Bulgaria Tourism and Real Estate Primary Investors’ Targets - Report
March 10th, 200810 February 2008, Novinite.Com
The InvestBulgaria Agency (IBA) announced that Bulgaria’s tourism and real estate sectors attracted the greatest share of foreign direct investments of all sectors in 2007. According to their preliminary report, the foreign direct investments in January-November 2007 reached about EUR 5,05 billion which is a 20% increase from the same period in 2006. This figure is 17,7% of the country’s GDP.
The IBA stated that the improvements of the business climate in the country were related primarily to the reduction of the earnings tax, which is now down to 10%, and of the social security tax.
The largest foreign investors in Bulgaria in 2007 are reported to be the UK, Austria, Greece, Belgium, Spain, Cyprus, and Luxembourg.
