Balkantourist () is the oldest existing

Bulgaria Bulgaria, officially the Republic of Bulgaria, is a country in Southeast Europe. It is situated on the eastern portion of the Balkans directly south of the Danube river and west of the Black Sea. Bulgaria is bordered by Greece and Turkey t ...

n tour operator, established on 6 January 1948 as a state-owned government monopoly in what was then the

People's Republic of Bulgaria The People's Republic of Bulgaria (PRB; , NRB; ) was the official name of Bulgaria when it was a socialist republic from 1946 to 1990, ruled by the Bulgarian Communist Party (BCP; ) together with its coalition partner, the Bulgarian Agraria ...

Privatised Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation wh ...

in 1995, it has continued to exist in the post-1989 conditions of

market economy A market economy is an economic system in which the decisions regarding investment, production, and distribution to the consumers are guided by the price signals created by the forces of supply and demand. The major characteristic of a mark ...

. Balkantourist was founded as a self-supporting enterprise, part of the Ministry of Railways, during the government of Georgi Dimitrov. With a starting capital of 300 million leva, its initial service was to compensate

Czechoslovakia Czechoslovakia ( ; Czech language, Czech and , ''Česko-Slovensko'') was a landlocked country in Central Europe, created in 1918, when it declared its independence from Austria-Hungary. In 1938, after the Munich Agreement, the Sudetenland beca ...

's enterprises in Bulgaria that were nationalized after the Bulgarian coup d'état of 1944 by offering holidays on the Bulgarian Black Sea Coast to Czechoslovakian citizens. As the war reparations imposed on Bulgaria after

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

made the country unable to compensate Czechoslovakia financially, Czechoslovakian leader

Klement Gottwald Klement Gottwald (; 23 November 1896 – 14 March 1953) was a Czech communist politician, who was the leader of the Communist Party of Czechoslovakia from 1929 until his death in 1953 – titled as general secretary until 1945 and as chairman f ...

suggested the idea. In the following decades, Balkantourist gradually expanded its business to include mountain and cultural tourism in Bulgaria, as well as servicing tourists from other countries of the

Eastern Bloc The Eastern Bloc, also known as the Communist Bloc (Combloc), the Socialist Bloc, the Workers Bloc, and the Soviet Bloc, was an unofficial coalition of communist states of Central and Eastern Europe, Asia, Africa, and Latin America that were a ...

besides Czechoslovakia: the

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

East Germany East Germany, officially known as the German Democratic Republic (GDR), was a country in Central Europe from Foundation of East Germany, its formation on 7 October 1949 until German reunification, its reunification with West Germany (FRG) on ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

Hungary Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and ...

Romania Romania is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern and Southeast Europe. It borders Ukraine to the north and east, Hungary to the west, Serbia to the southwest, Bulgaria to the south, Moldova to ...

. Balkantourist played a major role in the establishment of planned

seaside resort A seaside resort is a city, resort town, town, village, or hotel that serves as a Resort, vacation resort and is located on a coast. Sometimes the concept includes an aspect of an official accreditation based on the satisfaction of certain requi ...

s such as Golden Sands and Sunny Beach, and Bulgaria's policy of international tourism as a profitable branch inspired other socialist countries such as

Yugoslavia , common_name = Yugoslavia , life_span = 1918–19921941–1945: World War II in Yugoslavia#Axis invasion and dismemberment of Yugoslavia, Axis occupation , p1 = Kingdom of SerbiaSerbia , flag_p ...

and Romania to develop their own seaside resorts. After the democratic changes in 1989, Balkantourist was privatised in 1995 by the Bulgarian Tourist Holding. As of 2008, it offers holidays in Bulgaria and in more than 35 destinations abroad. The company owns Grand Hotel Varna, the Lebed, Rubin, Delfin, Delfin Marina, Paradise Beach and International hotels on the

Black Sea The Black Sea is a marginal sea, marginal Mediterranean sea (oceanography), mediterranean sea lying between Europe and Asia, east of the Balkans, south of the East European Plain, west of the Caucasus, and north of Anatolia. It is bound ...

coast, Hotel Rila in Borovets, Arbanasi Palace and Grand Hotel Bulgaria in

Sofia Sofia is the Capital city, capital and List of cities and towns in Bulgaria, largest city of Bulgaria. It is situated in the Sofia Valley at the foot of the Vitosha mountain, in the western part of the country. The city is built west of the Is ...

References

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External links

Official website
{{Authority control Travel and holiday companies of Bulgaria Companies based in Sofia Transport companies established in 1948 Bulgarian brands Bulgarian companies established in 1948