Foreign Trips to Bulgaria Up 2.4% in Nov 2011 Y/Y

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Bulgaria

Foreign visitors to Bulgaria up

In November 2011, the number of arrivals of foreign visitors to Bulgaria was 2.4% more than the number of these trips in the corresponding month of 2010.

The total number of foreign visits in November was 384 thousand, according to data of the National Statistics Institute.

The largest increase was registered in the number of visitors to Bulgaria with holiday and recreation purpose – by 6.2%.

In November 2011, the arrivals of visitors from EU Member States rose by 1.4% in comparison with the same month of 2010. The highest growth in the number of visits was observed from France and Italy – by 10.3% and 10.0% respectively. A decrease in the visits was registered from Lithuania – by 10.4%, Slovenia – by 5.5%, Malta – by 5.0%, etc.

Visits of foreigners from the group “Other European countries” increased by 1.3%. The largest growth in the number of arrivals of citizens was observed from Switzerland – by 18.0%, Ukraine – by 13.6%, and Russian Federation – by 9.8%.

In November 2011, visitors passing transit had the greatest share of the total number of foreigners who visited Bulgaria – 34.9%, followed by arrivals with holiday and recreation purpose – 33.2%, professional purpose – 17.1% and others – 14.8%.

The trips of Bulgarian residents

In November 2011, the number of the trips of Bulgarian residents abroad was 253.8 thousand, which was 1.1% more than the number of the trips in November 2010.

An increase in the total number of the trips was registered to: Luxembourg – by 9.1%, Slovenia – by 6.8%, Finland – by 4.5%, Cyprus – by 4.5%, Germany – by 4.3, Spain – by 4.2%, Hungary – by 3.3%, Greece – by 3.2%, and etc.

At the same time a decrease was observed to: Canada – by 29.5%, USA – by 29.0%, Portugal – by 28.7%, Lithuania – by 15.8/%, Switzerland – by 15.5%, Russian Federation – by 14.7%, and etc.

The highest share of the trips of Bulgarian citizens traveling abroad was of those with professional purpose – 49.6%, followed by other purposes (as guest, education, visiting cultural and sport events etc.) – 27.5% and with holiday and recreation – 22.9%.

Bulgaria Ups Flights from Black Sea to Moscow in 2012

Flights from Bulgaria‘s Black Sea airports of Varna and Burgas to the Russian capital Moscow are increasing next summer season.

The agreement was sealed by the Transport Ministries of Bulgaria and Russia.

Since the spring of 2010, there have been seven flights a week on the Varna-Moscow line, which were increased to 14 in the spring of 2011. At the beginning of summer season 2012, flights on each line will go up to 21 a week without restrictions in the number of seats offered per flight, informs Bulgaria‘s Transport Ministry.

According to the Bulgarian Transport Ministry, the increase of flights will lead to the increase of capacity of the Varna-Moscow and Burgas-Moscow lines and improve services for Russian tourists next summer.

The Transport Ministry of the Russian Federation has awarded its Bulgarian counterpart with the order Gold Chariot for strengthening partnership in aviation.

 

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EU Companies Flock To Bulgaria in 2011

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European business in Bulgaria

Romanian and Greek companies are moving in droves to Bulgaria lured by less red tape, cheaper labor, lower taxes, Cheaper Land  and  political and economic stability, Bulgarian reports  say.

“Entrepreneurs are shutting down their companies in Romania after deciding to move to neighboring countries or just change their tax registration, attracted by the better conditions in Bulgaria.

The transfer of Romanian small and medium-sized enterprises to Bulgaria, Hungary, Croatia and even Moldova is turning into a mass phenomenon,” writes the Romanian Evenimentul Ziley, citing representatives of local companies.
According to the article the recent increase of the value-added-tax from 19% to 24% in Romania just came to further deteriorate the business climate, already strained by unskilled labor force, high social securities, bureaucracy and heavy indirect taxes.
Data of Bulgaria’s National Revenues Agency confirms the reports.
“Thanks to its low taxes Bulgaria is attractive for both companies and citizens from other countries, especially its neighbors,” the agency spokesman Rossen Bachvarov commented.

Bulgaria Property Is cheapest in Europe

In Greece, the center-left government imposed the increase in VAT from 21% to 23% earlier this year, the second VAT increase this year, following a hike from 19% in March.

