News

Font size: A A A

Tourism provides 14% of the Gross Domestic Product of Bulgaria

Thursday, Aug 28, 2008

The touristic industry in Bulgaria provides 14% of the GBP of the country. In 2007 the branch has ensured 371000 working places. The analysis of the authoritative publishing company Oxford Business Group shows.
According to the publication in 2008 the touristic sector continues to play an important role in the development of the Bulgarian economy, by creating new working places and ensuring permanent stream of foreign tourists in the country.
Only during the first 8 months of 2008 the tourism generated 1.83 milliard dollars turnover, which is an increase of 14.3% comparing to the same period of the past year.
In comparison with the neighboring countries, the touristic branch in Bulgaria is developing with stable paces and despite the problems with the old road infrastructure and the overbuilding of some areas, it is observed a steady investment flux in the places for accommodation, relaxation and entertainment in the past few years.
One of the main advantages of Bulgaria as a touristic destination is the fact that it attracts the tourists in two different seasons – during the summer on the beaches of the Black Sea coast and during the winter in the ski resorts, as both ways for relaxation offer excellent quality at affordable prices, especially for foreigners.
The development of the branch continues also with a number of projects, which are in process of realization, including a plan for the construction of a 5 star complex near the city of Burgas at the value of 12 million euro, which will have the capacity to meet 7000 tourist per year.
An investment for 35.7 million euro will be made in the oldest and popular ski resort of Bulgaria, in Rila Mountain – Borovets.

Source: Oxford Business Group