Minister Angelkova: Beds in the 4- and 5-star hotels in our country have increased by 24% during the 2014-2017 period

07 June 2018

The Minister opened the third international Hotel&Tourism Investment Forum

An ever growing number of tourists in Bulgaria are opting for accommodation facilities offering high-grade services. In 2017 those spending nights in 4- and 5-star facilities exceeded 3.7 mil., 32 per cent more compared to 2014. Such growth also took place in the overnight stays during that period, with the 2017 revenues from them exceeding BGN 919 mil. – a nearly 49% growth compared to 2014. This was stated by the Minister of Tourism, Nikolina Angelkova, during the opening of the third international Hotel&Tourism Investment Forum. She emphasized that it is especially important for the tourism administration to operate in direct communication with the industry organizations and the large-scale international tour operators, who are also among the leading investors in the sector – such as Hyatt, Marriot, Review Pro, Avvio, Choice Hotels, Louvre Hotels, IDeaS a SAS Company, STR, etc., who took part in the forum.

Bulgaria is interesting not only for its nature and culture, but also for a place to do business, our legislation providing for a number of tax reliefs to such end and incentives for sizable investments, emphasized Minister Angelkova. She recalled the record-breaking results in the sector as evidence of sustainability. In 2017 Bulgaria was visited by nearly 8.9 mil. international tourists, which is a lot more than its own populace and an over 7% growth compared to the hitherto record-breaking 2016. We registered a very good start in 2018 and are expecting an at least 5% growth in tourists compared to the previous year’s records, she said further.

Minister Angelkova announced that beds in 4- and 5-star accommodation facilities have increased during the 2014-2017 from almost 121 000 to some 150 000, a 24% growth. Deluxe hotels were 369 in 2014 and in 2017 their number already stood at 418. These are venues and beds, which run out fastest during bookings, while summer 2019 is already getting booked now. As a share in the total number, the 4- and 5-star hotels take up some 43 per cent of the beds in facilities with 10+ beds in our country, the trend being a sustainably upwards one, the minister added.

Nikolina Angelkova provided specific examples of how Bulgaria is becoming an increasingly recognizable destination. During the meeting of the G20 ministers responsible for tourism in Argentina’s capital I had the honour of holding numerous conversations, where we discussed many options to promote investment. I welcome the interest of chains such as Marriot, Hyatt, etc. to invest in the Bulgarian Black Sea coast, she stated, reminding of the government’s policy to reduce the administrative burden.

Amendments to the Tourism Act have removed 19 types of documents in the area of tourism, which up to now had to be submitted in hard cover. A unit was established at the Ministry of Tourism, which focuses on the measures intended to attract more investment, together with the Ministry of the Economy and its agencies.

To facilitate entrepreneurial interest in tourism our ministry created, in partnership with municipalities, a Map of Tourism Investment Projects in Bulgaria. It comprises over 30 locations that we are presenting to international investors, at international expositions and tourism forums, clarified Minister Angelkova. The map is an open initiative and interest in it is significant. The Ministry is already preparing part two, with updates and more specifics regarding the investment intentions aimed at attracting entrepreneurs.

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