have been closed down as part of Bulgaria's accession treaty with the EU, the remaining two continue to supply a significant proportion of the Balkans' electricity.
Bulgaria recently announced the development of another two-reactor plant near the Kozluduy site, which will begin production in 2013.
Industrial strength
In common with much of the former Eastern Bloc Bulgaria also boasts a considerable machine-building industry, employing almost a quarter of its population.
Heavy plant and vehicle production are major revenue-generators and of increasing importance following the surge in foreign direct investment brought on by economic liberalisation.
There has been a resurgence in the country's shipbuilding trade with factories in Varna and Burgas and in the Danube port of Ruse.
Also of significance are Bulgaria's metallurgic industries, with huge copper, aluminium, lead and zinc refineries situated in key cities throughout the country.
Strong on service
The dominant service sector has been boosted by Bulgaria's solid education system (one of the communists' better legacies) and high literacy and numeracy levels: nearly 99% of the population are literate and the country possesses a number of fine educational, scientific and technological establishments.
Key commercial headquarters are, as is to be expected, predominantly based in Sofia although the service sector is benefiting the country as a whole with substantial sector-related job creation in every major city and town.
Tech-savvy
Telecommunications and information technology are vital components of the economy; Bulgaria is one of the most tech-aware states in Eastern Europe, with nearly 80% of its inhabitants owning mobile phones and with over 100,000 internet hosts located in the country.
Mounting tourism
Tourism and, of course, its half-cousin property are both increasingly important sectors.
Bulgaria continues to be popular with Russian visitors who for many years have frequented the Black Sea coast, but the last decade has seen a remarkable increase in the number of arrivals from Western Europe, drawn by novelty, excellent affordability and flourishing facilities.
Revenue from international tourism is expected to have exceeded 2.5 billion USD in 2006 according to government predictions, while the gross capital benefit of the country's property boom has not so far been officially calculated.
Key facts
- Service-led economy driven by a highly educated and literate society
- The export of electricity, heavy plant and vehicle production and metal refining are the country's key industry revenue-generators
- International tourism revenue for 2006 is expected to have exceeded 2.5 billion USD
Downloadable Reports and Documents
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