Full Schengen Accession Expected to Boost Bulgaria’s Economy by €833 Million Annually
Bulgaria’s Full Schengen Accession to Boost Economy and Efficiency
A recent study conducted in early 2024 by the Institute for Economic Research (IER) at the Bulgarian Academy of Sciences (BAS), initiated by the Ministry of Economy and Industry, highlights the significant economic and societal benefits of Bulgaria’s anticipated full accession to the Schengen Area. This milestone will include land border integration, enhancing Bulgaria’s role in the EU’s passport-free travel zone.
Economic Impact: €833 Million Annually
Bulgaria is projected to gain approximately €833.3 million annually from its full Schengen accession. Major beneficiaries include:
- Heavy Road Transport: Estimated direct cost savings of €432.04 million for producers and exporters.
- Tourism Sector: Enhanced mobility and reduced border crossing times are expected to boost tourism revenues.
Reduction in Border Delays
The report emphasizes the elimination of significant delays caused by border controls at land crossings with Romania and Greece:
- Bulgarian Citizens: Eliminating controls would save an estimated 242,437 days annually.
- Romanian and Greek Citizens: Travelling to Bulgaria, they would collectively save 217,998 days annually.
Environmental Benefits
The study highlights the environmental advantages of Bulgaria’s Schengen accession:
- Reduced Carbon Emissions: The removal of border controls is expected to significantly cut emissions from idling vehicles at border checkpoints, contributing to cleaner air and lower greenhouse gas levels.
Financial Losses from Current Border Controls
Remaining outside the Schengen Area has imposed heavy financial losses on Bulgaria due to land border controls. Nikolay Rashkov, from the European Commission’s expert group on transport, previously described these losses as staggering.
Agreement Reached for Schengen Accession
Following a meeting on November 22 involving interior ministers from Bulgaria, Romania, Austria, and Hungary, an agreement was reached to finalize the Schengen accession process for Bulgaria and Romania. Romanian Prime Minister Marcel Ciolacu announced that both countries are set to join the Schengen Area fully, including land borders, on January 1, 2025.
Conclusion
Bulgaria’s full Schengen membership is expected to bring profound economic, environmental, and logistical benefits, significantly enhancing trade, tourism, and cross-border mobility. With the accession date now set, the move marks a major step forward for Bulgaria and its integration into the EU’s borderless travel zone.
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