Western Union offers its services in all European countries, shortening the distance between people and establishing itself as a leading leader in money transfers on the continent, and not only.
Where are the Bulgarians today?
According to the latest data, almost 2 million Bulgarians (registered and unregistered) live outside Bulgaria, most of them driven by financial reasons, lack of jobs, quality of life, education and more.
Some friends, loved ones and relatives have scattered around the world in search of a better life, with the largest percentage of Bulgarians choosing to stay on the continent but live in more developed countries than Bulgaria. Germany, Belgium, the Netherlands and the UK are among the most favored of our compatriots, followed closely by warm countries such as Italy, Spain and our southern neighbor Greece.
In these countries, Bulgarian societies keep on growing - in the last 10 years alone, the number of people who have chosen to work and live in another EU country has doubled.
The quality of remittances is one of the main priorities of every emigrant. We at Western Union are aware of the responsibility of our mission and are always serious about our services. Our main goal is customer satisfaction and successful transfer.
From Bulgaria to Europe or from Europe to Bulgaria?
The young people who choose to continue their education abroad expect monthly financial support from their parents and relatives in Bulgaria. The much higher standard of living, the exchange rate and university fees are unbearable for young Bulgarians. On the other hand, those who go to work most often do so in order to send money to their family here. This hypothesis is much more common and its scope is many times larger.
According to the World Bank, for the year 2018, by means of remittances (without taking into account the money transferred), the Bulgarian economy contributed EUR 2.13 billion, which is almost 9% more than the previous year. The European countries from which the most money comes from our country are Spain and Germany.
This data puts us at the forefront of the EU in a not-so-pleasant statistic, namely that as much as 3.8% of our GDP is from immigrant money. According to economists, this trend will continue and the remittances from Europe to Bulgaria will not stop rising. For comparison, the funds sent here by workers working abroad are only about 200 million euros.
What is this money for?
The main purpose of the money of the Bulgarian emigrants is to cover the current needs of their relatives in Bulgaria - food, clothing, bills and so on, use of better health services and repayment of loans. Major investments include buying real estate as a real form of saving and starting a small business. The cities in Northwestern Bulgaria, Shumen and Sliven hold the record for the most emigrants, and the people who stayed there rely almost entirely on them for their livelihood and development.
Choosing a place to live and work is strictly individual, but Western Union services are on hand to facilitate your new venture. We offer you the security and transparency of your money transfers.