Bulgaria's Tourism Minister Expects 4-5% Growth This Winter
Bulgaria's Tourism Minister Nikolina Angelkova told Dnevnik.bg that she expects a growth of 4-5% in the number of tourists this winter season.
The Bulgarian hotel owners are planning to set up their own bank as a way to escape the high interest rates at times of economic crisis.
The news was announced by the President of the Bulgarian Association of Hotel and Restaurant Owners, Blagoy Ragin.
The idea belongs to the hotel owner in the Black Sea beach resort “Golden Sands,” Georgi Shterev, and had received the support of over 100 counterparts from top Bulgarian tourist destinations such as “Golden Sands,” the other major beach resort “Sunny Beach,” the winter resorts of Bansko, Chepelare, Smolyan and Ribaritsa, the SPA centers of Velingrad, and Sandanski, the cities of Sofia, Veliko Tarnovo and Dobrich.
All hotel owners, who wish to become members of the new financial institution, will have to deposit BGN 50 000, so that with 200 of all 1 000 members of the Association, the bank can reach the minimum required capital of BGN 10 M, Ragin explains.
The plan is for the new bank to buy out the default loans and grant new ones with interest rate 2% lower than the commercial banks.
Ragin believes that those reluctant to join and transfer their credits are doomed to succumb to the crisis.
The hotel owners are further negotiating with the Bulgarian Construction Chamber, which also announced plans to establish their own financial institution.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022