Investment Property in Bulgaria

Tourism

Established year-round destination

Bulgaria’s Black Sea Coast was a favoured hotspot for Soviet dignitaries and Bulgaria’s own upper classes for much of the latter half of the last century and a certain amount of tourist infrastructure was already in place when the country’s recent tourist boom began. However, in the last ten years arrivals have soared and money has poured in from all directions to existing and new coastal destinations and to the country’s four main ski resorts. The country is now firmly established as an affordable summer and winter destination and major tour operators have a solid presence in all the leading coastal and mountain resorts.

Affordable option

Bulgaria continues to concentrate most of its tourism promotion on its summer/coastal and winter/ski markets. The major factor here is affordability: in terms of infrastructure Bulgaria cannot compete with established beach destinations such as Spain and Cyprus, but it can offer superior value for money in terms of accommodation rates and the cost of food, drink and transport – and, in the case of the mountain resorts, the cost of skiing. An increasing number of package deals offer bargain rates for stays on the coast.

Tourism revenue

The Black Sea Coast continues to be a major money-spinner for the country despite its comparatively short season. During the summer months the coast is packed to the seams with visitors from across Europe and from within Bulgaria itself. Resorts such as Sunny Beach heave with the throngs of holidaymakers, whose spending in the countless bars, hotels and growing number of casinos contributes to a vital part of the country’s economy.

Winter sports industry

The major ski resorts of Bansko, Borovets, Pamporovo and Vitosha are becoming increasingly renowned as affordable ski destinations. Bulgaria’s climate ensures that snow stays later in these resorts than in many other European ski getaways and the winter sports industry is becoming increasingly important to the country. Bulgaria’s failed bid for the 2014 Winter Olympics (seen by many as more of a publicity stunt than a genuine attempt) drew a lot of attention and the government has pledged many millions of euros for infrastructural improvement.

Visitor numbers

Bulgaria’s tourism industry has developed over the course of a few years; it demonstrated its potential in 2002 when, against a backdrop of slow tourism worldwide, visitor numbers to the country increased by 20% from the previous year. More recently, visitor numbers in 2005 exceeded 4.6 million, increasing to over 5.1 million in 2006, bringing in revenue of €2 billion.

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