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The research is based on studies of the tourist potential in several municipalities in Bulgaria, which are still unpopular developing destinations. The aim is to present the individual stages in the scientific research process in the planning and development of a tourist destination and their practical aspect. The study of the opportunities for sustainable development of each of them requires the use of a wide palette of general scientific and private methods: questionnaire surveys, workshops with representatives of the local community and a wide range of interested parties, polling and working with focus groups; use of empirical research methods: method of field observations; camera methods: collecting primary information, processing and analysis of documents. For this purpose, a unified methodology for sustainable tourism development at the local level has been developed, including a methodological research framework, analysis and assessment of tourist resources and attractions, human resources and administrative capacity, infrastructure and material base available to the destination. The individual components are presented as subsystems of the territorial system for recreation and tourism and the study of the interrelationships between them, definition of strategic goals and priorities and proposals for sustainable tourism development. The research thesis declares that the achievement of sustainable development of a tourist destination at the local level is possible only by using a clear methodology and following successive scientific research stages in studying and planning, and to prove this specific examples and good practices approved in several municipalities are shown.
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The tourism industry in Bulgaria is in crisis, caused by a global factor external to the industry - the COVID-19 pandemic. The pandemic has affected the overall socio-economic development, incl. tourism, globally, regionally and nationally. This circumstance demonstrates the important role of four key factors: the geopolitics of EU structures, the policies formulated by the World Health Organization (WHO) and the World Tourism Organization (UNWTO); and the national tourism policy, which is harmonized with them. The object of this study is the national tourist space of Bulgaria, and the subject of the study is an analysis of the relationships between the main groups of factors: geopolitical, economic and state-legal, and the tourism industry in the country, strongly influenced by the crisis COVID-19, as well as major trends in the development of tourism in the years of the pandemic. Research background: The drastic decline in active mass international arrivals to Bulgaria in 2020 – 2022 period was larger than the number of Bulgarians traveling abroad. This was caused by the outflow of large international tour operators supplying tourists to seaside, and winter resorts in Bulgaria. Among the reasons for this are, besides the mass character of tourism, the policies of international, but not least and at the national level. Purpose: Study of the main groups of factors: geopolitical, economic and state-legal, affecting tourism in the period 2020 – 2022 influenced by the crisis COVID-19, as well as major trends in the development of tourism in the years of the pandemic. Methods: Content analysis, statistical analysis Findings and novelty The development of tourism in Bulgaria, in the context of the COVID-19 pandemic, is undergoing a process of transformation under the influence of international, and national policies. A proactive national policy is needed, taking into account the changes that have taken place in the development of tourism, both in terms of supply and demand.
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Based on the theory of planned behavior and analysis of destinations in Bulgaria like Central and Western Balkan Mountain, Sofia district, Radomir, Smolyan, Ardino etc., this paper has proposed suggestions on designing tourist products in the provinces of Bulgaria in a sustainable manner. The ambition is to encourage rural areas to make full use of local superior resources and promote the prosperity of local rural economy. The research is based on field research of the specific places with the cooperation of local authorities and different organizations. The paper begins with a literature review of the theory of planes behavior concerning the role of tourism in sustainable destination development, considering the specificities of rural tourism, and the contribution of this tourism to sustainable development of rural areas. The literature review is followed by a case study for several regions in Bulgaria. Via qualitative and quantitative approach, the case studies identify the views of diverse stake holders (visitors, public, private agents of supply, residents and consultants). The methodology and observations under the analysis are presented and open for discussion. The paper ends with some prescriptions and offers for marketing strategy creation.
