Minister Angelkova to Cathy Fallon: Bulgaria is an excellent place to invest in tourism

18 April 2018

Bulgaria has a huge potential to develop various types of mass and niche tourism, offering excellent conditions to invest in the sector. This is evidenced by the 25%+ growth of international tourists reported over the last two years. This was stated by the Minister of Tourism, Nikolina Angelkova, during a work meeting with Cathy Fallon, Senior Corporate Affairs Manager at Hilton. The meeting took place in the Argentine capital Buenos Aires, during the summit meeting of the World Travel and Tourism Council (WTTC).

The Bulgarian government upgraded tourism to a national priority, placing significant focus on the development of tourism infrastructure, she emphasized. Our country is becoming an increasingly attractive tourism investment location due to the country’s financial stability and legislation, which is supportive of large-scale investors. Bulgaria’s advantages also include a 10% corporate tax rate and a 10% income tax, political stability, GDP growth of 3.4% in 2016 (fifth highest in EU) and the second lowest government debt-to-GDP proportion within the Union. A trend of growing demand for high-category hotels is registered in the country, indicating a growing number of high-end tourists. 90 per cent of the 4- and 5-star hotels have already been booked for summer 2018.

We are expecting Hilton to expand its investments in Bulgaria, which would have a beneficial effect on the overall development of tourism in our country, indicated Minister Angelkova.

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