Resicom – Holiday Investment – 04-21 – LB

Plodiv an Up and Coming Investment Hotpsot

A 5 per cent rise in tourist numbers is predicted for the summer season of 2018 in Bulgaria in comparison to 2017, with Plodiv cited as an up and coming location.

The number of tourists visiting Bulgaria was up by 11 per cent in the first quarter of 2018 compared to 2017’s figures.

A digital advertising campaign launched by the country’s Ministry for Tourism was aimed specifically at tourists from the Czech Republic, France, Germany, Israel, Poland and the US. These are the main markets that the Ministry expects tourism to be generated from, but British overseas property investors are also showing interest.

Over 5.3 million international visitors came to Bulgaria in the last year. There is also expected to be a rise in domestic tourism, with numbers standing at 1.6 million.
Plodiv being labelled one of two European Capitals of Culture for 2019 is likely to boost tourism significantly. Plodiv is one of the oldest continually inhabited towns in Europe, with this ancient appeal making it a strong tourist hotspot.It is expected that around two million visitors will arrive next year, with one million visitors already predicted to arrive this summer alone following the additional exposure.

The seaside town of Varna is also expected to perform well in the tourism stakes. Having been founded as a trading colony in 570 BC, Varna is now Bulgari’s third-largest city. Last year the town saw a 9.3 per cent increase in tourism revenue, following the 8.9 million international tourists who attended the destination in 2017.

Varna’s tourist information centre has stated that tourism accounts for 18 per cent to 20 per cent of the country’s GDP. This is largely centred around the Black Sea cost, where 70 per cent of available tourist accommodation is located. However, this is likely to change as the Ministry of Tourism intends to offer greater variety of seaside holidays and tour operators. This suggests that Bulgaria could be a prime location for overseas property investors.

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