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The fourth industrial revolution (4IR) era is marked by the advent of artificial intelligence and the breakdown of traditional boundaries between different spheres of life. This creates a demand for the unification of different ideas and fields, such as “One Health” (OH) and “Circular Economy” (CE). Although these may seem divergent, they share common philosophical roots and can work together to create a healthy green future, supporting sustainable development and well-being. The aim of the present report is twofold: 1) to introduce the OH paradigm and the possibilities provided by the interaction with the ideas of moving from a linear to a CE; 2) to present successful policies, pathways, and practices uniting the pursuit of a healthy life and the principles of the CE. The interrelationships between the concepts of OH and CE are analyzed from the positions of a medical doctor, a public health researcher, educator and a participant in several initiatives related to the integration of health impact assessment as a strategic goal of the CE. The distinct concepts: Every academic field has its theories and terms. In public health, OH is a planetary movement that recognizes the fundamental connection between the environment, human and animal health. In this sense, OH finds support in the holistic approaches of the CE, which are a practical opportunity to study the integrated influence of all environmental factors on health. Resilient collaborations: The World Health Organization has been supporting research in the scientific field of "circular economy and health" for decades. There is empirical evidence to support the success of European models that link health and ecology. Conclusions: The potential of intersectoral collaborations to promote health and build a green future is undeniable. This need is recognized in the field of public health and at the national level. In the 4IR era, swift action is necessary to ensure that overall societal development does not lag behind EU member states.
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The EC adopted the new circular economy action plan in March 2020 as one of the main building blocks of the European Green Deal. The expectations are that the EU’s transition to a circular economy will reduce pressure on natural resources and will create sustainable growth and jobs in EU countries. Water is at the core of sustainable development and is critical for socioeconomic development, energy and food production, as well as healthy ecosystems and the benefits they deliver to people. Water recycling and reuse as central to a circular economy approach is in a focus of this paper. Purpose: The paper deals with current situation of implementation of circular economy concept in the water sectors of the four countries. It aims not only to describe the state of play but the most important objective is to reveal what are the major gaps and how they can be filled by future research projects and programmes. Methods: The papers summarised results collected from four questionnaires filled by experts of investigated countries as well information and data from other studies and datasets of OECD, Eurostat and national sources. Findings and novelty: The study reveals only a few cases in the countries studied, relevant to the concept of circular economy and as well as niche markets in the four countries. The implementation of energy efficiency and non-revenue water reduction programs that have recovered the investments in a short period while saving water and energy and increasing the amount of people with access to services; the recovery of resources from wastewater and the creation of new revenue streams by using for own needs or selling energy, water, and fertilizers to cover operating costs; the application of circular economy principles to become carbon neutral, recover resources from water and preserve the environment; the assessment of the full potential of the existing infrastructure, resulting in huge savings in capital investments.
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Worldwide, farmers are striving to maintain and increase the amount of humus in the soil, which is directly related to proper soil fertility management and, above all, the root management of plants grown in the soil. One way to achieve this is with the use of intercrops (also called cover crops). These crops stimulate humus formation, they build the condition for the active life of beneficial microbial organisms by feeding them and leave valuable nutrients in the soil for the next crop, providing it with the opportunity to increase its yield. The presence of living roots for most of the growing season increases soil energy, the amount of microorganisms and nutrient cycling. The purpose of this study is to track the use of good agricultural practices such as the application of microbial fertilizers, "smart" insecticides and fungicides, mycorrhizal treatments, and biological ones to degrade crop residues under minimum tillage technologies coupled with cover crops application.
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Despite the wide acceptance of the sustainable development concept, its implementation is still limited due to the difficulty of its practical application. The challenges are related to the comprehensive assessment of tourism impacts on the environment. Research on the problem in Bulgaria is still scarce. The known publications are at national level and do not give a clear picture of tourism sustainable development and its problems at regional and local levels. An appropriate regional level for monitoring sustainable tourism development is the national resort - it is possible to achieve purposeful use of local resources, combined with its effective control, while taking into account the interests of all parties concerned. The extent to which activities in the tourism sector affect the local environment is the aim of the current analysis of public assessment. Tourism undoubtedly has its positive impact on employment opportunities and local communities’ development, but it also leads to negative consequences on the natural features of the respective territories. The research includes a field survey of the opinion of the general public (residents of the municipality of Balchik) and users of tourist services in Albena national resort. The survey was conducted in the period June – July 2021.
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Eastern Bulgaria has three administrativе areas and two main strategic assets: the chemical plants in Devnya and the petrochemical plant in Burgas. Other than these, potential targets of attack can be the following: the ports and airports of Varna and Burgas, the Asparuhovo Bridge, the Naval Academy, the Bulgarian Navy Headquarters, and the port office. In such cases, we have to take measures to safeguard the unaffected infrastructure. The Plants in Devnya and Burgas are big industrial assets of great significance to the nation’s economy. They are not protected from strikes during the war. Also, the water sources and reservoirs also have to be protected. Along the coastline, there are many resorts and camping sites where people from the country and abroad gather during the summer. Nowadays, it is also important to protect communications and the transport link infrastructures so that the economy of Bulgaria can operate normally.
