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Bulgaria Hospitality Industry Outlook 2024 - 2028

See how Bulgaria Hospitality performed compared to key markets such as Germany, Spain and France.

Key Market Indicators

**Bulgarian Accommodation Services Revenue Expected to Hit €1.6 Billion by 2028** Sofia, Bulgaria – The Bulgarian accommodation services sector is projected to generate €1.6 billion in revenue by 2028, up from €1.3 billion in 2023. This represents a compound annual growth rate (CAGR) of 2.8%. Since 2010, the market has experienced a year-on-year growth of 3.5%. In 2023, Bulgaria ranked 23rd in the European market, with Cyprus surpassing it, also recording €1.3 billion. Spain, France, and the United Kingdom held the 2nd, 3rd, and 4th positions, respectively. **Increase in Accommodation Establishments** The number of accommodation establishments in Bulgaria is forecasted to reach 69,130 bedplaces by 2028, up from 59,080 bedplaces in 2023. This indicates an average annual growth rate of 2.5%. Since 1995, the country's supply of bedplaces has increased by 3.9% annually. In 2023, Bulgaria was positioned 21st, with Denmark surpassing it at 59,080 bedplaces. Spain, France, and Germany occupied the 2nd, 3rd, and 4th spots in this category. **Accommodation Expenditure to Rise** Bulgarian accommodation expenditure is anticipated to grow to €1.1 billion by 2028 from €960 million in 2023, marking an average annual increase of 2.5%. Since 2000, the demand has grown by 1.6% year on year. In the 2023 rankings, Bulgaria stood at 21st place, with Hungary leading at €960 million. Italy, France, and Germany were ranked 2nd, 3rd, and 4th, respectively.

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Bulgaria Hospitality Market Data and Forecasts