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Bulgarian Tourism Report
Emerging Markets Direct, Dec 2006, Pages: 20
The Bulgarian Tourism Sector Report offers an extensive summary of the Bulgarian tourism market. The report includes a complete coverage of the latest developments as well as the latest corporate news accompanied by statistical data. This sector report is ideal to keep you abreast on recent company and industry news. Written by local analysts, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions. The report covers the period September – December 2006.
The number of foreign tourists increased by 5% y/y to 4.6mn in Jan-Oct, the tourism agency reported. In October alone, the number of foreign tourists remained almost unchanged y/y despite the hope of the sector that the relatively warm weather this year would help improve the results. The biggest markets remained more or less unchanged but the decline on the biggest of them, Germany, continued and even worsened - the number of visitors from this country declined by 9.7% y/y against a drop of 2.8% a year ago. The fall has been attributed to over-construction, poor infrastructure and disproportionate quality and price of services.
Highlights:
- Number of foreign tourists increases by 5% y/y in Jan-Oct
- Revenues from tourism grow by 4.5% y/y to EUR 1.8bn in Jan-Sep
- Number of accommodation facilities increases by 87.2% y/y at end-September
- Investments in hotels and restaurants reached EUR 303.8mn in Jan-Sep
- Companies to invest over EUR 105mn in power, water and transport infrastructure
- Razlog municipality expects EUR 1bn investments this and next year
- Investors reveal three new ski complex projects worth over EUR 250mn
- Irish company to invest in EUR 150mn hotel and trade complex near Razlog
- Hotels in Sofia increase by 44.4% y/y in H1
- Terra Tour Service to build EUR 40mn golf complex
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