Taxes in Bulgaria

Bulgaria has the lowest personal and corporate income tax in the EU at 10%, which was introduced at the beginning of 2008, replacing the previous system, which combined several different tax rates – between 20 and 24%, depending on income.
Bulgaria also has the lowest social security rates, which coupled with a 10% flat rate, makes it very attractive for physical entities, employers and potential investors.
Bulgaria’s Prime Minister Boyko Borisov recently denied reports that a hike in tax rates may be looming after the government scrapped its plans for a VAT increase this year, which was hoped to plug a budget gap that has thwarted the new EU member’s euro efforts.

The taxes in Bulgaria for the 2011 year will still stay the lowest  in all Europe.

This is the last news from the budget for the next year in Bulgaria.

 


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Rockefeller Eyes Third Property Deal in Bulgaria

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BulgariaProperty investments in Bulgaria

Europa Capital, member of the US real estate company Rockefeller Group, announced it is holding talks for a new property acquisition in Bulgaria, its third in the Balkan country.

“We will have a new deal over the next three months. It will be in Sofia,” Chris Bennett, Director-Head of Acquisitions at Europa Capital Emerging fund said at the conference for properties BalREc 2011.

Bennett said the deal price will range between EUR 30-40 M, but refused to disclose the property sector the acquisition belongs to.

Europa capital at Bulgaria‘s market

Europa Capital entered Bulgaria‘s market at the beginning of the year by acquiring Retail Park Plovdiv, Plovdiv, from Landmark Property Management. The transaction volume for the investment was EUR 20 M.

The Mall of Sofia, Bulgaria

In August Europa completed the acquisition of Mall of Sofia, Sofia, Bulgaria, from GE Real Estate and Avestus Capital Partners. This was the fund’s second investment in the country.

The acquisition amounted to a transaction volume in excess of EUR 100 M and was financed by the existing lenders OTP Bank and DSK Bank. Mall of Sofia continued to be managed by Avestus Capital Partners with property management provided by MOS Management.

The real estate fund manager Europa Capital declared its interest in the Bulgarian market as early as in 2007, when it said it is looking at a commercial center in Bulgaria.

After the recession set in, the company was forced to postpone its plans, but in March last year announced its determination to make a comeback in Eastern Europe after an absence of more than two years.

 

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Bulgaria’s Industrial Production up by 1.5% September 2011 Y/Y

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Bulgaria

Data from Bulgaria‘s statistic

Preliminary data released Monday by the Bulgarian National Statistics Institute, NSI, showed that Bulgaria‘s seasonally adjusted Industrial Production Index was up by 1.0% in September 2011 as compared to August 2011.

In September 2011, Bulgaria‘s working day-adjusted Industrial Production Index rose by 1.5% year on year.

Industrial production index in Bulgaria

In September 2011 as compared to August 2011, the seasonally adjusted Industrial Production Index in Bulgaria‘s mining and quarrying industry increased by 10.2%. Manufacturing increased by 3.7%, while electricity, gas, steam and air conditioning supply decreased by 7.2%.

The most significant increases in manufacturing production were seen in the repair and installation of machinery and equipment – by 40.8%; and in the manufacture of fabricated metal products (except machinery and equipment) – by 14.7%.

On an annual basis, September 2011′s Industrial Production Index, calculated from working day adjusted data in the mining and quarrying industry grew by 7.7%. The index for manufacturing increased by 2.7%, while electricity, gas, steam and air conditioning supply saw a decrease by 5.1%

Increases were registered in the production of investment goods in Bulgaria by 14.1%, in the production of energy by 2.1% and in the production of intermediate goods by 0.4%.

Construction sector in Bulgaria

According to the preliminary data of the NSI, the September 2011 index of production in the construction sector, calculated on the base of seasonally adjusted data, was 0.7% below the level of the previous month.

In September 2011 working day adjusted data showed a decrease by 11.6% in Bulgaria‘s construction production compared to the same month of 2010

 

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Korean Firm Mulls Making Electric Cars in Bulgaria’s Varna

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Bulgaria

Electric cars in Bulgaria

A Korean company is considering investment opportunities for the production of electric cars in Bulgaria‘s Black Sea city of Varna, South Korea’s Ambassador Chun Bi-ho announced.

His Excellency was in Varna Wednesday together with representatives of the Korean Trade Investment Agency (KOTRA).

He explained, as cited by BNR, that the undisclosed Korean firm in question first intends to assemble electric cars in Varna, and would them potentially go for manufacturing their parts their as well.

Chun did not reveal more details about the potential investment in electric cars but announced that Korean firms are involved in talks for potential participation in the concessions of Port Varna, one of the two major Bulgarian Black Sea ports.

