80% of Bulgaria's Small Hotels Set for Bankruptcy
80% of Bulgaria's small and medium-sized tourism firms are on the verge of bankruptcy, according to Tzvetan Tonchev from the Bulgarian Tourism Chamber.
"Tourists won't pay for resorts where a person gets about 20 square cm of the beach, and the staff is not nice, and gets replaced each year. People prefer to stay at hotels where they've known even the maid and the administrator for the last five years", Tonchev said at a tourism forum.
In his words, Bulgaria will see a 30% drop in the number of foreign tourists over the summer.
According to Rumen Draganov from the Institute for Tourism Analyses and Estimates, the decline in the number of foreign visitors will be only 5% but the total revenue from foreign tourists in the budget will be EUR 1,9 B compared to EUR 2,4 B in 2008.
Draganov believes, however, that the tourism sector will get more revenue from Bulgarian tourists bringing the total tourism revenue to EUR 4 B.
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