Oxford Business Group: 14% of Bulgaria's GDP Comes from Tourism

Bulgaria's tourism industry provides 14% of the country's GDP according to a report of the Oxford Business Group based on 2007 data.

The publication points out the tourism sector continues to play a very important role in the country's economy by creating new jobs and securing for a steady inflow of foreign tourists.

During the first eight months of 2007 Bulgaria generated an income of USD 1,83 B, which is a 14,3%-increase compared to the same period of 2006.

According to the report, Bulgaria's tourism industry is developing at a consistent rate unlike other neighboring states, even though it has problems with the outdated transport infrastructure, and the overdevelopment of some resorts.

One of the country's main advantages as a tourist destination is the fact that it can attract foreign tourists during both the summer and the winter seasons, at affordable costs for foreign citizens.

The development of the sector is set to continue through a number of projects - the construction of a five-star hotel complex close to Burgas for EUR 12 M, and investments for EUR 35,7 M in the oldest and most famous ski resort in the country Borovetz.

novinite.com