Despite the global escalation of the trade war, there have been no significant negative trends in Bulgaria's tourism sector so far. Konstantin Zankov, chief expert at the Institute for Analysis and Evaluation in Tourism, shared this insight in an interview on Bloomberg TV.
Zankov noted that tourism is typically one of the first sectors to feel the impact of economic uncertainty, as it is considered a luxury expenditure. However, he emphasized that while people may not stop traveling altogether, they are reconsidering their travel habits. Many travelers are opting for fewer trips and choosing more affordable accommodations, reflecting a more cautious approach in light of financial concerns.
In response to these changes, Zankov observed that tourists are becoming more prudent and managing risks better, with insurance now being a standard part of travel planning. The tourism industry, having weathered several crises in recent years, is adapting by targeting diverse market segments. Zankov pointed out that the number of channels through which hotels reach potential guests has expanded significantly.
Regarding the development of Bulgarian tourism, Zankov highlighted positive trends. Bulgarian tourism continues to grow, with more people traveling, an improvement in service quality, and an increase in sustainable tourist products. SPA tourism, in particular, is booming, attracting many foreign visitors to Bulgaria. Additionally, mountain tourism remains strong, and there are efforts to extend the beach season by offering new initiatives during off-peak periods.
However, challenges persist in the sector. Zankov expressed that the collaboration between the tourism industry and the government could be improved, as Bulgaria still has not fully embraced the best practices found in other countries. Another ongoing issue is the shortage of personnel in the tourism industry. To address this, workers from countries like Kazakhstan and Nepal are filling the gaps. Zankov stressed the need for measures that make the sector more attractive to Bulgarian workers, ensuring that more locals are employed in tourism with clear career development opportunities, rather than relying heavily on foreign labor.
