Drop in German tourists visiting offset by growth in numbers, from other markets.
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The Bulgarian Tourism Sector Report offers an extensive summary of the Bulgarian tourism market. It includes a complete coverage of the latest developments as well as the latest corporate news accompanied by statistical data. This sector report is ideal to keep you abreast on recent company and industry news. Written by local analysts, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions. The report covers the period June 02 – September 01, 2006.
Tourism sector had a relatively good summer season in 2006. The National Tourism Board said that the number of foreign tourists increased by 8-10% y/y as compared to the previous summer. Although the official statistics for the whole season have not been released yet, the state tourism agency's figures for Jan-Jul show that the continuing decline in the number of German tourists has been offset by the growth on other markets.
In Jan-Jul, the total number of foreign tourists increased by 4.8% y/y to 2.85mn. The shrinking of the German market could be attributed to a combination of factors including the overdevelopment of the resorts and related noise and pollution,
bad infrastructure and quality of service, the slow economic recovery in Germany, as well as the world football championship, which has reduced the outbound German tourism last summer.
Highlights:
- Number of foreign tourists grows by 4.8% y/y in Jan-Jul
- Number of accommodation facilities rises by 74% y/y in H1
- Tourism revenues increase by 4.6% y/y to EUR 1.16bn in Jan-Jul
- Seaside resorts to invest more than EUR 70mn for 2007 season
- Smolyan city council approves EUR 270mn investment in ski tourism
- Rila Sport company to invest EUR 100mn in ski resort Panichishte
- Hotel projects worth more than EUR 45mn revealed for Bansko
- Northern town seeks investors in EUR 10mn spa project
- Two new four-star hotels opened in Sofia
To read the full report, please click here:
www.researchandmarkets.com/reports/c48258 
