Foreign business in Bulgaria: Israel [exclusive data]

Guest-author: Людмил Стойчев

CBN Pannoff, Stoytcheff & Co., independent market and business research agency

In the report, we present results for Israeli business* – one of the 12 largest investor business communities in Bulgaria.

CBN Pannoff, Stoytcheff & Co.’s three-year independent survey of businesses in Bulgaria (23,000 respondents with operating income of more than $1 million; total of 1.2 million jobs and BGN 343.4 billion in operating income) found more than 3,000 majority-owned companies of legal or natural persons from a total of 78 countries.

In which industries do Israeli businesses operate in Bulgaria?

Israeli companies are present in 10 of the 18 industries in Bulgaria (CBN benchmark based on EC - NACE Rev. II).

The top 3 industries dominated by Israeli investor interest in the country are:

1. INFORMATION AND COMMUNICATION
2. WHOLESALE AND RETAIL TRADE
3. REAL ESTATE ACTIVITIES

Israeli investors in Bulgaria are one of the three leading nations (together with the US and the UK) whose representatives have the greatest interest in the IT sector in Bulgaria.

What is the geographical distribution of Israeli companies in Bulgaria?

Israeli businesses are present in 11 out of 28 districts in the country.

The three districts with the largest presence of Israeli employers are:

• Sofia-city
• Plovdiv
• Varna

What is the share and profile of Israeli business in Bulgaria?

Israeli employers hold 2.2% of all jobs in the FI segment.

The total operating income of Israeli companies in Bulgaria to the country’s GDP for the period studied was 1.5% and ranks the country in the top 15 out of 78 countries on this indicator.

Service sales accounted for the largest share of operating income, accounting for 2.9% of all service sales in the foreign investor segment.

Israeli investors are represented in the country with over 50 companies in the small and medium business segment.

Israeli employers account for 2.9% of all wages paid by foreign investors and 2.4% of all social and health insurance contributions.

* The study includes results for 20 countries with legal entities and individuals from the respective country with a registered business in Bulgaria with revenue over USD1.0M for fiscal year 2021: Austria, Belgium, Czech Republic, France, Germany, Greece, Israel, Italy, Netherlands, Romania, Switzerland, Russia, Turkey, Ukraine, UK, USA.

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