Bulgaria

Tourism in Bulgaria

The upgrading of the country’s tourism infrastructure is one of the highest priorities of the Bulgarian Government, chiefly for its potential in generating hard currency revenues. Currently the main tourist areas are the ski resorts well known to Western Europeans and the Black Sea beach resorts long popular with East Europeans. In 2003 around 3.8 million tourists visited Bulgaria, some 180,000 of which came from the UK. The total visitor figures are up 17% on the previous year and the rising trend is set to continue well into the country’s full EU integration.

Projections for 2006 point to a near 30% growth of permanent employment within the tourist industry from the 130,000 currently employed. In addition are the seasonally employed workers.

Since 1999 virtually all of the tourism assets are privately owned and operated. As a result of the major investment and upgrade of the past few years, the tourist sector is now one of the fastest growing industries in Bulgaria.

At the end of 1998 a major US consulting firm in Bulgaria did a survey asking foreign investors in Bulgaria to identify which sectors of the economy would provide the best opportunities for new entrants. Seven out of ten respondents pointed to tourism which is already a source of tax revenue 2 to 3 times greater than its share of national income even though much of the industry is characterised by a number of shortcomings and problems, chiefly that the facilities on offer are below those that would be expected using international standards as a guide.

All of that should change however due to the Marketing Strategy and Action Plan for Bulgarian Tourism prepared under the EU’s PHARE programme, which has started to encourage both private sector and public sector initiatives to build, restore, modernize and refurbish facilities and accommodation for tourists.

Indeed, as reported in March 2003 in The Times, Thomas Cook AG is creating a special fund amounting to Eur 100 million to be used for reconstruction and building of nearly 15 hotels in Bulgaria.

It is clear that whilst the country may not yet have the same ‘destination appeal’ as some of the better established destinations, its climate, varied scenery, rich cultural and historical heritage are all ingredients that will lead to positive changes, particularly as EU membership draws near. The comparatively lower cost of living is likely to remain a significant attraction to visitors and investors for years to come.

Information provided by the Embassy of the Republic of Bulgaria in the United Kingdom