Market Research in Bulgaria
Bulgaria is a great state that has it all.
It lies on the Black Sea, and it has a mountainous interior with many rivers. It is a lovely place to visit if you’re seeking good quality at low prices. Its rich history, golden sand beaches, and breathtaking views are like magnets. People continue to head for Bulgaria every year.
The country belongs to the EU and the Council of Europe, and it has also sat on the UN Security Council three times. It is also known as the Silicon Valley of the Eastern Bloc. Companies like Apple, Google, and Facebook have offices and headquarters there.
Sofia is the biggest city and is also the capital. This city holds some of the country’s best attractions, such as the Saint Sofia Church and its underground museum. Sofia is also home to the National History Museum. Famous gold treasures of the world and so much more are on display at this museum.
Another key point about this city is that it lies at the foot of Vitosha Mountain. Vitosha is a hotspot for hiking and skiing enthusiasts.
Yet another great thing about Sofia is that the nightlife is exciting and not very costly.
Plovdiv is another well-known and ancient city in the south. It has always drawn visitors because of its wide range of things to do.
The industry sector is the second largest after services. The country’s primary income sources are mining, metallurgy, and machine building. It also earns money from energy, agriculture, and tourism. Bulgaria has a free market economy.
This country is also among Europe’s largest producers of lead, zinc, and copper. In addition, it produces much of the world’s hydraulic machinery.
The country puts a lot of effort into the construction, mining, services, and agriculture sectors. The recent downturn in the global economy ended a period of tremendous economic growth for Bulgaria.
The country has a well-educated workforce. Despite its figures, it remains one of the poorest countries in the EU. Although the country is poor, it has quite a few millionaires. So, the economy isn’t as dismal as it may seem. In fact, it has great potential for growth. Still, Bulgaria has the lowest average salary in the EU, with many people earning as little as $2 per hour.
Many multinational companies have an interest in doing business with Bulgaria. Such a development would be good news for the country, as it will increase the spending power of the consumer base.
At present, Bulgarians spend a large portion of their money on food and entertainment. Of course, they also take care of their essential needs.
Reasons to Start a Business in Bulgaria
Large companies are branching out to other countries. Most are turning their eyes to Bulgaria. Why? Because it has great people who can do the job as well as any Western employee for a fraction of the cost. Apart from the low salaries, the country also has a low tax rate and free access to the European markets.
About Market Research in Bulgaria
It can be challenging to build your own business, but it has many benefits. Our company offers Qualitative, Quantitative, and Strategy Research to all businesses. We have Focus Groups to look at the feasibility of your product or service. We also do Surveys and Interviews. Feel free to contact us.