Sofia remains the largest regional economy in the country with about 40% of Bulgaria's gross domestic product
Sofia remains the largest regional economy in the country with about 40% of Bulgaria's gross domestic product. This states the new report "Economic and Investment Profile of Sofia - 2019" of the Municipal Investment Agency.
Sofia's economy is also characterized by considerably higher than the national average investment activity. According to the latest data, about 40% of the cost of tangible fixed assets and half of foreign direct investments are made in the capital. By the end of 2018, the capital had attracted
EUR 13 billion in foreign investment, or about EUR 9 800 per capita, which is nearly three times the national average.
The bulk of the investment in Sofia is directed towards services, which are also the sectors with the greatest contribution to the added value of the local economy - 37% of all FDI by 2018 have flowed into it. The major part of the investments in Sofia are directed towards services, which are also the sector with the largest contribution to the local economy added value - 37% of all FDI by 2018 have flowed therein. This is due both to the higher incomes and consumption in the capital, and to the fact that the city is a developed transport and logistics hub. The other most attractive sectors for foreign investment in the capital are industry and utilities, real estate, IT and outsourcing industries.
Sofia is also characterized by good absorption of European funds, which is a major source of public investment. By the end of June 2019, the capital had absorbed EUR 4.2 billion.
The new report "Economic and Investment Profile of Sofia - 2019" is available for download. The fourth consecutive edition of the annual report contains data and analysis of the leading industries, the sectors, which have attracted the most investments, the development of infrastructure in the city, local taxes and the conditions for doing business, where is Sofia compared to other investment destinations in the region and what are the prospects for economic development and increased investment in the capital.
More information can be found here: https://investsofia.com/izteglete-noviya-ni-godishen-doklad-ikonomicheski-i-investicionen-profil-na-sofiya/