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The Road from Varna to Sofia

More evidence that the population of Bulgaria is shifting into the big cities was the road from Varna to Sofia...

.. it was empty, except for traffic travelling from Varna to Sofia!





Work is being carried out to widen this key trunk route - but it still has the feel of small scale investment vs the huge motorway program being carried out in Romania (to link Constanta to Hungary).


Whilst passing through the country it is worth noting that
25% of the working population in Bulgaria is involved in agriculture - but this delivers just 7% of GDP.

There is a also a large unemployment in rural areas and it is reasonable to assume that many of them would be involved in subsistence farming of some sort.

This explains why the average wage in agriculature (outside of subsistence farming) is just 130 Euros per month vs 424 in financial services (ie bank tellers).



Cheers
Neil

PS. Anecdotal evidence is that Sofia's wages are 30% higher than the country average. I think this is more like Sofia's wages are 30% higher than other major towns and cities (with the exception of Varna) but that the countryside consists mainly of subsistence farming.

PPS. The region that the Varna to Sofia road passes through is also a high unemployment region - with the exception of Gabrovo - which has a small but healthy mountain tourism

PPPS. The northern plain (ie road from Varna to Sofia) is principally a wheat growing area. However, with lack of rain and high heat this summery, the wheat crop might be down 50%. This could easily drive more small farmers into the cities.
POSTED BY NEIL LEWIS ON WED 8TH AUGUST AT 06:55 GMT
TAGS: Varna Property, Sofia Property, Property Investment, Bulgaria Property
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Neil LewisNeil Lewis, CEO and founder of Property Secrets, is an experienced property investor in his own right and author of two highly successful property investment books, Buy To Let Secrets and Property Developer Secrets.

Neil owns property in the UK, Spain, Poland, Romania and the Czech and Slovak Republics. He is a regular columnist for Property Week magazine and has been quoted in a number of UK and European broadsheet newspapers and magazines.

A regular speaker at property investment events, Neil has appeared at CEPIF in Warsaw and the Property Investor Show and the Homebuyer Show, both in London.

His business background is from publishing to a wide range of industries such as Finance, Music, Travel, Economics and Politics before setting up Property Secrets seven years ago. Neil studied Philosophy and speaks German, Spanish and a lot of English.


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