Bulgaria to attract more Irish tourists

Overseas property investors could be set to benefit from growing tourism in Bulgaria.

According to the Novinite news agency, the eastern European country is becoming especially popular with holidaymakers from Ireland.

Petar Kandilarov, governor of Varna, was quoted as saying that the number of Irish visitors could possibly double in 2008.

This is likely to be a positive development for owners of rental accommodation in popular Bulgarian holiday resorts such as Bansko.

Increased tourist numbers will lead to greater demand for temporary lodgings across the country, which in turn allows investors to collect higher returns.

Official figures cited by Novinite show that 90,000 Irish holidaymakers visited Bulgaria last year.

The predictions comes just officials in the UK forecast that more British tourists would soon head for eastern Europe.

Helen Warburton of the Post Office told the Daily Mail that lots of holidaymakers are opting to visit destinations with more favourable exchange rates, such as Bulgaria.

This is because the pound has 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.