Bulgaria Redirects Trade with Greece to Eastern Markets

Bulgaria‘s trade with Greece is in decline due to the economic crisis, Bulgarian Finance Minister Simeon Djankov has told the German Handelsblatt.

Instead, Bulgaria has increased its trading activity with Russia and Ukraine, Djankov clarified.

“Currently, there are 2000 Greek companies that have moved their headquarters to Bulgaria due to the low taxes. Furthermore, as a result of the decrease of some of the Euro zone members’ ratings, retirement pension funds withdrew their investments from Greece, Portugal and Ireland and redirected them to other destinations, including Bulgaria,” Djankov also pointed out.

According to the Finance Minister, Bulgaria has already overcome the worst of the economic the crisis. “Our economy has already started growing and the tax revenues have increased,” he stated.

“However, we are now in a period of uncertainty, since 60% of our foreign trade is with the EU, half of which is with Germany – and since Germany registers a low economic growth, we are also affected. That is why we altered our initial forecast for a 4.1% economic growth in 2012 to 2.9%.” Djankov clarified.

The Bulgarian Finance Minister surprised Handelsblatt’s journalist by revealing that his country’s minimum monthly wage is a mere EUR 135.

“It used to be EUR 120,” he pointed out.

Bulgaria and a Euro zone

Djankov further stated that Bulgaria has covered the criteria for a Euro zone entry for a second year in a row. However, he added that his country should wait at least one more year in order to observe how the debt crises are developing.

 

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Bulgaria’s Budget Deficit Down 46% in Q1-Q3 2011

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Bulgaria

Bulgaria‘s deficit has declined by 46 %

Bulgaria‘s budget deficit has declined by 46% in the first three quarters of 2011 year-on-year, according to latest data of the Finance Ministry.

Thus, in January-September 2011 Bulgaria accrued a deficit of BGN 826 M compared with BGN 1.51 B (a decline of BGN 692 M) in the same period of 2010.

In the first three-quarters of the current year, Bulgaria‘s national budget has accrued a deficit of BGN 483 M, while Bulgaria’s EU transactions deficit (i.e. the country’s contribution to the EU budget minus the absorbed EU funds) amounts to BGN 387.7 M.

In September alone, Bulgaria‘s monthly budget deficit was BGN 94.9 M, which is an increase compared with the BGN 11 M of deficit in August as well as with the BGN 18.9 M surplus in September 2010.

Bulgaria‘s budget income

Bulgaria‘s state budget income as of September 30, 2011, amounted to BGN 18.35 B, or 70.0% of the annual projection, which is a 5.7% increase (BGN 997.7 M more) than the state income for the first nine months of 2010.

The Finance Ministry points out that the growth in state revenues is the result of higher income from indirect taxes, which grew by 12.7%, or BGN 865.1 M, compared with the same period of last year.

Bulgaria‘s tax revenues

Bulgaria‘s total tax revenues, including social security and insurance payments, in the first nine months of 2011 amounted to BGN 15.08 B, or 82.2% of the total state income under the so called Consolidated Fiscal Framework. This is 72.9% of the projection for 2011 compared with 70.6% of the projection reach at the end of September 2010.

Direct tax revenues in the first nine months of 2010 amounted to BGN 2.79 B or 73.6% of the projected sum for 2011.

Indirect tax revenues came at BGN 7.66 B, or 73.7% of the expected amount. VAT income reached BGN 4.70, or 72.6% of the projected sum for the year. Excise tax revenues amounted to BGN 2.85 B, or 75.1% of the projection for 2011. Customs duties have yielded BGN 95.1 M, or 95.1% of the planned earnings for the year. Income from other taxes, including property taxes, amounted to BGN 593.1 M, or 77.3% of the annual projection.

Social security and health insurance payments have reached BGN 4.03 B, or 70.2% of the 2011 projection.

Bulgaria‘s revenues from non-tax sources and foreign aid amounted in the first nine months of 2011 amounted to BGN 3.27 B, or 59.4% of the projected sum.

Bulgaria‘s state spending, including its contribution to the EU budget, reached BGN 19.18 B in January-September 2011, which is 68.1% of the annual projection.

Current non-interest spending came at BGN 16.29 B (72.5% of the projected spending), capital spending, including the net growth of the fiscal reserve, amounted to BGN 1.87 B (50.5% of the projected amount), and interest payments reached BGN 490 M, or 74.1% of the projection for the above-stated period.

As of September 30, Bulgaria‘s contribution to the EU budget for 2011 amounted to BGN 528.1 M, in accordance with Regulation 1150/2000 of the Council of the EU.

