The number of Bulgarians travelling abroad decreased again in August 2010, registering yet another month of decline, while simultaneously, the country was visited by an increasing number of foreign tourists, Bulgarian media said on September 27 2010. The trend has remained consistent throughout the summer months of 2010, as fewer Bulgarians travelled abroad in June and July but more foreigners visited in comparison to the  [ Read More ]

In spite of the global economic crunch, which severely affected the tourism industry worldwide, Sofia Airport recorded a record 341 635 passengers in August 2010, the airport has revealed. According to airport authorities, these are the highest passenger numbers ever recorded on a monthly basis, exceeding even the most successful year of the airport in 2008, the Focus news agency reported on September 27 2010, marking an increase of three  [ Read More ]

New home construction in Bulgaria shrank by more than one-third in the second quarter of the year compared to the same period of 2009, according to National Statistical Institute (NSI) preliminary data. A total of 576 residential buildings were launched between April and June, which is down 20 per cent from the year-ago figure. Newly-built homes there fell by 34.7 per cent to 4119. The largest number of residential buildings  [ Read More ]

Bulgaria’s property boom was always inextricably linked to tourism – the same factors that made it an attractive tourist destination were also responsible for the interest of foreign property buyers. That is, until the credit crunch wiped out access to easy credit and the oversupply of new developments, which combined to end the cycle of ever-growing property prices in 2008. The end result was thousands of investors who saw the  [ Read More ]