Foreign tourist visits in Bulgaria up 1.6% y/y in Jan-Oct 2012.

By bne IntelliNews November 28, 2012
Growth in foreign tourist arrivals slowed to 3% y/y in October from 3.2% in September, statistics office data showed. In monthly terms, foreign tourist visits dropped 52%, in line with the seasonal pattern. Tourists from the EU visiting Bulgaria, which constituted 57% of all foreign tourists during the month, inched up 0.4% y/y. The number of tourists from other European countries rose by 8.5% y/y in October. Turkey and Russia were with the highest contribution to the positive result. Government expects some 5-8% more foreign tourists by year-end, mainly due to higher number of tourists from Russia and Ukraine (up by 15-20%). So far, however, the annual growth in foreign tourist arrivals is falling behind plans - it is some 1.6% towards the end of October. This sends less optimistic signals for the CA, which relies to a large extent on tourism revenue to offset the trade gap.

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