site.btaParliament Approves at First Reading Creation of Tourism Guarantee Fund

Parliament on Wednesday approved at first reading amendments to the Tourism Act providing for the establishment of a Tourism Guarantee Fund. The bill, submitted by MPs from BSP – United Left, GERB-UDF, and There Is Such a People, was backed by 110 lawmakers, with 14 voting against and 57 abstaining.

Under the proposed changes, tour operators entered in the Tourism Act register will be required to provide insolvency guarantees not only through the currently mandatory Tour Operator Liability insurance, but also through bank guarantees and participation in financing the Tourism Guarantee Fund.

The draft legislation aims to improve consumer protection in cases of tour operator insolvency and to harmonize Bulgarian legislation with the EU directive on package travel and linked travel arrangements.