 

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Sofia, Bulgaria Grows Famous for Being Cheapest Tourist City in Europe

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SofiaSofia is cheapest tourist city in Europe

A US daily has reminded that Sofia ranks as Europe’s cheapest tourist city.

Newsday cites the BackPacker Index ranking of the PriceOfTravel online portal which lists average daily expenditure in 40 major European cities.

The survey takes into account accommodation, transportation, attraction, food and drinking costs.

The survey for Sofia, Bulgaria

In its presentation of Sofia for 2011, the online portal notes that Bulgaria’s capital is growing more popular each year “due to the low prices of almost everything.”

The trip advisor warns, however, that the remote location of the city may be a problem for most casual travelers.

According to calculations of the website, backpackers need around BGN 30 per day for their stay in Sofia, including BGN 14 in accommodation costs at a “cheap/good hostel”, BGN 10 for meals, “not including breakfast”, BGN 2 for transport and BGN 5 for extra costs.

Who follow Sofia

Second place in the Backpacker Index goes to Poland’s Krakow, followed by Romania’s Bucharest.

The ten final entries in the ranking include cities like Vienna, Rome, Venice, Brussels and Paris.

The online portal estimates Zurich as the costliest tourist destination, noting that it “is a serious business city, so most things are geared to those with lavish expense accounts, and backpackers are barely an afterthought.

According to the Backpacker Index for 2011, a casual traveler visiting Switzerland’s largest city will need around CHF 116 per day.

Comparing with Bulgaria, they will need 30 BGN per day in Sofia.

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Unlimited Hosting & Bulk Mailer $ 9.95 Monthly !! Incredible !! | GVO

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GVO

From Joel Therien. What’s the entire buzz about GVO?

GVO (Global Virtual Opportunities) formerly Kiosk is a company owned by Joel Therien who has a 12 year track of experience in the network marketing and internet marketing industries.

GVO has rapidly created a big buzz in the internet marketing and the MLM , Network marketing arenas due to the fact that it is the only company online that has the know-how and the expertise to join these two very important business models in a once in a lifetime opportunity.

What makes GVO such an incredible business opportunity?

The answer to this question is twofold:

First of all when you get your hosting package through GVO you will get several services like unlimited auto-responder system, complete video marketing system with easy video producer and video hosting, full audio and video conferencing system, downtime monitoring software, that not only are included but that will also mean significant savings compared to buying all these services separately.

Second, you will have the opportunity to participate in a MLM compensation plan that is much more than a simple affiliate program and makes it an entire business in itself, let me explain:

How do I get compensated?

To motivate you to promote the business, GVO pays you 50% commission on the first month of every person that is directly sponsored by you.

Then we have the 2 x 10 Binary Hybrid Matrix Plan that will pay you 5% per month of up to levels down making this a full matrix of 2,046 people and that alone will earn you $4,600.00 per month!

Wait! It gets even better because you will also get a 20% matching bonus on your personal referrals down to 10 levels.

Once you have a down-line of 14 people or more then you earn a new profit position in the matrix that you can also make money off of.

What guarantees that people will stay with GVO?

If you have been online for some time and you are serious about building an internet business, you know that in today’s market, these are tools that you or any internet marketer can’t afford not to have and that you will be using on a daily basis and that is the key that makes the compensation plan a very successful one.

With this business model you will build an organization of avid and constant users who will be using the services everyday to run their businesses and therefore will be happy to keep paying their monthly fee!

How do I join GVO?

At GVO we even give you the opportunity to try us and fall in love with our services before you commit to a longer stay.

Just pay $1.00 today and this will give you full access to all the services and features for a full 14 day trial period.

Hope your find everything you are looking for under one roof with unsurpassed quality, see you inside!     Joel Therien for GVO.

http://tinyurl.com/645cngt

<>joel therien

 

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Bulgaria’s Bansko Named World’s Best Value Ski Resort

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Bansko

Bansko the cheapest ski resort in the world

Bansko, Bulgaria‘s biggest ski resort, is the cheapest resort for British skiers in the world, according to new research by the Post Office.

While last year Bansko ranked second, preceded by Romania’s Poiana Brasov, now Bansko has emerged as the most attractive winter resort for Britons on a budget since prices have fallen by 5% in comparison with 2010.

Ski resort report 2011 for Bansko

The total cost for ski equipment, lift passes, ski tuition, drinks and an evening meal for two came in at £263 which was still £100 cheaper than at the runner-up resort of Arinsal in Andorra, whose prices have also fallen by 5%, according to the Ski Resort Report 2011, carried out by Post Office Travel Money in association with Crystal Ski.

