BASIC FACTS ABOUT BULGARIA 

• Politically stable, a full member of NATO with recent EU entry in January 2007

• Local currency (Lev) linked to the Euro since 1997

• Fastest developing tourist destination in Europe with 37% average annual growth (Bulgaria is the fastest growing holiday destination in the world according to tour operators such as Thomson and First Choice)

• The various geography climates allow both ski and beach resorts.

• Dramatically improving infrastructure

• Property prices currently up to five times cheaper than in other European countries.

• Since EU accession the mortgage market is maturing quickly, rates are becoming more competitive and stage payment finance is now possible

• GDP growth expected to be highest in Eastern Europe (Institute of International Finance) at 6% for 05/06

• Stable and predictable business and political environment with lowest operational costs and tax rates in a Europe

• Direct flight from most UK airports takes between 2.5 to 3 hours. Low-coast airlines will be entering the market soon under the Open-Skies agreement and the number of direct flights is increasing

• Shortage of Western’ quality new accommodation

• Industrial goods traded duty free between Bulgaria and the EU, EFTA, CEFTA and Turkey