Foreign Interest Surges in Bulgarian Property Market, Especially in Resorts
Real estate agents have reported a surge in property purchases by foreigners in Bulgaria's resorts and major cities like Sofia, Plovdiv, Varna, and Burgas
The entry of Bulgaria and Romania into the Schengen area by air and sea is anticipated to have a significant impact on tourism, with experts predicting a substantial increase in visitor numbers. According to international publication "Euronews," experts estimate that tourism in both countries could surge by 15 to 25 percent following their integration into the Schengen zone.
Tourism analyst Michael Donovan highlighted the transformation in border crossing procedures over the past two decades, noting that previously complex processes had deterred some solo travelers. Donovan expressed optimism that the simplified border controls resulting from Schengen accession would attract more independent tourists, particularly younger Europeans, to explore Bulgaria and Romania.
Moreover, Donovan emphasized the potential for long-term benefits, suggesting that full integration into the Schengen area could elevate tourism standards in both countries, enhancing the overall visitor experience.
Ritesh Raj, a director at a booking platform, echoed Donovan's sentiments, anticipating a surge in demand for accommodations and local goods and services in response to increased tourism. Raj also highlighted the possibility of heightened interest in lesser-known destinations, which could lead to more balanced growth across various regions within Bulgaria and Romania.
However, Raj cautioned that the success of the tourism sector would hinge on local policies and infrastructure, emphasizing the need for concerted efforts to optimize the tourism potential of both countries.
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