Sat, Jul 04 2009

FROM THE EDITOR: Bulgaria's property and tourism

Mon, Sep 10 2007 09:00 CET 88 Views

On Bulgaria's Black Sea coast, property developments and the tourism industry live in uneasy juxtaposition, rather the complementing each other.

There can be no denying that the excessive construction of sundry monstrosities along the coast has had a negative effect. Not only from an environmental point of view and with the long-term sustainability of such projects being an open question, but also because much of the essential character of Bulgaria's scenic and traditional cultural allure is rapidly being lost.

Now, new research suggests that there has been a significant change in the pattern of purchases of property along the coast. If the findings are correct, the proportion of buyers from the United Kingdom and Ireland has dropped substantially and their place is being taken by buyers from Central and Eastern Europe, from countries in an arc from Bulgaria's northern neighbour Romania up to Russia. This latter group of buyers has wants and needs that are notably different from the stock now being supplied that was planned with British and Irish buyers in mind. From the study, it may be extrapolated that there is only so much potential in the new wave of buyers, once they have exhausted the supply of property that matches what they want.

If this is true, the Black Sea coast property market problem may be deeper than even it first seemed. Construction is continuing apace, and the question mark over whether all these developments will be fully sold now looms even bigger. In a worst-case scenario, while communism left as its legacy the crumbling eyesores of disused factories around the countryside, the latter-day interpretation of the free market in property may leave as its legacy unoccupied behemoths along the coast. If the holiday property market fails to fulfil the potential that some presumably believed it to have, hotel and holiday apartments that are surplus to requirements could end up as nothing more than very cheap places of accommodation, with concomitant implications for the revenue potential both from the property and tourism industries.

To add to these worries, sight should not be lost of the fact of Bulgaria's potential in eco tourism. Yet what will become of eco tourism if development continues in, or unhealthily close to, "protected" nature areas? Further, Bulgaria needs to be reminded once more of the need to cater for affordable holidaymaking for its own nationals, especially given the fickleness of the international tourist market.

First, the fullest extent of law enforcement needs to be brought to bear against any current development of questionable legality or environmental undesirability. Second, planning regulations on height, volume and scale of permissible developments need to be urgently rethought before further damage is done.

A new strategic approach is needed to assess as accurately as possible the future requirements for the property market so that whatever developments are allowed to take place have a reasonable chance of success, both in terms of contributing to economic growth but also in being constrained in their environmental impact. This strategic approach needs to take account of ensuring that tourism, including eco tourism, has a viable future. Putting some serious thought into a vision for the Black Sea coast that is not obstructed by a bleak and crumbling wall of deathly developments is a matter for which the authorities urgently need to take responsibility. If it is not already too late, it soon will be.

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