"Scientific research" Almanac

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  CURRENT STATE, PROBLEMS AND DEVELOPMENT PROSPECTS FOR ENTREPRENEURSHIP IN THE SPHERE OF TOURISM IN BULGARIA

  The entrepreneurial activity can thrive in all spheres and sectors of the economy but tourism sector is of particular importance. Entrepreneurial activity in tourism is determined by the availability of suitable conditions for the development of the tourism business. Thus, the objective of the research is to study empirically the current state of entrepreneurship in the sector of tourism in Bulgaria; to outline the existing problems and the prospects for development of entrepreneurial tourism ... The entrepreneurial activity can thrive in all spheres and sectors of the economy but tourism sector is of particular importance. Entrepreneurial activity in tourism is determined by the availability of suitable conditions for the development of the tourism business. Thus, the objective of the research is to study empirically the current state of entrepreneurship in the sector of tourism in Bulgaria; to outline the existing problems and the prospects for development of entrepreneurial tourism business, which facilitate the promotion of Bulgaria as a tourist destination with numerous natural and anthropogenic features that favour the development of different types of tourism. The main research thesis, which is being defended, is that the increase in the entrepreneurial activity in the field of tourism in Bulgaria is essential for the stability and the sustainable development of the tourism market. This offers long-term benefits to all interested parties (the entrepreneurs, the state, the tourists and the local communities). A survey questionnaire has been administered in order to collect data from hoteliers, restaurateurs and tour operators, located in the municipalities of Primorsko, Velingrad and V. Tarnovo, offering various tourism resources. All the research tasks have been achieved, namely: the specifics of entrepreneurship in the field of tourism have been highlighted, the main problems and prospects have been found, a profile of an entrepreneur in the tourism sector in the municipalities under review has been outlined.

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  RELATIONS BETWEEN GOVERNMENT DEBT AND INVESTMENT ACTIVITY, A PARALLEL ANALYSIS OF THE PROCESSES IN BULGARIA AND GREECE

  The present study aims at a parallel analysis of investment, and in particular stock exchange activity and government debt, as well as finding a dependency between the dynamics of these processes and highlighting those stock indicators, for which the relationship with the debt dynamics is of greater significance. The study is based on the thesis of presence of a strong influence with inverse dependence of the debt burden on the investment activity. We also maintain the hypothesis that the ... The present study aims at a parallel analysis of investment, and in particular stock exchange activity and government debt, as well as finding a dependency between the dynamics of these processes and highlighting those stock indicators, for which the relationship with the debt dynamics is of greater significance. The study is based on the thesis of presence of a strong influence with inverse dependence of the debt burden on the investment activity. We also maintain the hypothesis that the sensitivity of capital markets to the dynamics of government debt is stronger than that of the real-sector investments, driven by the nature of indirect investments and the rapid transfer of capital through liquid stock markets. As a theoretical basis of the survey we have set up a systemic methodology for government debt management and highlighted dependencies on key macroeconomic factors. The methodology of the survey includes a selection of the main measures for the structure and burden of government debt and specific indicators, and indicators for analyzing the investment activity. In order to investigate the dependencies between the two processes, we apply specific comparisons between debt and investment indicators, as well as correlation analysis. We analyze in parallel the debt dynamics and the investment activity in the real sector and the stock exchanges in Bulgaria and Greece for the period 2007- 2017. The results show that the activity of both stock exchanges have had a pronounced negative trend since the beginning of the global recession, which has been going on for ten years now. We have established a strong reverse relationship between the Athens Stock Exchange activity indicators and the Greek debt in its structural components. As far as Bulgarian capital market is concerned, these dependencies are less expressed. We have found arguments for a critical negative impact of the debt burden on investment activity in the real sector, expressed by the correlation between debt dynamics and direct investments in the national economy and foreign direct investments. Our hypothesis for a stronger impact of the debt burden on stock exchange transactions than on real sector investments has been confirmed.

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  MODERN DIMENSIONS OF THE MANAGEMENT OF TOURIST DESTINATION BULGARIA

  The development of tourism is related to the need to manage tourist destinations. Tourist business faces issues related to establishing tourists' preferences and identifying their motives. The solutions are related to the consumer behaviour and preferences of the tourists, the resources of the region, the attractiveness of the area, the offered complex product and the organisational precision. The objective of the research is to study empirically the state of tourist destination Bulgaria. Then, ... The development of tourism is related to the need to manage tourist destinations. Tourist business faces issues related to establishing tourists' preferences and identifying their motives. The solutions are related to the consumer behaviour and preferences of the tourists, the resources of the region, the attractiveness of the area, the offered complex product and the organisational precision. The objective of the research is to study empirically the state of tourist destination Bulgaria. Then, based on the results of this research, the authors focus on outlining the existing problems and the complex of strategic management decisions related to the possible prospects for sustainable development of Bulgaria and its establishment as a year-round tourist destination with many natural and anthropogenic features suitable for the development of different types of tourism. The tasks assigned by the authors include: highlighting the features of the tourist destination and its management; revealing the impact of tourism policy on the development of the tourist destination; assessing the state of tourist destination Bulgaria through the prism of tourists and experts from district/municipal administrations and local tourism organisations; formulating proposals to solve the problems concerning the destination through adequate management. A survey questionnaire was administered to collect data from the tourists in the administrative districts of Dobrich, Bourgas, V. Tarnovo, Gabrovo, Plovdiv and Pazardzhik. Representatives of the regional and municipal administrations and associations working on the problems of tourism on the territory of the Republic of Bulgaria were also interviewed.