Expert highlights prospects for Bulgarian Black Sea port
"A growing number of investors have been flocking to the Bulgarian port of Varna to take advantage of the city's considerable prospects for the future, according to one analyst.
Andrew MacDowall, editorial manager of the Oxford Business Group, claimed that the Black Sea port is attracting interest from investors because of its unique status as a "transport nexus" for the region and its importance as a trade route.
The construction of a major shopping mall, the prevalence of foreign tourists and the fact that budget airlines are said to be "eyeing" the destination" is proof of the area's attractiveness, he said.
Quoted in the Sofia Echo, Mr MacDowall explained that the development of property for tourists in the city has become so rapid that the mayor has banned new buildings "in fear of overdevelopment".
However, this might not be bad news for investors in the region. "This may indicate a shift towards middle-to-top-end tourist development that is being seen nationwide," he explained.
Varna is the home of the Bulgarian Navy and is one of the largest cities in Bulgaria."
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