Bulgaria Tourism Report 2015 - New Market Report

From: Fast Market Research, Inc.
Published: Tue Jan 13 2015

The Bulgarian tourism industry is set for growth, both in terms of inbound and outbound tourism, over the remainder of the current forecast period. Strong growth in arrivals in particul ar will drive growth in tourism -related receipts and an increase in the hotel industry value .

The surge in tourist numbers travelling to Bulgaria, growing at 4-5% annually from 2015-2018 is driven by increased economic stability in Europe, which provides the vast bulk of arrivals to the country. In addition, the diplomatic fallout from the Ukraine crisis will see more Russian and Ukrainian tourists depart to Bulgaria, despite the country's EU status. Key growth areas in Bulgaria's tourism offer include health tourism and the country's winter tourism sector, which the government is especially keen to promote in order to address the market's seasonality issues.

Full Report Details at
- http://www.fastmr.com/prod/924102_bulgaria_tourism_report_2015.aspx?afid=301

Outbound travel will also expand over the next four years, at a faster rate than inbound travel and outbound tourists will mainly visit neighbouring countries in Europe such as Romania, Turkey and Greece. Despite the growth in inbound and outbound travel we do not expect to see a substantial increase in new hotel openings over coming years. This is due in part to the low occupancy rates at present as well as persistent concerns around the country's bureaucracy and potential corruption issues.

Key BMI Forecasts include:

* We expect total arrivals to reach 9.94mn in 2015. Of this, the majority will come from Europe (9.03mn tourists).
* Outbound travel will reach 4.28mn departures in 2015.
* Tourism-related receipts are set to reach USD5.12bn in 2015.
* The hotel and restaurant industry value will remain stable at around USD1bn.
* The number of hotels will rise to 3,210 (an increase of less than 1% y-o-y).

The Bulgaria Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.

BMI's Bulgaria Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Bulgarian tourism industry.

Key Benefits

* Benchmark BMI's independent tourism industry forecasts for Bulgaria to test other views - a key input for successful budgetary and planning in the Bulgarian tourism market.
* Target business opportunities and risks in the Bulgarian tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Bulgaria.

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