The Bulgarian Minister of Tourism predicts that 2016 could be the most successful year for the tourism industry in the country. A record number of tourists visited the country during the first half of the year and, if the estimates are correct, the summer of 2016 could be the most successful in history for the Bulgarian tourist industry. Foreign investments in tourism are permitted and encouraged in Bulgaria and foreign entrepreneurs have contributed over the years to the overall development of the industry.
2016, a historically good year for tourism in Bulgaria
The most recent numbers released by the Bulgarian Ministry of Tourism show that the summer of 2016 has seen a record rise in the total number of tourists who chose to spend their vacation in the country.
A 20.6 percent growth was recorded in Bulgaria in July this year, according to the National Statistics Institute. The growth is nearly 17 percent larger compared to the number of tourists recorded during the same time in 2015. The Bulgarian Minister of Tourism stated that the first half of 2016 was the most profitable for the past ten years. If the numbers remain equally strong during August and September, then the summer of 2016 could be the most profitable for tourism in Bulgaria. Russian, German and Polish tourists made up for the largest percentage of foreign tourists in Bulgaria this year.
Bulgaria, a summer and winter destination alike
Bulgaria can be regarded as a “complete” tourist destination because the country is able to provide its tourists with holiday options for both the summer and the winter season. During the summer, Sunny Beach is one of the most popular, and the largest, tourist resorts along the Black Sea coast. Winter sports lovers come to Bulgaria during the colder months for accessible and modern ski slopes in mountain resorts like Bansko.
Investments in tourism in Bulgaria
can extend to more than accommodation and dining options. Investors can open restaurants, hotels or hostels but they ca also open a company in Bulgaria
that operates in the tourism sector and offers various touristic packages.
Travel companies in Bulgaria
need to meet a number of standards and, depending on the types of services they provide, obtain the necessary special permits and licenses
. Restaurant and hotel owners in Bulgaria also have to meet the current rules and regulations as well as pass the Commission for Consumer Protection inspections.
If you want to invest in tourism in Bulgaria or are interested in starting a business here please do not hesitate to contact our law firm in Bulgaria
for more details on the legislation for investments.