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Tourism in Bulgaria: Reasons for its Development and Opportunities for Creating Sustainability

Author

Listed:
  • Petar Penchev

    ("Angel Kanchev" University of Ruse)

  • Irena Kenarova-Pencheva

    ("Angel Kanchev" University of Ruse)

Abstract

Tourism is a driving force in Bulgarian economy. Its direct and indirect contribution to GDP is 13%. There are internal and external reasons for this. This paper is confined to investigating the internal stimulus, which has pushed the touristic sector to grow rapidly for the last 5 years. The low cost carriers contribute to the fact that more tourists visit Bulgaria and thus larger revenues come from the sector. The Bulgarian government has introduced new policies, which are aimed at overcoming the growing problems with the lack of educated and motivated personnel. An analysis of the external factors to the growth of the sector is excluded. Further, the paper explores some of the potentials of the sector, which are still underdeveloped. Finally, the paper gives insights into how to ensure sustainability of the touristic sector in future.

Suggested Citation

  • Petar Penchev & Irena Kenarova-Pencheva, 2018. "Tourism in Bulgaria: Reasons for its Development and Opportunities for Creating Sustainability," Regional Economy and Sustainable Development, Conference Proceedings 2017, Research Institute, University of Economics - Varna, issue 1, pages 528-537, March.
    • Handle: RePEc:vra:pr1803:y:2018:i:1:p:528-537
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    More about this item

    Keywords

    tourism; development; sustainability.;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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