About Bulgaria

• Basic Information
  • General information
  • Embassies and Consulates
  • Natural Environment
  • Tourism
  • Tourism Development
  • Trivia
• History
• Economy
  • Economy development
  • Current Economic Situation
  • Industry
  • Agriculture
  • Labor market and pays
  • The Budget
  • Banks, Insurance, Stock exchange
  • Taxes
  • Investments
  • Macroeconomic Data
  • Structure of foreign investments
  • Largest foreign investors
• Regions
  • Aheloy
  • Ahtopol
  • Albena
  • Balchik
  • Bansko
  • Borovets
  • Burgas
  • Byala
  • Carevo
  • Chernomorets
  • Elenite
  • Kavarna
  • Kitten
  • Kranevo
  • Lozenets
  • Nessebar
  • Obzor
  • Pamporovo
  • Plovdiv
  • Pomorie
  • Primorsko
  • Ravda
  • Sinemorets
  • Sofia
  • Sozopol
  • Sunny Beach
  • Sveti Vlas
  • Varna
  • Golden Sands
• Tourist attractions
  • Summer
  • Winter
  • Any Time Of Year
• Photo and video gallery
  • Photo Gallery
  • Film Gallery
• Weather
• Airports and transport
  • How to get to Bulgaria
  • Transport in Bulgaria
• Bulgarian Cuisine
• Wine
  • History of Wine
  • Varietes of grapes and wine
  • Regions of grape growing
  • Bulgarian wine labels – the meanings of signatures
  • Wine Production
• The Monetary System
  • The Bulgarian Currency
  • Ways of Payment
  • Banknotes and Coins
  • Duty and Duty Free
  • Banks and Money Exchange

There are many advantages of investing in Bulgaria. These advantages include political and macroeconomic stability, and the EU membership. Joining NATO in 2003 is an important event for the international political stability of Bulgaria.
 
The geographical location of the country facilitates the access to the markets of the former Union of Soviet Socialist Republics, Asia and Northern Africa. Bulgaria has already guaranteed a free or easy access of its products to the markets of over half a billion consumers with multilateral and bilateral international tractates.
 
The availability of well-educated and qualified labor force is another feature that favors foreign investing. The costs of the Bulgarian labor force are significantly lower than in other European countries, including the countries of Central and Eastern Europe.
 
The tax system is also competitive with its income tax on judicial persons and VAT tax rates, which are the lowest in Central and Eastern Europe. The regulations related to foreign investments guarantee a global treatment of foreign investors and wide institutional support.

HOT INVESTMENT BRANCHES
 
Tourism -  is the leading branch of the Bulgarian industry. It is considered the number one export branch in relation to profits and employment [over 400.000 jobs in this sector]. Tourism directly employs 170.000 people. Income from tourism amounted to 12.5% of the NGP in 2005.According to estimated data, the profits from tourism in 2005 [not including the transport] amounted to about 1888.2 million EURO.   In 2008 Bulgaria was visited by 10,4% more foreigners than in the same period in 2007. Revenues from tourism in 2008 from tourism was 2 533 million EUR which represents 10.8% more than in 2007. Bulgaria is the most visited in 2008 by citizens of Romania, Greece and Germany. On the 50 countries presented by the Bulgarian Agency for Tourism Poland took 9 place.

 

The investments in the Bulgarian tourism amounted to over 650 million USD in 2005. These included the investments of global corporations such as TUI, Thomas Cook, All Tours, etc. Chains of elegant and modern hotels are built as a result of these investments. New hotels were erected on the coast, even outside the renowned resorts. These include 5-star all inclusive hotels and small family B&B hotels. Over 100 million EURO have already been invested in ski resorts. New projects of total value over 500 million EURO have been executed. Golf courses are built in Bulgaria, in the areas of Balchik and Bansko.

Table. Top 20 countries - number of tourists coming to Bulgaria.

Source: The Bulgarian Tourism Agency, 09.06.2009r

Large hotel complexes with magnificent gardens, swimming pools and beaches are erected both in traditional resort style and super-modern SPA centers. Small airports are built all over the country – near Albena, Primorsk and Lesnov. The airport base will be used for tourist flights and as an attraction. The construction of a dolphinarium in Nessebar consumes millions of EURO. The tourists will have the opportunity to admire seals and penguins all year round. There are many investments in Sozopol, Czernomorets, Carevo [TUI] and Obzoza [RIU]. Many foreigners search for summer houses. They find the best quality for the money they have invested. The living costs and real estate prices are low. There is still a chance to invest in Bulgaria – the Bulgarian real estate market has the best offers of the last few years.

 In general, the Bulgarian tourist industry has a great potential of successful direct foreign investing. It results from: 

• The well-developed trips from Western Europe and eastern side of the Mediterranean Sea
• The potential of creating new tourist centers
• The potential of building theme parks and sports and recreation centers by holiday centers 
•  Fields for building new golf courses
• Possibilities of market development
• Competent and experienced local business partners
• Competitive real estate prices and labor costs

It is worth mentioning that all branches mentioned above are characteristic of high records when it comes to local experience and know-how, the potential of improving efficiency and lowering the costs, availability of qualified labor force and export experience and tradition.

Bulgaria is slowly recovering its high position in the ratings of tourist trips.