More managers of accommodation businesses in Bulgaria report rise in revenue in May - stats office

More managers of accommodation businesses in Bulgaria report rise in revenue in May - stats office

As many as 31.8% of the managers of accommodation businesses in Bulgaria reported a rise in revenue on a monthly comparison basis in May - an increase of around 16 percentage points (pp) over April, the statistical office said.

In May, less than 20% of surveyed managers reported a drop in revenue, down by over 10 pp compared with April, the National Statistical Institute (NSI) said in a statement on Friday, citing the results of a monthly survey among managers of hotels, campsites and other accomodation establishments.

About 50% of respondents reported no change in revenue in May, similar to the percentage in April.

In June, 44.6% of respondents plan to cover up to half of the cost of their business operations from their own funds, while 35.8% expect to cover those costs in full. As many as 19.4% of managers foresee a need for outside financing.

The majority, 62.3%, plan to continue their current activity, while 2.9% plan to halt operations.

The survey was conducted during June 4-24 among managers of 2453 accommodation establishments.

 

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