Brassic brits to boost bulgaria?

Bulgaria could be set to benefit from the weakening pound, claims one expert....

Helen Warburton of the Post Office, recently commented: “Many consumers in the UK are looking outside of the eurozone because the currency is now much stronger than the sterling.

“In fact, the pound has now fallen to a record low against the euro, which means people face much higher costs if they visit countries such as Italy, Spain or France.

”There have been significant increases in the cost of popular purchases such as food and drink.Therefore, holidaymakers are opting to visit destinations with more favourable exchange rates, such as Bulgaria.

Ms Warburton added: "People are looking for destinations where their holiday money will go further."

Rise of Irish visitors

According to Petar Kandilarov, Governer of Varna, Irish consumers who choose to visit Bulgaria is likely to double this year,

Mr Kandilarov commented: “Figures show that the Bulgaria country attracted 90,000 Irish holidaymakers during 2007. I believe the number for 2008 could possibly be twice as high, which could have a positive effect on various parts of the Bulgarian economy, including its tourism sector.

”Furthermore, the housing market could benefit from increased demand for rental accommodation, which in turn could have an effect on the construction industry. As a result, Bulgaria could be an ideal market for overseas property investors to consider”.