The city is huge economic factor in Bulgaria, as the World Bank adviced in 2017 “If you want to do business go to Varna”. It is one of the booming and fastest developing cities.
For many years, Varna was voted as the “Best City in Bulgaria to Live In” according to various parameters including demographic growth, architecture, internet access in public places, kindergartens, education, environment, days of sunshine, and so on. Varna is a university city and 40% of the students who come to study in Varna eventually settle there. Not long ago, the number of residents was 300,000 and it is now estimated to be 500,000.
As the average wage in Varna is among the highest in Bulgaria and the unemployment rate is one of the lowest, thus the city is a magnet for domestic and international migration.