Why invest in Bulgaria?
The appeal of Bulgaria is obvious – glorious beaches, snowy mountains and stunning countryside, not too far from the UK with more and more flights being introduced and a wealth of culture and history to enjoy.
The tourist industry is booming and Bulgaria’s Black Sea Coast and mountain ski resorts are popular options for both holidaymakers and investors.
- Knight Frank’s Global House Price Index for the Second Quarter of 2006 showed phenomenal growth in Bulgaria of 20.5%. (The index relies on an official national statistical source or a well respected national financial institution, usually a large mortgage provider.). The property market in Bulgaria has performed well with prices rising rapidly due to wage inflation, growing prosperity and access to less constrained mortgage finance. There has been a classic combination of catch-up, speculation, second home interest and slow but sustained economic growth underpinning prices.
- 1.5 million tourists in summer 2006. Income from visits by foreign tourists for the summer season was about 600 M Euros. Bulgaria has scored an 8.3% increase of the number of foreign tourist and a 4.6% growth of income from tourism for 2006.
- The forecasts published by online travel company, Opodo, suggest that Bulgaria will be the top emerging destination for 2007. According to Neil Mott, Opodo's UK country manager, 2006 has seen a strong rise in travel to Eastern European countries since whilst being accessible; they still hold a certain "mystique" for the traveler. "Bookings to Bulgaria have risen by 40% in the last six months and with joining the EU in January 2007, we expect to see a significant increase in the number of tourists heading there to take advantage of the Euro," Mott added.
- The European Biathlon Ski Championship will take place in Bansko in February 2007.
- For the first quarter of 2006 foreign investment in Bulgaria reached 775 million Euros or twice higher than the sum for the same period the previous year. Bulgaria was also included for the first time in the economic competitiveness list IMD World Competitiveness Yearbook 2006. The country ranks 47th among 61 economies evaluated. According to the analysis some of the advantages Bulgaria has to offer include high economic growth rate, low taxes, budget surplus and stable macroeconomic environment. (Organisation for European Cooperation and Development).
- Becoming a full member of the EU in January 2007
Brazil (Bahia)
Cape Verde
Northern Cyprus
Germany (Berlin)
Montenegro
UK
