News

The number of foreign tourists in Bulgaria has increased by almost 50 per cent in the past four years, and holiday makers only from European Union countries have risen by 90 per cent. This was announced yesterday by Prime Minister Simeon Saxe-Coburg, who launched the two-day 75th session of the executive committee of the World Tourism Organisation (WTO) in the Bulgarian Black Sea resort of Slunchv Bryag (Sunny Beach). The forum continues today.
Culture and Tourism Minister Nina Chilova, who heads the Bulgarian delegation to the forum, pointed out the dynamic development of seaside and skiing tourism in Bulgaria, which gave the European Commission grounds to describe Bulgaria as the new face on the global tourist market. Chilova cited WTO forecasts according to which in 2020 Bulgaria will be visited by 10 million tourists. This makes it one of the most promising tourist destinations.

The rapid pace, at which the prices of real estate in Bulgaria is going up, has been also spotted by the Wall Street Journal broadsheet newspaper, which ranked Bulgaria at the top of the world's standings against this index. There are quite substantial grounds to think that this tendency will go on over the next few years. Moreover, this tendency has a strong foundation, not influenced by the inflation rate, and namely the deliberate undervaluation of the real estates in Bulgaria, which has been accumulated for years now, and the artificial equalization of the prices, inevitable under the conditions of globalization.

This summer hundreds of thousands of British holidaymakers are moving east, shifting allegiance from the Mediterranean to the Black Sea.

Most are aiming for Bulgaria, where the number of British visitors increased by two-thirds last year. The increase of visitors to Bulgaria is causing alarm in Spain and Greece, both of which suffered a slump in UK package holidaymakers last year. The strength of the euro, and perceptions of price rises in member states, persuades bargain-hunting Britons to look further east.

Revenue from international tourism has increased by eight per cent between the beginning of the year and May, according to Ministry of Culture and Tourism data. A total of 1.29 million tourists visited the country during that period, a three per cent increase compared to last year. The largest numbers came from Greece, Macedonia, Turkey, the United Kingdom, and Germany. Most of the visits took place during winter. Statistics for May, on the other hand, will give an indication of foreign interest in Bulgarian sea resorts. Specialists noticed a sharp decline in tourist visits from Greece and Belgium. The decline varies between 10 and 15 per cent for each country. Specialists predict an annual increase between 10 and 12 per cent in foreign tourism.
This year, sea resorts are benefitting mainly from East European and EU countries' tourists. There are about 574 000 tourists from Western Europe. At the same time, 10 per cent more Bulgarians travelled abroad. The three most popular destinations were Turkey, Greece, and Serbia and Montenegro.

Bansko, the ski resort town located some 160 km south of Bulgaria's capital Sofia, will head into the 2005/2006 winter season with some 100 hotels, up from 40 the year before, said deputy mayor Lazar Zahov.

THE Wall Street Journal reported in June that the prices of real estate in Bulgaria jumped 48 per cent last year, a world record and the highest rise in prices registered in any country.
Even the most developed countries have seen drastic price increases in the last three or four years. Though surprising, the rises in Bulgaria were part of global trend.

Sozopol means town of salvation in ancient Greek and is one of the oldest settlements in Bulgaria. It was founded 2600 years ago by Greek migrants from Asia Minor. The seafarers saw the small peninsula with cozy bays and a string of small islands that looked like a paradise on earth. On the remnants of a Thracian settlement they founded a thriving city-state, and called it Apollonia after Apollo, the god of light, poetry, music and healing.
This is probably the reason why the place has always been a magnet for artistic and imaginative people. 

A response to Rosie Murray-West's article: Beware Cheap and Nasty Bulgarian Dream, published at Daily Telegraph on 26/03/2005

Rosie Murray-West might well have entitled her article in the Telegraph yesterday, “How Dare you Wealth [ier] Brits Take Advantage of Poor[er] Bulgarians”. The article takes exception to the large number of British planning to buy property in cheap Bulgaria, a country she claims potential buyers know little about … except of course that the property is cheap!

Interviews with Bulgarian Properties’ CEO MIHAIL CHOBANOV and Bulgarian Dreams’ Director ROBERT JENKINS

The current boom on the real estate market in Bulgaria calls for staging a business-oriented commercial event in order to bring forward the latest tendencies, present the most recent products and services, highlight best practices and discuss the key issues in the industry.
If you are building, selling, letting or renovating property for profit, Immobilia Bulgaria 2005 is a must attend event!