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Colliers International Southeast Europe

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Bulgaria’s Varna Emerging as Prime Destination for International Businesses


Thriving coastal resort has young, highly-educated workforce

Sofia, Bulgaria, October 04, 2008 --(PR.com)-- Bulgaria’s second city, Varna, is emerging as a prime destination for international businesses to locate. That’s according to Colliers International, the global property consultants, who have a special office in the city. They say the thriving coastal resort has more competitive costs than the capital Sofia, excellent transport infrastructure, and its highly-educated young workforce makes it a particularly attractive location for research, technology and call centers.

Colliers International cite ten reasons why international businesses are increasingly considering Varna as place to locate:

1) It has a young and highly educated workforce, thanks to the city's excellent higher education, including the University of Economics, Medical University, Technical University, Varna Free University and four Bulgarian Academy of Sciences research institutes
2) It enjoys significantly lower business costs than the capital, Sofia
3) It is a significant business location in its own right with its own flourishing office and retail markets
4) It has an extensive public transport network
5) There are excellent flight connections from Varna to many major European cities
6) It enjoys excellent communication links, being the eastern-most end of European transport corridor 8
7) It already is a center for manufacturing and logistics (eg Logistics Park Varna)
8) With millions of visitors every year (nearly 5 million), it already has an advanced service sector
9) It enjoys proximity to leading resorts like Golden Sands and thus is a great lifestyle option (named "Europe's new funky town" by the UK's Independent)
10) It has a rich cultural and architectural heritage and super leisure opportunities (was named Best City in Bulgaria to live in, 2007)

For these reasons, it presents an excellent opportunity for international companies wishing to outsource, as a location for research and technology (eg IT, bio-tech, high-tech manufacturing) and for call centers. "Varna has all the elements of a successful outsourcing destination", says Managing Director, Atanas S. Garov, Colliers International in Bulgaria. "We believe that in the near future, more international companies will recognize the business opportunities offered by the city and the surrounding region."

Colliers International is a worldwide affiliation of independently owned and operated companies with more than 290 offices in over 60 countries. Worldwide Colliers manages 80 million m2 and has 11,000 highly qualified professionals. The company has been active in Bulgaria since 1991 and has become the unquestionable market leader in providing comprehensive real estate services. Currently Colliers Bulgaria represents some of the most innovative and professionally planned projects in all segments of the real estate industry, including offices and business parks, retail, logistics and industrial, residential and holiday homes.

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Contact Information
Colliers International Southeast Europe
Christen Thomson
+ (385) 99 218 7603
Contact
www.colliers.com

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