Bulgaria's Tourism Struggles to Diversify Beyond Traditional Offerings
Bulgaria continues to lag behind neighboring countries in achieving significant growth in its tourism sector
"Three or four difficult months are in store for the Bulgarian economy. Our major trading partners - Britain, Germany, France - are introducing severe ant-epidemic measures and this will affect all sectors of our economy. The difficulties of vaccination are mounting. Investments in Bulgaria last year shrank by 60%. There are no buffers left for the business," told BNR former Finance Minister Simeon Djankov.
In his words, the incumbent, but also the next government "needs to think not about the deficit, but where to invest more money so that most of the jobs can be kept intact."
"There is uncertainty about business... There will be much less investment around the world, especially in Eastern Europe."
In the "12+3" radio show Simeon Djankov added:
"In the world as a whole, more fiscal measures are needed. The next government willneed a budget update and it will be in the sectoral policies... In the next two or three years, I expect a change in tax policy and more and heavier taxes."
According to Djankov, Brexit will also have a significant impact on our economy. "I expect a surge wave of Bulgarians who will come back home from the UK," he forecast.
A recent survey by the Bulgarian Industrial Capital Association shows that many Bulgarian companies anticipate a decline in production due to the new tariffs on imports announced by U.S. President Donald Trump
Travelers planning a spring escape might want to consider Sofia
Over the past decade, residential property prices in Sofia, Bulgaria, have surged by 200%, rising from an average of €715 per square meter in 2015 to more than €2,100 at the beginning of 2025
Bulgaria has successfully met the price stability criterion required for entry into the eurozone
The national pavilion of Bulgaria has captured the attention of visitors to EXPO 2025 in Osaka
Bulgaria has taken a significant step toward exploring its deep-sea energy potential
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Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase