Travel and Tourism in Bulgaria to 2017

Published: Mar, 2014 | Pages: 96 | Publisher: Timetric
Industry: Travel Services | Report Format: Electronic (PDF)

Synopsis
The report provides detailed market analysis, information and insights, including:
Historic and forecast tourist volumes covering the entire Bulgarian travel and tourism sector
Detailed analysis of tourist spending patterns in Bulgaria for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
Detailed market classification across each category, with analysis using similar metrics
Detailed analysis of the airline, hotel, car rental and travel intermediaries industries

Summary
Growth in the Bulgarian travel and tourism sector slowed during the review period (2008-2012) driven by decline in domestic trips at a CAGR of -3.78%. However, growth in domestic trips was recorded in 2012 supported by the economic improvements in the country. Timetric expects the Bulgarian tourism sector to record healthy growth over the forecast period (2013-2017), in line with growth in supporting industries. The government and tourism agencies have been making continuous efforts to increase tourism activity in the country.
Scope
This report provides an extensive analysis related to the tourism demands and flows in Bulgaria:
It details historical values for the Bulgarian tourism sector for 2009-2013, along with forecast figures for 2014-2018
It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009-2013 review period and the 2014-2018 forecast period
The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Bulgaria.
It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009-2013 review period and the 2014-2018 forecast period.
Reason To Buy
Take strategic business decisions using historic and forecast market data related to the Bulgarian travel and tourism sector.
Understand the demand-side dynamics within the Bulgarian travel and tourism sector, along with key market trends and growth opportunities.
Key Highlights
Despite the National Strategy for Tourism's (NST) attempts to reposition Bulgaria as a high-class tourist destination, it is still viewed by tourists as 'cheap'. The country's biggest advantage is that it is an all-year-round holiday destination, with both beaches and ski resorts. However, poor infrastructure, insufficient advertising and poor service means it is not reaching its full potential.
Tourists from emerging markets such as Brazil and India increased during the review period; in 2012, 3,000 Indian tourists visited the country. The Embassy of the Republic of Bulgaria, in association with the Bulgarian Tourism Authority and National Tourist Board, started to promote the country's tourism offerings in India to encourage a further increase in tourist arrivals. With rapidly rising incomes in Russia allowing citizens to spend more on holidays, and Bulgaria's favorable visa policy, Russian tourists to Bulgaria increased from 201,124 in 2008 to 449,734 in 2012, at a review-period CAGR of 22.28%.
The Bulgarian outbound market is very small, with only 758,296 trips made in 2012. In 2010, the number of outbound trips declined by 24.6%, primarily due to deteriorating economic conditions, rising unemployment and a decline in disposable income. Economic improvements led a return to growth at a rate of 16.7% in 2011, but the country slipped into recession again in 2012, resulting in a 2.3% decline in outbound tourism in the same year.
The Ministry of Economy, Energy and Tourism aims to make Bulgaria more attractive to different tourists by developing health and wellness tourism, spa tourism, and meetings, incentives, conferencing and exhibitions (MICE) tourism through construction activities. According to the Bulgarian Union of Balneology and Spa Tourism, Bulgaria has over 100 spa and wellness centers; the industry is performing strongly due to rising demand for these services.
In 2013, the Ministry commenced work on new branding at a cost of BGN1.6 million (EUR800,000). In March of the same year, a new brand logo was created to accommodate the views of all service providers and consumers in the travel and tourism sector. The rebrand aimed to position Bulgaria as an attractive and affordable tourist destination to increase tourism from key source markets including Germany, Russia, Romania and the UK.
During the period of financial downturn, airlines struggled to stay competitive. In 2010, one of the oldest airlines in the country, Hemus Air, which operated scheduled domestic and international services from Sofia and Varna, merged with Bulgaria Air. Similarly, to increase its operational efficiency, Wizz Air Bulgaria, which started operations in 2005, merged with sister company Wizz Air Hungary in 2011.
Cheap land and the lack of luxury accommodation make the country a suitable investment destination for international hotel chains. For example, in April 2011, French hotel operator Accor announced plans to invest US$27.8 million in the construction of a hotel in Sofia; the Hotel Novotel Sofia opened in March 2013. Other international hotel companies, such as Rezidor, Hilton, and Turkish chain Dedeman Hotels & Resorts International, have similar expansion plans.
Leading international car rental companies such as Hertz, Thrifty, Europcar, and Avis are present in the country. Autotechnica Ltd, part of the Hertz franchise, had the largest market share in 2012. Approximately 90% of the market is served by 10 companies.
In August 2012, Bulgarian tour operator VIP Tours was declared bankrupt. Around 1,000 people were affected, but the situation was resolved through the acquisition of customers by other Bulgarian tour operators. The company's collapse affected fewer tourists than the bankruptcy of Alma Tour last year, when hundreds of tourists were left stranded in Bulgaria.

 1 Executive Summary
1.1 Key Trends and Issues
1.1.1 Inbound tourism not reaching its full potential
1.1.2 Health and wellness tourism gaining popularity
2 Travel and Tourism Sector In Context
2.1 Tourist Attractions
3 Country Fact Sheet
4 Tourism Flows
4.1 The Market
4.1.1 Domestic tourism
4.1.2 Inbound tourism
4.1.3 Outbound tourism
4.2 Key Developments
4.2.1 Government initiatives to promote tourism
4.2.2 Health and wellness tourism
4.3 Timetric View
4.3.1 Domestic tourism
4.3.2 Inbound tourism
4.3.3 Outbound tourism
5 Airlines
5.1 The Market
5.2 Key Developments
5.2.1 Airline mergers
5.2.2 New routes
5.2.3 New airport in Bulgaria
5.3 Competitive Landscape
5.4 Timetric View
6 Hotels
6.1 The Market
6.2 Key Developments
6.2.1 Investment opportunities
6.2.2 New hotels opening in Bulgaria
6.3 Competitive Landscape
6.4 Timetric View
7 Car Rental
7.1 The Market
7.2 Competitive Landscape
7.3 Timetric View
8 Travel Intermediaries
8.1 The Market
8.2 Key Developments
8.2.1 VIP Tours filed for bankruptcy
8.3 Timetric View
9 Tourism Board Profile
9.1 Tourist Board Description
9.2 Target Market
10 Airport Profiles
10.1 Bulgarian Airports
10.1.1 Overview
10.1.2 Operator profile
10.1.3 Routes
11 Company Profiles - Airlines
11.1 Company Profile: Bulgaria Air
11.1.1 Bulgaria Air - company overview
11.1.2 Bulgaria Air - main services
11.1.3 Bulgaria Air - key competitors
11.1.4 Bulgaria Air - key employees
11.2 Company Profile: Wizz Air Bulgaria
11.2.1 Wizz Air Bulgaria - company overview
11.2.2 Wizz Air Bulgaria - main services
11.2.3 Wizz Air Bulgaria - key competitors
11.2.4 Wizz Air Bulgaria - key employee
11.3 Company Profile: S7 Airlines Bulgaria
11.3.1 S7 Airlines Bulgaria - company overview
11.3.2 S7 Airlines Bulgaria - main services
11.3.3 S7 Airlines Bulgaria - key competitors
11.3.4 S7 Airlines Bulgaria - key employee
11.4 Company Profile: Austrian Airlines Bulgaria
11.4.1 Austrian Airlines Bulgaria - company overview
11.4.2 Austrian Airlines Bulgaria - main services
11.4.3 Austrian Airlines Bulgaria - key competitors
11.4.4 Austrian Airlines Bulgaria - key employees
11.5 Company Profile: Lufthansa Airlines Bulgaria
11.5.1 Lufthansa Airlines Bulgaria - company overview
11.5.2 Lufthansa Airlines Bulgaria - main services
11.5.3 Lufthansa Airlines Bulgaria - key competitors
11.5.4 Lufthansa Airlines Bulgaria - key employee
12 Company Profiles - HOTELS
12.1 Company Profile: Best Western Hotels Bulgaria
12.1.1 Best Western Hotels Bulgaria - company overview
12.1.2 Best Western Hotels Bulgaria - main services and brands
12.1.3 Best Western Hotels Bulgaria - key employee
12.2 Company Profile: Melia Hotels Bulgaria
12.2.1 Melia Hotels Bulgaria - company overview
12.2.2 Melia Hotels Bulgaria - main services
12.2.3 Melia Hotels Bulgaria - key employee
12.3 Company Profile: FPI Hotels & Resorts
12.3.1 FPI Hotels & Resorts - company overview
12.3.2 FPI Hotels & Resorts - main services
12.4 Company Profile: Riu Hotels & Resorts Bulgaria
12.4.1 Riu Hotels & Resorts Bulgaria - company overview
12.4.2 Riu Hotels & Resorts Bulgaria - main services
12.4.3 Riu Hotels & Resorts Bulgaria - key employees
12.5 Company Profile: Grifid Hotels
12.5.1 Grifid Hotels - company overview
12.5.2 Grifid Hotels - main services and brands
12.5.3 Grifid Hotels - key employees
12.6 Company Profile: Accor Hotels Bulgaria
12.6.1 Accor Hotels Bulgaria - company overview
12.6.2 Accor Hotels Bulgaria - main services
12.6.3 Accor Hotels Bulgaria - key employees
12.7 Company Profile: Hilton Hotels Bulgaria
12.7.1 Hilton Hotels Bulgaria - company overview
12.7.2 Hilton Hotels Bulgaria - main services and brands
12.7.3 Hilton Hotels Bulgaria - key employee
13 Company Profiles - Car Rental
13.1 Company Profile: Hertz Rent a Car Bulgaria
13.1.1 Hertz Rent a Car Bulgaria - company overview
13.1.2 Hertz Rent a Car Bulgaria - main services
13.1.3 Hertz Rent a Car Bulgaria - key employee
13.2 Company Profile: Avis Rent a Car Bulgaria
13.2.1 Avis Rent a Car Bulgaria - company overview
13.2.2 Avis Rent a Car Bulgaria - main services
13.2.3 Avis Rent a Car Bulgaria - key employees
13.3 Company Profile: Europcar Bulgaria
13.3.1 Europcar Bulgaria - company overview
13.3.2 Europcar Bulgaria - main services
13.3.3 Europcar Bulgaria - key employees
14 Company Profiles - Travel Intermediaries
14.1 Company Profile: Magic Tours Ltd
14.1.1 Magic Tours Ltd - company overview
14.1.2 Magic Tours Ltd - main services
14.1.3 Magic Tours Ltd - key competitors
14.1.4 Magic Tours Ltd - key employee
14.2 Company Profile: Stars Travel Ltd
14.2.1 Stars Travel Ltd - company overview
14.2.2 Stars Travel Ltd - main services
14.2.3 Stars Travel Ltd - key competitors
14.3 Company Profile: Valenta Plyus
14.3.1 Valenta Plyus - company overview
14.3.2 Valenta Plyus - main services
14.4 Company Profile: Astral Holidays
14.4.1 Astral Holidays - company overview
14.4.2 Astral Holidays - main services
14.4.3 Astral Holidays - key employees
15 Market Data Alysis
15.1 Domestic Tourism
15.1.1 Number of trips and overnight stays
15.1.2 Number of overnight stays
15.1.3 Total domestic tourism expenditure
15.1.4 Average expenditure per domestic tourist by category
15.2 Inbound Tourism
15.2.1 Intertiol arrivals by region
15.2.2 Intertiol arrivals by purpose of visit
15.2.3 Total inbound tourism expenditure by category
15.2.4 Average intertiol tourist expenditure by category
15.3 Outbound Tourism Flows
15.3.1 Intertiol departures by region
15.3.2 Intertiol departures by purpose of visit
15.3.3 Number of overnight stays
15.3.4 Total outbound tourism expenditure by category
15.3.5 Average overseas expenditure per resident by category
15.4 Airlines
15.4.1 Seats available
15.4.2 Number of seats sold by passenger type
15.4.3 Load factor
15.4.4 Passenger kilometers available
15.4.5 Revenue-generating passenger kilometers
15.4.6 Revenue per passenger
15.4.7 Total airline revenue
15.5 Hotels
15.5.1 Hotel establishments
15.5.2 Available rooms
15.5.3 Room occupancy rate
15.5.4 Room nights available
15.5.5 Room nights occupied
15.5.6 Average revenue per available room
15.5.7 Revenue per occupied room
15.5.8 Total revenue per available room
15.5.9 Total hotel revenue
15.5.10 Guests by customer type
15.6 Car Rentals
15.6.1 Market value by customer type
15.6.2 Fleet size
15.6.3 Rental occasions
15.6.4 Rental length
15.6.5 Average rental length
15.6.6 Utilization rate
15.6.7 Average revenue per day
15.7 Travel Intermediaries
15.7.1 Travel intermediaries market value by product type
15.7.2 Travel intermediaries market value by channel
15.7.3 Travel intermediaries market value by destition
15.7.4 Travel intermediaries market value by customer type
16 Appendix
16.1 What is This Report About?
16.2 Definitions
16.3 Methodology
16.4 Contact Timetric
16.5 About Timetric
16.6 Timetric's Services
16.7 Disclaimer


List of Tables
Table 1: Bulgaria - Tourist Arrivals from Top-10 Countries (Thousand), 2008-2017
Table 2: Bulgaria - Tourist Departures to Top-10 Countries (Thousand), 2008-2017
Table 3: tiol Tourist Council - Key Facts and Locations
Table 4: Sofia Airport - Overview
Table 5: Burgas Airport - Overview
Table 6: Var Airport - Overview
Table 7: Plovdiv Airport - Overview
Table 8: Bulgaria Air, Key Facts
Table 9: Bulgaria Air, Main Services
Table 10: Bulgaria Air, Key Employees
Table 11: Wizz Air Bulgaria, Key Facts
Table 12: Wizz Air Bulgaria, Main Services
Table 13: Wizz Air Bulgaria, Key Employee
Table 14: S7 Airlines Bulgaria, Key Facts
Table 15: S7 Airlines Bulgaria, Main Services
Table 16: S7 Airlines Bulgaria, Key Employee
Table 17: Austrian Airlines Bulgaria, Key Facts
Table 18: Austrian Airlines Bulgaria, Main Services
Table 19: Austrian Airlines Bulgaria, Key Employees
Table 20: Lufthansa Airlines Bulgaria, Key Facts
Table 21: Lufthansa Airlines Bulgaria, Main Services
Table 22: Lufthansa Airlines Bulgaria, Key Employee
Table 23: Best Western Hotels Bulgaria, Key Facts
Table 24: Best Western Hotels Bulgaria, Main Services and Brands
Table 25: Best Western Hotels Bulgaria, Key Employee
Table 26: Melia Hotels Bulgaria, Key Facts
Table 27: Melia Hotels Bulgaria, Main Services
Table 28: Melia Hotels Bulgaria, Key Employee
Table 29: FPI Hotels & Resorts, Key Facts
Table 30: FPI Hotels & Resorts, Main Services
Table 31: Riu Hotels & Resorts Bulgaria, Key Facts
Table 32: Riu Hotels & Resorts Bulgaria, Main Services
Table 33: Riu Hotels & Resorts Bulgaria, Key Employees
Table 34: Grifid Hotels, Key Facts
Table 35: Grifid Hotels, Main Services and Brands
Table 36: Grifid Hotels, Key Employees
Table 37: Accor Hotels Bulgaria, Key Facts
Table 38: Accor Hotels Bulgaria, Main Services
Table 39: Accor Hotels Bulgaria, Key Employees
Table 40: Hilton Hotels Bulgaria, Key Facts
Table 41: Hilton Hotels Bulgaria, Main Services and Brands
Table 42: Hilton Hotels Bulgaria, Key Employee
Table 43: Hertz Rent a Car Bulgaria, Key Facts
Table 44: Hertz Rent a Car Bulgaria, Main Services
Table 45: Hertz Rent a Car Bulgaria, Key Employee
Table 46: Avis Rent a Car Bulgaria, Key Facts
Table 47: Avis Rent a Car Bulgaria, Main Services
Table 48: Avis Rent a Car Bulgaria, Key Employees
Table 49: Europcar Bulgaria, Key Facts
Table 50: Europcar Bulgaria, Main Services
Table 51: Europcar Bulgaria, Key Employees
Table 52: Magic Tours Ltd, Key Facts
Table 53: Magic Tours Ltd, Main Services
Table 54: Magic Tours Ltd, Key Employee
Table 55: Stars Travel Ltd, Key Facts
Table 56: Stars Travel Ltd, Main Services
Table 57: Valenta Plyus, Key Facts
Table 58: Valenta Plyus, Main Services
Table 59: Astral Holidays, Key Facts
Table 60: Astral Holidays, Main Services
Table 61: Astral Holidays, Key Employees
Table 62: Bulgaria - Number of Trips by Purpose (Thousand), 2008-2017
Table 63: Bulgaria - Number of Overnight Stays (Million), 2008-2017
Table 64: Bulgaria - Total Domestic Tourism Expenditure (BGN Million), 2008-2017
Table 65: Bulgaria - Average Expenditure per Domestic Tourist by Category (BGN), 2008-2017
Table 66: Bulgaria - Intertiol Arrivals by Region (Thousand), 2008-2017
Table 67: Bulgaria - Intertiol Arrivals by Purpose of Visit (Thousand), 2008-2017
Table 68: Bulgaria - Total Inbound Tourism Expenditure by Category (BGN Million), 2008-2017
Table 69: Bulgaria - Average Expenditure per Inbound Tourist by Category (BGN), 2008-2017
Table 70: Bulgaria - Intertiol Departures by Region (Thousand), 2008-2017
Table 71: Bulgaria - Intertiol Departures by Purpose of Visit (Thousand), 2008-2017
Table 72: Bulgaria - Overnight Stays (Million), 2008-2017
Table 73: Bulgaria - Total Outbound Tourism Expenditure by Category (BGN Million), 2008-2017
Table 74: Bulgaria - Average Outbound Expenditure per Resident by Category (BGN), 2008-2017
Table 75: Bulgaria - Number of Seats Available (Million), 2008-2017
Table 76: Bulgaria - Number of Seats Sold by Passenger Type (Thousand), 2008-2017
Table 77: Bulgaria - Load Factor (%), 2008-2017
Table 78: Bulgaria - Number of Passenger Kilometers Available (Million), 2008-2017
Table 79: Bulgaria - Number of Revenue-Generating Passenger Kilometers (Million), 2008-2017
Table 80: Bulgaria - Revenue per Passenger (BGN Thousand), 2008-2017
Table 81: Bulgaria - Total Revenue (BGN Million), 2008-2017
Table 82: Bulgaria - Hotel Establishments (Actual), 2008-2017
Table 83: Bulgaria - Available Hotel Rooms (Thousand), 2008-2017
Table 84: Bulgaria - Hotel Room Occupancy Rate (%), 2008-2017
Table 85: Bulgaria - Room Nights Available (Million), 2008-2017
Table 86: Bulgaria - Room Nights Occupied (Million), 2008-2017
Table 87: Bulgaria - Average Revenue per Available Room (BGN), 2008-2017
Table 88: Bulgaria - Average Revenue per Occupied Room (BGN), 2008-2017
Table 89: Bulgaria - Total Revenue per Available Room (BGN), 2008-2017
Table 90: Bulgaria - Total Hotel Revenue (BGN Million), 2008-2017
Table 91: Bulgaria - Guests by Customer Type (Thousand), 2008-2017
Table 92: Bulgaria - Car Rental Market Value by Customer Type (BGN Million), 2008-2017
Table 93: Bulgaria - Car Rental Fleet Size (Actual), 2008-2017
Table 94: Bulgaria - Car Rental, Rental Occasions (Thousand), 2008-2017
Table 95: Bulgaria - Car Rental, Rental Days (Thousand), 2008-2017
Table 96: Bulgaria - Car Rental, Average Rental Length (Days), 2008-2017
Table 97: Bulgaria - Car Rental, Market Utilization Rate (%), 2008-2017
Table 98: Bulgaria - Car Rental Average Revenue per Day (BGN), 2008-2017
Table 99: Bulgaria - Travel Intermediaries Market Value by Product Type (BGN Million), 2008-2017
Table 100: Bulgaria - Travel Intermediaries Market Value by Channel (BGN Million), 2008-2017
Table 101: Bulgaria - Travel Intermediaries Market Value by Destition (BGN Million), 2008-2017
Table 102: Bulgaria - Travel Intermediaries Market Value by Customer Type (BGN Million), 2008-2017
Table 103: Timetric Travel and Tourism Sector Definitions

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