How can Bulgaria’s hotel sector rebound faster from the crisis?
Bulgaria did not manage to escape unscathed by the crisis on the global investment hotel market. The ongoing real estate crisis inevitably cast a shadow over the tourist market, which led to a glut of hotels for sale, particularly in the resorts along the Black Sea coast. Experts however say that supply considerably outweighs demand. To top it all off, over the last year there has been a drop in the number of tourists and the prices of hotel services. As I already mentioned investors are very much interested in hotels from the so-called economy/budget sector and this may be the key to the quicker rebound of Bulgaria’s hotel sector. Do you support the proposed amendments to the Law for encouraging investments, which will bring back bonuses for investors in hotels as the country is trying to stay competitive? Despite the difficulties, which hoteliers face, Bulgaria continues to be an attractive tourist destination. The availability of possibilities for the development of the tourism sect
