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TOURISM INDUSTRY AND ECONOMIC DEVELOPMENT IN BULGARIA

Desislava Stoilova ()
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Desislava Stoilova: Southwest University“Neofit Rilski”

Romanian Economic Business Review, 2013, vol. 8, issue 4.1, pages 60-68

Abstract: The main objective of this paper is to study the influence of tourism industry on the economic development in Bulgaria during the period 1998-2013. Compared with other sectors in the country the tourism has been the main motive power of economic growth in the last fifteen years. Registering a significant growth rate, the tourism has contributed to improvement of the main economic indicators and therefore is considered as essential development generator. At the same time, tourism in Bulgaria is facing serious structural weaknesses, namely one-sided product mix, dependence on limited number of markets, high seasonality, low performance indicators, and extreme territorial concentration limiting the wider spread of its benefits, while significant part of tourism potential remains unexploited. The conclusion is that the growth of tourist industry and its contribution to the economy could not be sustained with the existing approach, which generates environmental, social and economic pressure. Serious interventions are required in order to ensure sustainable tourism development, to diversify products and markets, to improve tourism performance indicators and to encourage its wider geographical spread.

Keywords: economic development; tourism; GDP growth (search for similar items in EconPapers)
Date: 2013
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