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[March 24, 2014]
Market Research Report: Travel and Tourism in Bulgaria to 2017
(M2 PressWIRE Via Acquire Media NewsEdge) Dublin - Research and Markets (
) has announced the addition of the "Travel and Tourism in Bulgaria to 2017" report to their offering.
Growth in the Bulgarian travel and tourism sector slowed during the review period (2008-2012) driven by decline in domestic trips at a CAGR of -3.78%. However, growth in domestic trips was recorded in 2012 supported by the economic improvements in the country. The Bulgarian tourism sector is to record healthy growth over the forecast period (2013-2017), in line with growth in supporting industries. The government and tourism agencies have been making continuous efforts to increase tourism activity in the country.
Scope This report provides an extensive analysis related to the tourism demands and flows in Bulgaria: - It details historical values for the Bulgarian tourism sector for 2009-2013, along with forecast figures for 2014-2018 - It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009-2013 review period and the 2014-2018 forecast period - The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Bulgaria.
- It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009-2013 review period and the 2014-2018 forecast period.
Key Highlights - Despite the National Strategy for Tourism's (NST) attempts to reposition Bulgaria as a high-class tourist destination, it is still viewed by tourists as cheap'. The country's biggest advantage is that it is an all-year-round holiday destination, with both beaches and ski resorts. However, poor infrastructure, insufficient advertising and poor service means it is not reaching its full potential.
- Tourists from emerging markets such as Brazil and India increased during the review period; in 2012, 3,000 Indian tourists visited the country. The Embassy of the Republic of Bulgaria, in association with the Bulgarian Tourism Authority and National Tourist Board, started to promote the country's tourism offerings in India to encourage a further increase in tourist arrivals. With rapidly rising incomes in Russia allowing citizens to spend more on holidays, and Bulgaria's favorable visa policy, Russian tourists to Bulgaria increased from 201,124 in 2008 to 449,734 in 2012, at a review-period CAGR of 22.28%.
- The Bulgarian outbound market is very small, with only 758,296 trips made in 2012. In 2010, the number of outbound trips declined by 24.6%, primarily due to deteriorating economic conditions, rising unemployment and a decline in disposable income. Economic improvements led a return to growth at a rate of 16.7% in 2011, but the country slipped into recession again in 2012, resulting in a 2.3% decline in outbound tourism in the same year.
- The Ministry of Economy, Energy and Tourism aims to make Bulgaria more attractive to different tourists by developing health and wellness tourism, spa tourism, and meetings, incentives, conferencing and exhibitions (MICE) tourism through construction activities. According to the Bulgarian Union of Balneology and Spa Tourism, Bulgaria has over 100 spa and wellness centers; the industry is performing strongly due to rising demand for these services.
Companies Mentioned - Accor Hotels Bulgaria - Astral Holidays - Austrian Airlines Bulgaria - Avis Rent a Car Bulgaria - Best Western Hotels Bulgaria - Bulgaria Air - Europcar Bulgaria - FPI Hotels & Resorts - Grifid Hotels - Hertz Rent a Car Bulgaria - Hilton Hotels Bulgaria - Lufthansa Airlines Bulgaria - Magic Tours Ltd - Meli? Hotels Bulgaria - Riu Hotels & Resorts Bulgaria - S7 Airlines Bulgaria - Stars Travel Ltd - Valenta Plyus - Wizz Air Bulgaria For more information visit
About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: Research and Markets, Laura Wood, Senior Manager.
firstname.lastname@example.org Fax from USA: 646-607-1907 Fax from rest of the world: +353-1-481-1716 Sector: Travel and Tourism (
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