Bulgaria's Petrich Said to Be Big Winner from Greek Firms' Exodus

Business | June 2, 2012, Saturday // 16:00|  views

An increasing number of Greek firms are migrating to the southwestern Bulgarian town of Petrich in order to seek a more stable financial environment, a report says.

The small Bulgarian town with a population of 20 000 located near the Greek border is said to be among the big winners from the businesses' exodus from crisis-plagued Greece, writes greekreporter.com, as cited by BTA.

The report quotes Dionisis Papadatos, an owner of a restaurant in downtown Petrich, as saying that the financial crisis forced him to emigrate.

"Greeks don't just want to go to Bulgaria. They want to run away from Greece in general," he says.

Another Greek business owner, Yorgos Konstantopulos, states that his firm, which employs 50 people, has moved from Thessaloniki to Petrich.

The report points out that Bulgaria seems as a better choice for business because of its low taxes, lower wages, and greater financial stability.

According to Hristo Batev, deputy mayor of Petrich, there are already about 100 Greek firms that migrated to the town.

A growing number of Greeks are also said to be traveling regularly to Bulgaria on shopping trips.

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Tags: Greek, greece, Greeks, Greek companies, Greek investors, Petrich, southwestern Bulgaria, financial stability


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