Travel intermediaries have been among the hardest hit by the COVID-19 pandemic in 2020. Despite the significant efforts made around the world to bring the pandemic under control and prevent the total collapse of the summer holiday season, 2020 has in many ways been a lost year for travel intermediaries.
In late spring 2020, the Bulgarian tourism minister joined other EU tourism ministers in supporting the proposed creation of a European Travel Compensation Fund. This is aimed at alleviating the impact of the COVID-19 pandemic on travel and tourism and helping tour operators and other affected businesses deal with the financial challenges, seeking to avoid mass bankruptcies and also protect consumers’ rights.
Travel intermediaries are expected to record a sharp return to positive value growth at constant 2020 prices in 2021. However, overall sales are not expected to fully return to 2019 levels during the forecast period.
While intermediaries online sales is expected to grow more quickly than offline sales during the forecast period, the latter is set to remain larger in retail value terms at constant 2020 prices. This is despite the fact that Bulgaria generally has excellent broadband and mobile internet connectivity, with the vast majority of the population connected and active online.
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Understand the latest market trends and future growth opportunities for the Travel Retail industry in Bulgaria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Travel Retail industry in Bulgaria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Travel Retail research and analysis database.
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