The effects of foreign direct investments and remittances on economic development in Bulgaria

The globalization of economic relations gives rise to expansion of companies and acquisition of share capital, being the foundation of foreign direct investments (FDI). In conditions of globalization, the labor is relocated to countries, with available good industrial facilities, comparatively higher living standard and good remuneration. The remittances are a financial flow, moving in the opposite direction of the labor force, i. e. from the industrially developed countries to the developing countries. The aim of this article is to explore some aspects of the impact of FDI and remittances by the Bulgarian labor migration on the economy and on the general welfare of the population. The first part analyzes the FDI growth and their impact on the diversity of the business milieu. The second part deals with some aspects of the Bulgarian emigration and the importance of the remittances to overcome the impoverishment of the Bulgarian population as a result of the economic and political disruption, suffered by Bulgaria in the course of the last 20 years of transition to market economy.