Nearly 43% of Bulgaria's economy is already in Sofia, dramatically outstripping the economies of other major cities - it is 5 times larger than that of Plovdiv and seven times larger than that of Varna. This became known from the words of Petar Ganev from the Institute for Market Economy at a press conference in Sofia Municipality, where the latest data on the economic and investment profile of Sofia for 2022 were presented. The data are from the annual analysis that the institute prepares for the Agency for investments of Sofia.
Nearly 43% of Bulgaria's economy is already in Sofia, dramatically outstripping the economies of other major cities - it is 5 times larger than that of Plovdiv and seven times larger than that of Varna.
This became known from the words of Petar Ganev from the Institute for Market Economy at a press conference in Sofia Municipality, where the latest data on the economic and investment profile of Sofia for 2022 were presented. The data are from the annual analysis that the institute prepares for the Agency for investments of Sofia.
The role of Sofia's economy as a share of the country's economy has grown over the last 20 years - from 2000, we start from 25.6% and with different amplitudes it increases to 42.8%, with 19.5% of the population living in the capital the country, Ganev said.
IPI: Sofia's economy is nearly 43% of Bulgaria's economy
According to the latest data of the National Statistical Institute, the gross domestic product (GDP) of Sofia in 2021 is BGN 59,172,000,000. The greatest growth was recorded in the service sector, which is also the leader of Sofia's economy, Ganev said.
Almost half of the added value in services throughout the country is created in Sofia, and this is also the most dynamic sector.
In industry, this share is smaller - 1/4 of the entire economy.
The leading sectors in Sofia's economy are trade - 20%, and information technology - 17% of production.
Energy is another sector contributing to the development of the economy in the capital.
The gross added value (GVA) of enterprises in Sofia will reach nearly BGN 33 billion in 2021. The share of GVA in the capital is nearly half of that of the entire country.
The net revenues from sales of the non-financial enterprises of Sofia for 2021 amount to BGN 170,653 million.
at BGN 129,886 in 2017.
Of the foreign direct investments of 28.2 billion euros accumulated in the country by the end of 2021, 14.7 billion euros are in Sofia.
It is interesting that in trade, digital sector, professional services, in real estate operations, there is more foreign capital in Sofia than in the rest of the country.
All foreign capital in information technology is in Sofia, Ganev pointed out.
The IPI analysis shows a gradual recovery of tourism in the capital after 2020, when the covid pandemic was announced.
According to the data, in 2019, about 2 million overnight stays were registered, in 2020 – under 800,000 overnight stays, in 2021 – 1.2 million overnight stays and by December of last year – 1.9 million overnight stays, suggests that their total number will exceed that of the year before the pandemic.
Demographic data on the number of the population in Sofia are also represented in the analysis of the IPI.
Adrian Nikolov from the institute pointed out that the total number of residents of the capital is decreasing - from 1,291,591 people in 2021 to 1,274,290 million people in 2022. He reminded that the decline in their number applies to the entire country.
Against the background of the rest of the country, the predominant age group in the capital is between 20 and 30 years old.
They study or work in Sofia.
Nikolov also pointed out that in view of the permanent tendency of the population in Bulgaria to age, the rate in Sofia is lower.
According to him, people of working age in the capital have decreased by 92 thousand people.
Regarding the labor market, he stated that there is a rapid decline in unemployment, with the busiest sector in its recovery being trade.
Regarding remuneration for work, he pointed out that there is greater inequality in Sofia.
The highest average salary is in the field of information technologies - BGN 4,046, and the lowest in the hotel and restaurant industry - BGN 1,027.