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The critical infrastructure arose as a result of the economic crisis and this necessitates the use of bank loans to finance the activities of the enterprises with a limited amount of equity capital and a deteriorated financial condition. When granting short-term and long-term loans to finance the needs of the enterprises, the commercial banks require the provision of solid guarantees designed to reduce the risk of non-payment to a minimum. This limits the implementation of the plan for the investments of the enterprises and gives priority to financing with own funds, which are insufficient in the conditions of the crisis, to solve the following problems: regular payment of the installments on pre-contracted loans; ensuring the remuneration of capital owners - distribution of the dividends between the shareholders; maintaining the economic potential of the enterprise at a competitive level. In this aspect, the aim of the research is to analyze the reasons for reducing the risk in granting loans, the opportunities to improve the activity of the "Finance" sector of the critical infrastructure, the ways to strengthen the activity of enterprises and to conduct of a correct state financial policy, which are a guarantee of overcoming the negative consequences of the crisis. In this regard, the report draws conclusions regarding the impact of the changes in the inflation and the interest rates on loans on the economic behavior of the enterprises to reduce financial risk and improve bank lending in the conditions of an economic crisis.
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The current literature is dominated by reports and studies that mainly focus on the benefits and effectiveness of implementing the Circular economy (CE). Few authors and publications examine the topic from a critical perspective, stressing on disadvantages, and potential problems in the model. The presence of scientifically negative positions inevitably necessitates the need to collect, systematize and thoroughly explore them. The report aims to make a general analysis of some of the existing criticisms regarding the CE model. The initial review revealed that the main challenges and disagreements centered mainly on the comprehensiveness and complexity of the subject matter; the need for a correct and realistic risk assessment; the absence or ambiguity regarding the strategic directions of development; the incompleteness and still insufficient clear and specific legislation and standardization; as well as to and prioritizing global issues. In order to identify and improve the weaknesses of the model, is extremely important for the critical analysis to be constructive and justified. This approach of analysis aims to contribute to the maximum extent to the overall improvement of the model during its implementation.
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The main aim in tourism management is to provide opportunities for achieving optimal results of the development of the hotel organizations and good results from business activities. The emerging climate changes and their consequences provoke the development of effective management solutions and prevention against negative environmental effects in the tourism sector. The general tasks that follow from the goal of the study are directly aimed at clarifying the nature of the integrated management in the hotel industry, estimating the environmental parameters in the bigger resorts of the Bulgarian Black Sea coast and the application of eco-friendly technologies in the tourism sector and the SPA and Medical hotel’s product. The study includes conducting laboratory tests of salty mineral water and the natural resource "Healing mud" from the source Pomorie salt lake, as well as the natural resource "Black Sea lye" from the Salt factory – Bourgas. In the last part of the study, the need and the information for introducing an environmental audit system in the tourism sector will be assessed by performing two types of questionnaire survey among business representatives and customers. Managers describe the strengths and weaknesses of this type of centres in hotel complexes and the importance of introducing eco standards. In the second type of questionnaire, consumers evaluate the quality of the SPA and Medical hotel’s product and the efficient use of natural resources. There is a growing interest and importance of SPA tourism for the population, in the quality of Wellness and Medical hotel’s products provided. The motivation of the tourists looking for destinations for their holidays or convalescent stays to places with a direct connection between man and nature, is increased. People are gradually realizing the benefits of natural resources on their healthy and satisfied lifestyles. As a result of the imbalance between available natural resources and their consumption, businesses appreciate the need for effective management solutions to address climate changes and prevention against environmental risk. A specialised approach and the implementation of integrated management are therefore required to ensure continued engagement and sustainable development of the tourism sector.
