Bulgaria's Hotel Sector Faces Workforce Shortages and High Taxes Ahead of 2025 Season
Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce
The Central Universal Store (CUS/ЦУМ) building in Sofia is set for a major transformation in two phases, with the first phase expected to be completed by April 2025 and the second by 2027, reports BNR. Ahmed Nasser, founder and director of the company overseeing the project, announced that the aim is to restore the building's functionality and establish it as a modern icon of Sofia, blending utility and excellent location.
The renovation plan includes significant interior upgrades. On the first floor, there will be three main areas: two exhibition halls dedicated to Bulgarian and Egyptian history, and a museum featuring a rose oil workshop. The upper floors are slated to house a shopping area, restaurants, a spa center, and a five-star hotel spread over two levels. Additionally, the building will feature a convention area, co-working spaces, a business center, an accelerator, and dedicated space for scientific research.
Nasser emphasized that the investment is designed to enhance not only the hospitality and wellness sectors but also to foster business meetings, the IT industry, and scientific endeavors. The redevelopment is envisioned as a commercial and tourist hub that will promote Bulgaria as a prime destination, with a focus on year-round health tourism.
A comprehensive presentation of the CUS transformation project will be held on September 19 at the Bulgarian Chamber of Commerce and Industry.
The International Monetary Fund (IMF) has revised its forecast for Bulgaria’s economic growth, predicting a slowdown to 2.5% in 2025
According to Georgi Duchev, executive director of the Bulgarian Association of Hotel Management Professionals, one-third of Bulgarian hoteliers are planning a modest price increase of about 10%
Sofia Municipality is set to implement a revised framework for managing its municipal housing stock by introducing two distinct rental categories
Following its earlier confirmation of Bulgaria's credit rating at Baa1, Moody's has revised the outlook for the country's banking sector from stable to positive
Bulgarian garment companies are struggling to find new markets due to the recent increase in tariffs on industrial goods under Donald Trump’s administration
Tourism in Bulgaria has made significant strides toward recovery in 2024, though it still hasn't returned to pre-pandemic levels of 2019
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase