Cyprus vows to invest in Bulgarian tourism
November 16th, 2007
Cyprus has promised to lend a helping hand in developing Bulgaria’s tourism industry by training and investments. The assurance was given by Cyprus Minister of Commerce, Industry and Tourism Antonis Michaelides, who conferred in Sofia with Bulgaria’s Economy and Energy Minister Petar Dimitrov. Minister Michaelides pointed out that the Republic of Cyprus has excellent experience with Bulgarian workers and has placed no restrictions on Bulgarian jobseekers. Most of the 30,000 Bulgarians working in Cyprus are involved in its tourism industry as waiters and hotel staff, Antonis Michaelides said.
The Cyprus delegation, visiting Bulgaria, includes fourteen companies in the field of tourism, real estate property and banking. The country is the fifth biggest investor in Bulgaria with more than € 750 M invested over the last ten years.
Companies in Bulgaria’s tourism industry are finding it more and more difficult to recruit labour force and have recently warned they will be short of 30,000 workers next year.
Empty beds are only one of the Bulgarian tourism industry’s problems. Businesses have invested millions of euros to build beautiful hotel grounds, bars and other amenities, but the corresponding infrastructure, transportation and communication networks are too little or completely lacking.
Please note that there are many investment opportunities in the region of Varna, the Sea capital of Bulgaria. For more information, you may contact us directly.
