Bulgaria – Tourism & Economic Growth

One of the constantly emphasized by economic specialists advantages of Bulgaria on a world scale is the development of tourism. Bulgarian resorts (sea and mountain) are very popular among people all over the world. So are the different local forms of spa and rural tourism, available thanks to the variety of mineral resources and impressive natural environment.

But is tourism really capable of becoming an engine of economic growth?

Undoubtedly, tourism does not produce practical added value although it increases the gross domestic product by being a generator of services. However, hardly could it be a basis of a remarkable economic growth if the country counts only on the income from this sector. That is why tourism should be an addition to a relatively strong economy that relies on manufacture, export, agriculture, machinery, etc.

Bulgarian politicians and economists seem to be realizing this fact emphasizing in the last few years (especially after the decline in the resort construction sector) that tourism income is really important but shouldn’t be considered a key factor in the economic sector.

As if freed of high expectations, tourism in Bulgaria has been achieving more and more impressive results recently. For instance, hotels income in Bulgaria for April 2014 increased by 20.80 % compared to the same period of the previous year. Following the more and more apparent lack of workers in the seasonal sea and mountain resorts, Bulgarian government took serious measures to provide the necessary labor force and handle the so called “youth unemployment”. According to the officially announced figures tourism will need a great number of seasonal workers, while students and unemployed people in this sector will have the opportunity to take vantage of this obtaining the necessary for every job practical experience.

Tourism in Bulgaria seems able to provide solutions (although temporary) to many burning issues, mostly affecting ordinary people and small & medium-sized businesses. Its positive impact on the country’s economy should not be disregarded either. Tourism can certainly stimulate economies, especially those that are in a stage of fragile recovery. Beyond doubt, this sector has a key role in the achievement of impressive economic results in Bulgaria during the market economy transition period and will continue contributing to the positive future development of the country.

June 15th, 2014 Posted by RPNAdmin Filed in: Other