Investments in Tourism in Bulgaria Amounting BGN 200 Million

Written by: Editor

Bulgaria’s Regional Development Ministry aims to boost the development of tourist attractions in the country through an infusion of capital of approximately 200 million BGN (more than 100 million EUR). The capital increase is a part of the Regions in Growth operational programme, set to unfold through 2014-2020. Our lawyers in Bulgaria talk about the investment opportunities in an improved tourism sector.

A boost for Bulgarian tourist destinations

An operational programme in Bulgaria aims to develop the attractiveness of key tourist destinations in the country. Through the Regions in Growth 2014-2020 programme, the Ministry of Culture, municipalities and various religious institutions would benefit from a capital infusion of approximately 200 million BGN. 
The projects for tourism development under this programme would improve the overall touristic attractiveness of various locations throughout the country. In turn, this could be beneficial for investments in tourism in Bulgaria, such as investments in the HORECA (hospitality) industry. The projects that will run as candidates have to be integrated ones and must strive to promote and conserve cultural and religious heritage deemed to be of national and global importance. 
Examples of World Heritage Sites in Bulgaria include Boyana Church and several other churches, the Thracian Tomb of Kazanlak and that of Sveshtari, the Ancient City of Nessebar, the Pirin Natural Park, and two other natural sites. Bulgaria has other properties on the UNESCO World Heritage Site Tentative List, with important potential for touristic development.

Tourism in Bulgaria

Tourism in Bulgaria is a significant contributor to the country’s economy. With a rich cultural heritage and attractive locations both in terms of seaside resorts and mountain and ski resorts, the country has important potential for tourism development and investment.
Strategic investments in key cultural and heritage sites could promote various regions in the country and promote their touristic attractiveness.
Investors who wish to know more about the different opportunities for investment in tourism in Bulgaria, as well as the rules and regulations for investors, can contact the experts at our law firm in Bulgaria.