In third place, making its first entry into the list, came Slovenia’s emerging resort Bohinj.

“Skiers on a budget have great value resorts to choose from if they head east to Bulgaria and Slovenia or west to Andorra. Italy is also looking good for those skiers who prefer skiing in one of the long-established favorites,” head of Post Office Travel Money, Sarah Munro, commented.

Bansko – the winter capital of the Balkans

Last year Bansko was named the winter capital on the Balkans at an international tourism exhibition in the Serbian town of Novi Sad.

Bansko is a little town bordering Pirin National Park, about 160 kilometers south of Bulgaria‘s capital Sofia, offers a stark but nice contrast between the cobbled streets and churches of the old town and hundreds of millions of euros poured into hotels, ski runs and bright blue gondola bubbles in its modern part.

Supervising all this is the roughly 2,800-meter Todorka peak.

The formerly off-the-beaten-path destination has recently gone mainstream, but it is very rarely that tourists see the vistas doom-sayers warn against – construction cranes and gaudy mutrobaroque hotels, favored by the nouveau riche and organized crime mobsters, known as mutri, with which they try to prove their wealth.

Tourists need to spend no more than 25 euros a night in those hotels, which exemplify Bansko‘s ambitions best – quite chic, but without the ridiculous attempts to be cosmopolitan often found at Bulgarian resorts.

The old town of Bansko, where the prices are lower even than the capital Sofia, is a collection of ski and souvenir shops with cozy, dimly lit taverns and restaurants. It is not unusual to see an entire lamb or pig roasting on a spit in front of one of the eateries.

The alternatives are the pubs in Bansko, frequented by British, Irish and Greek tourists, who, together with the Russians, have until recently been the driving force of Bansko‘s prosperity.

Critics say Bansko was built to meet the standards of not that wealthy tourists, who do not bring lots of money to the country. As the global crisis bit, however, the number of these tourists, who out of fears for their jobs, decided to skip the holidays altogether, drastically decreased.

The long-term attraction will be limited, unless what is on offer complies with the highest standards, say the critics of Bansko.

 

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Conservative Leader Pulls ahead in Bulgarian Presidential Ballot | Bulgaria

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BulgariaBulgarian President Elections

A Bulgaria‘s center-right candidate won the first round last night of a Bulgarian presidential election.

Rosen Plevneliev, the ruling conservative GERB party’s candidate, was set to oust a Socialist incumbent, Georgi Parvanov after the first round. Mr Pleveneliev secured 40 per cent of the vote in the first round but needs more than 50 per cent to win outright.

Mr Pevneliev, left, has vowed to crack down on endemic problems of organized crime and corruption. He has also said he will improve transparency in the public sector of Bulgaria.

9 Bulgarian Cities Elect Mayors at 1st Round

Bulgaria‘s ruling, center-right Citizens for European Development of Bulgaria, GERB, party has collected the most votes in Sunday’s local elections according to exit polls and the first results from the Central Electoral Commission’s, CEC, ballot counting.

GERB have received 38% of the local vote, followed by the opposition left-wing Bulgarian Socialist Party, BSP, with 24% and the ethnic Turkish party Movement for Rights and Freedoms, DPS, with 6.7%

GERB had won the mayoral seats at first round in four regional centers – Bulgaria‘s capital Sofia, and the cities of Burgas, Gabrovo and Dobrich, BSP has a mayor in Shumen, the nationalist VMRO NIE – in Montana, DPS – in Kardzhali while independent candidates will become mayors of the cities of Pazardzhik and Kyustendil.

In Sofia, Yordanka Fandakova from GERB, was reelected as mayor with 51.5% of the votes against 22.2% for the BSP nomination, Georgi Kadiev.

In the Bulgarian Black Sea city of Burgas, current GERB Mayor, Dimitar Nikolov, scored an overwhelming victory at first round with 70% of the vote against 11% of the runner up – Valeri Simeonov, nominated by the newborn far-right, nationalist Party National Front for Saving Bulgaria, and owner of Scat TV.

In the second largest Bulgarian city of Plovdiv, the current Mayor from the nationalist VMRO NIE party, Slavcho Atanasov, with 26.8%, is going to a runoff against the GERB candidate and current Regional Governor, Ivan Totev, with 32.5%.

In the Bulgarian Black Sea capital of Varna the current Mayor, who was previously endorsed by BSP, and now by GERB, Kiril Yordanov, with 28.7% will face businessman, owner of pharmacies chain, and independent candidate, Veselin Mareshki.

This is the exit poll of the elections in Bulgaria.

 

 

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