Bulgaria and Turkey stand out with the lowest average annual net incomes in Europe, amounting to 9,355 euros and 8,968 euros respectively, according to data from Eurostat. This stark contrast underscores the significant wage disparities across the continent, influencing employment dynamics and economic decisions. Northern and Western European nations typically boast the highest average net…
There are currently 380 companies operating in the Bulgarian automotive industry, with the sector employing more than 80,000 people and accounting for over 10% of the country’s gross domestic product, Automotive Cluster Bulgaria (ACB) has said in a press release. Parts and components made in Bulgaria have been used in between 80% and 90% of…
Bulgargaz, Bulgaria’s state gas supplier, has initiated legal proceedings against Gazprom, the Russian energy monopoly, seeking 400 million euros in compensation for damages caused by the unilateral suspension of natural gas supplies over two years ago, as of the end of April 2022. The arbitration claim was lodged recently at the International Chamber of Commerce’s…
Sofia is set to increase its tourist tax. The proposal emerged from the recent meeting of the Advisory Council on Tourism in the capital, marking the first adjustment in several years. Currently modest compared to other European cities, Sofia’s tourist tax has remained largely unchanged. Unlike practices abroad where tourists pay this tax separately upon…
The holiday property market along Bulgaria’s Black Sea coast is experiencing a shift away from its previous dominance by Russian buyers, now attracting a blend of younger Bulgarian professionals and retired Europeans. According to a comprehensive report by BTA, half of the buyers for seaside apartments are Bulgarians under 30, primarily from the IT sector,…
Holiday rental search engine Holidu has compiled a list ranking European cities based on their affordability for food and drink enthusiasts. Using cost-of-living data from Numbeo, Holidu has categorized cities by the average cost of items such as a bottle of wine and a mid-range meal for two, offering a comprehensive guide for foodies of…
In Bulgaria, residential property prices are on the rise, with Varna leading the charge ahead of even Sofia, according to recent statistics reported by Nova TV. During the first quarter of this year, Varna saw a significant increase of 9% in housing prices, slightly outpacing the growth in the capital city. Despite these hikes, there…