Veselin Danev, chairman of the Bulgarian Hotel Association, highlighted a major issue in Bulgaria’s tourism sector: a significant decline in the workforce. Employment has dropped by nearly 20%, with the most noticeable decrease among younger workers, particularly those under 34 years old, where the reduction exceeds 30%. Danev also pointed out that high taxes on…
Tourism in Bulgaria has made significant strides toward recovery in 2024, though it still hasn’t returned to pre-pandemic levels of 2019, according to Atanas Dimitrov, Deputy Chairman of the Bulgarian Hotel and Restaurant Association. He attributed challenges faced by the industry to factors like climate change and a lack of an effective marketing campaign by…
Bulgarian garment companies are struggling to find new markets due to the recent increase in tariffs on industrial goods under Donald Trump’s administration. Business owners are grappling with important questions: will Chinese imports shift towards Europe? Will local producers face a serious blow, leading to a market flooded with cheaper, lower-quality clothing? And could this…
The National Real Estate Association has raised concerns regarding the proposed Bill on Real Estate Brokers, submitted by MP Valeri Plamenov Lachovski and others. According to the association, the draft law fails to adequately define the responsibilities of real estate brokers during transactions. Real estate transactions involve a multifaceted process aimed at safeguarding the financial…
Macroeconomist Stoyan Panchev, an analyst from the Expert Club for Economics and Politics, warned that Bulgaria could face significant challenges if it rushed into joining the eurozone, particularly concerning the budget deficit. Speaking to Bulgarian National Radio (BNR), Panchev stated that while inflation might seem manageable, the real issue could arise from the deficit once…
Bulgarian Posts will carry out the exchange of levs into euros in 2,230 post office locations across the country, according to an official statement from the postal operator. The complete list of participating offices is now available on the company’s website. At these locations, individuals will be able to exchange lev banknotes and coins into…
Bulgaria has fulfilled the final requirement for joining the eurozone by meeting the budget deficit criterion. Following the earlier achievement of the inflation target, the last step was to confirm compliance with the EU methodology regarding public finances for 2024. According to preliminary data from Bulgaria’s National Statistical Institute and Eurostat, the country’s general government…