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In recent years, there has been an increasing push towards the introduction of circular economy models, which would work in opposition to the traditional linear model "extraction-production-consumption-disposal".As part of the Black Sea Basin, Bulgaria has unique coastal and marine resources that offer opportunities for sustainable growth of the industries that depend on them. Although a large part of the economy along the Bulgarian coast continues to rely on traditional sectors such as beach tourism, fishing, maritime transport and mining, it should be borne in mind that the application of circular economy models has enormous potential. However, there is an increasingly fragmented management of coastal and marine natural resources, due to a lack of consistency in sectoral policies and market development at the regional and national level, which should be overcome through a comprehensive approach based on a comprehensive development vision.
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The article aims to consider the Policy on state participation in public enterprises under the new Public Enterprises Act and the Implementing Regulations of the Public Enterprises Act.
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The relationship between innovation, entrepreneurship and entrepreneurs is absolutely proportional and in direct relation to both corporate and national security, especially with regard to the well-being of the individual and business as the basis of the stability of society in financial, economic, social and psychological aspects, conditioning high level of national security and in particular that of the population.
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The paper reveals the world economic development in retrospective period with a stress on the past few years. It tries to find the interconnections between the different factors and phenomenon. The trends in the leading economies are outlined – the USA, China, Japan, Germany and the Eurozone. Special attention is paid to Gross Domestic Product (GDP) growth rates, economic activity, and inflation rates. Short-term forecasts are made and a comparison with ready predictions is done. The major issues for the future development are assessed. The main macroeconomic indicators for Bulgaria are discussed and explanations for their specific movement is given – GDP growth, its components, export, import, budget deficit, debt to GDP rate, inflation and unemployment rates, etc. The specific factors which influence Bulgarian economy are found and solution for the mitigation of negative ones is given. At the end a forecast for the development of the economy of Bulgaria is given based on analysis of empirical information.
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Banks’ financial statements are the main source of information for a wide range of users (investors, regulatory authorities, etc.). A qualitative analysis of the information contained in the elements of financial statements is a prerequisite for making justified and constructive decisions. This paper presents a research that aims to assess the significance of information relationships among the elements of the financial statements of banks as a starting point for analysing their financial position. The research thesis is that the relationships and dependencies among financial statement elements should be used as a basis for structuring the indicators and models for analysis of banking activity in order to obtain qualitative analytical information that would help the users of these financial statements (including bank managers and supervisory bodies) make informed economic decisions. To prove this thesis, the following hypothesis was formulated and empirically tested: financial statement elements reflect different aspects of the economic processes taking place in banks and therefore there is an interdependence among the positions (items) of the financial statements. The correlation of certain financial statement positions was identified and measured by means of regression and correlation analyses of the data from the financial statements of Bulgarian banks published on the official website of the Bulgarian National Bank. The relationships were determined using a univariate linear regression analysis while the covariance was measured using the Pearson correlation coefficient. The research covers twenty-five banking institutions (including branches of foreign banks) operating on the territory of our country. The results of the research determine the relationships and correlations among certain positions of the financial statements of these banks and empirically confirm the formulated hypothesis, which in turn corroborates the main research thesis.
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In this paper, the effects the implemented Basel standards have had on the resilience of the banking system and banks’ behaviour during the period of the COVID-19 pandemic have been evaluated. The measures taken by the Bank for International Settlements to limit the negative impact of the COVID-19 pandemic on banks have been examined. The Bank for International Settlements’ response to economic crises has been studied.
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The innovation capabilities of companies are affected by numerous factors that can act as both drivers and blockers. The research presents the state of innovation activities of companies in the Southeastern and Southwestern regions of Bulgaria. The main goal is to analyze some factors influencing their innovation potential and activity, and on this basis, to formulate specific conclusions and recommendations. The work uses data from a survey conducted with 151 companies from both regions. The results show insufficient innovation activity of companies in both regions, especially in the southeastern region.
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The past three years proved to be an exceptional challenge for the development of tourism in Bulgaria. The years-long problems in the sector combined with the new global situation forced all countries involved in this economic field to realize the need to take active measures to reposition Bulgaria’s tourism product. One of the possibilities for differentiating the portfolio of tourist destination Bulgaria is through the development and promotion of local destinations for wine tourism. The present study aims to characterize the possibilities for wine tourism destinations’ development in support of the repositioning of Bulgaria’s tourism product. The research object is the local wine destinations, and the subject – their importance in the repositioning of the national tourism product.
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