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Attractive Investment Images in Southeastern Europe: the Case of Varna, Bulgaria

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  • Metaxas Theodore

    (Department of Planning and Regional Development, University of Thessaly, Pedion Areos, 38334 Volos, Greece)

Abstract

Attracting foreign direct investments (FDI) constitutes one of the primary aims of the regions and cities of Southeastern Europe after the fall of communist regimes in 1989. In order to satisfy this aim, cities are characterized by a plurality of efforts to create their images based on their distinctive characteristics and in this way attract investments and specialized human resources. Factors such as agglomeration economies, access to European markets, urban infrastructure, as well as qualitative ‘soft’ factors such as the quality of life and urban aesthetic, are considered as location criteria for business establishment in potential locations. The aim of the paper is to examine the attractiveness of the city of Varna as an investment destination by using primary data derived from empirical research on Varna's firms. The firms evaluate a variety of factors (urban characteristics), defining Varna's advantages as an investment destination. These advantages were then used to create the proposed ‘investment image’ of the city.

Suggested Citation

  • Metaxas Theodore, 2008. "Attractive Investment Images in Southeastern Europe: the Case of Varna, Bulgaria," South East European Journal of Economics and Business, Sciendo, vol. 3(1), pages 59-76, April.
    • Handle: RePEc:vrs:seejeb:v:3:y:2008:i:1:p:59-76:n:7
    DOI: 10.2478/v10033-008-0007-7
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    Cited by:

    1. Theodore METAXAS & Athina ECONOMOU, 2016. "Assesing The Determinantts Of Firms’ Competitiveness In Greece: A Structural Equation Modeling Analysys," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 17, pages 91-113, June.

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