26.08.2008

Tourist Industry Generates 14% of Bulgaria's GDP


According to a report of the Oxford Business Group, the tourist industry provides 14% of the country's Gross domestic product (GDP).

The report is based on  data from 2007, showing that during the first eight months of 2007 Bulgaria generated an income of 1,83 billion US dollars, which is a 14,3%-increase compared to the same period of 2006.

According to the report, despite problems such as outdated transport infrastructure and overdevelopment of some resorts, Bulgaria's tourist industry is developing at a consistent rate unlike other neighboring states.

One of the country's main advantages as a tourist destination is the fact that it offers foreign visitors both summer and winter attractions at affordable prices.

The further shows that by creating new jobs and providing a steady inflow of foreign tourists the tourism sector continues to play an important role in the country's economy.

The sector’s development was going to further expand due to a number of significant projects such as the construction of a five-star hotel complex the vicinity of Bourgas for 12 million euro, and investments for 35,7 million euro in the oldest and best known Bulgarian ski resort Borovets.


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