Where economy and tourism get on well with smart city ideas Varna is the third largest city in Bulgaria, with an area of 205 sq. km. Its situation on the Northern shore of the Black Sea, along with its richness in natural resources make it one of the famous resorts Europewide, definitely the largest one in the Black Sea region. It also happens to be on the crossroads between Western Europe and the Middle East. The climate in the area and its other natural conditions are favourable for the development of industry, trade, tourism and communications. Varna is an ideal place for investors with business interests in the Balkan region. Varna is a major tourist destination, a business and university centre, seaport, and headquarters of the Bulgarian Navy at the same time. The city is thus both a shipyard and port for incoming freighters and the navy as well as a Riviera town popular with tourists of all nationalities because of its Baroque historic centre, the turn-of-the-century and contemporary architecture, the shady promenades and seaside gardens. Every year Varna hosts numerous prestigious cultural events. Varna is awarded to be the European Youth Capital 2017.
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