Opportunities For Divercified Offering In Bulgarian Tourism

Looking for opportunities to diversify the tourism product is one of the surefire ways to increase the efficiency of Bulgarian tourism. We live in a world of technology and technological thinking. In the context of dynamic market development and existing great competition, it also successfully serves as a risk management tool, avoiding concentrating on the production of a single product, service and / or offering it in only a limited market, such as tourism. With its clever implementation, diversification helps maintain the firm's stability even in times of crisis, since usually the economic downturn does not occur simultaneously in all sectors and in all markets. The tourism industry in Bulgaria is strongly linked to seasonality, which exacerbates one of the major problems facing the sector, namely the provision of year-round jobs. Diversifying the business can be one way to solve the problem of seasonally employed staff. Business diversification provides businesses with competitive advantages by creating conditions for reducing business risk. Therefore, it is an appropriate business development tool. However, in order to be successful it requires thorough knowledge and a serious preliminary analysis of the environment and the company itself.