The British newspaper Metro has named Sofia the most underrated capital in Europe, highlighting the city’s combination of relatively affordable prices, historical heritage, modern cultural life, and proximity to natural attractions.
According to the British publication, the Bulgarian capital remains significantly less popular among mass tourists than traditional destinations in Western and Southern Europe, despite its potential for short city breaks.
Metro cites the British market as one example. In 2025, approximately 343,000 travelers from the United Kingdom visited Bulgaria, whereas Spain welcomes around 18 million British tourists annually. Thus, even with growing interest, the gap between Bulgaria and one of Europe’s largest tourist destinations remains vast.
At the same time, tourism in Sofia itself is growing. According to the city’s tourism authorities, the capital welcomed more than 1 million tourists from January through September 2025, and the number of arrivals increased by approximately 10% year-over-year. Foreigners accounted for about 63% of visitors.
Metro highlights Sofia’s historic center as one of its main attractions, where monuments from different eras are concentrated within a small area.
St. Alexander Nevsky Cathedral remains one of the city’s main attractions. The British publication also draws attention to the archaeological complex of ancient Serdica, a significant portion of which can be seen right in the center of modern Sofia.
The city’s proximity to Vitosha Mountain is cited as a distinct advantage. As a result, a trip to Sofia allows visitors to combine exploring the capital with hiking trails and outdoor recreation without having to travel long distances to another region of the country.
British journalists also highlight the capital’s burgeoning cultural scene. Among the events mentioned is the A to JazZ music festival, and among the cultural venues are the Sofia City Art Gallery and other museums in the city.
Another factor contributing to the city’s appeal is the relatively low cost of food, public transportation, and entertainment compared to other European capitals. Metro considers Sofia’s affordability to be one of its advantages amid rising travel costs to the most-visited cities in Western Europe.
Overall, Bulgaria welcomed approximately 13.6 million foreign visitors in 2025, a 2.7% increase from the previous year, according to data from the country’s National Statistical Institute. More than 9.5 million tourists were registered at lodging facilities, a 5.8% increase over the year.
Thus, the British Metro’s focus on Sofia aligns with a broader trend of growing interest in Bulgaria as a destination in its own right for city tourism, rather than merely as a country of summer resorts and winter getaways.
Azerbaijan intends to increase electricity exports to neighboring countries and enter the European energy market, said the country’s president, Ilham Aliyev.
“By expanding our export capabilities to neighboring countries, we will also enter the European market. After all, we have already entered the European market with our oil and gas, but we want to enter it with electricity as well,” Aliyev said in an interview with the Azerbaijani state television channel AzTV.
According to him, the only route for supplying electricity to Europe currently runs through Georgia and Turkey, but Azerbaijan intends to expand the number of export routes. In this regard, a feasibility study for the Black Sea Energy project has already been prepared.
In addition, in November 2024, as part of COP29, Azerbaijan, Kazakhstan, and Uzbekistan signed an agreement to lay an electrical cable along the bottom of the Caspian Sea.
“Azerbaijan will establish itself as a country that generates, receives, transmits, and exports electricity,” Aliyev said.
He also noted that the capacity of solar power plants in the Nakhchivan Autonomous Republic (NAR) could reach 500 MW, and up to 1 GW in the future.
“The main issue here is export capacity. To achieve this, of course, negotiations must be held with the relevant authorities in the respective countries, and these are already underway,” the president said.
At the same time, Aliyev noted that the existing power transmission lines from the NAR to Iran and Turkey have limited capacity, which needs to be increased.
“That is, for exporting 500 megawatts—or even 1,000 megawatts—of electricity, there are currently two routes: one to Turkey and the other to Iran. But in the future, this could also include Europe,” he said.
The head of state added that Azerbaijan’s plans to export electricity are in line with the interests of the countries “surrounding us.”
“It’s just that coordination efforts here must be carried out properly, at the necessary level, and negotiations must be accelerated. I can say that negotiations on this matter are currently underway with both Turkey and Iran. It’s too early to say anything for sure,” the president said.
Only eight of the 29 European countries that have a national minimum wage raised it in their national currency between January and July 2026, according to Eurostat data.
The largest increase over the six-month period was recorded in North Macedonia—6.9%.
Next were Romania and Estonia—both at 6.8%—followed by Belgium at 5.8%, Greece at 4.5%, Luxembourg at 2.5%, France at 2.4%, and the Netherlands at 1.9%.
In the remaining 21 countries, the minimum wage in national currency remained unchanged between January 1 and July 1. This group includes, in particular, Serbia, Croatia, Slovenia, Poland, Germany, Spain, Portugal, Bulgaria, Hungary, and Ukraine.
At the same time, the absence of an increase in the nominal minimum wage effectively means a decline in its purchasing power in countries where consumer prices continued to rise during this period.
Eurostat publishes comparative data on minimum wages twice a year—as of January 1 and July 1. Changes that occur between these dates are reflected in the next semi-annual update of the statistics.
As of July 1, 2026, the minimum wage among EU countries ranged from 620 euros in Bulgaria to 2,771 euros in Luxembourg. When candidate countries are included, the lowest figure was recorded in Ukraine—169 euros.
According to Interfax-Ukraine, the relative level of gas reserves in European storage facilities has reached its lowest value on this date in recorded history.
Previously, the all-time low for storage levels at this time of year was recorded in 2021 (the pandemic impacted the industry’s capacity). However, since the start of the injection season, the 2026 trend has steadily been closing the gap with the previous record low.
The average level of gas reserves in Europe’s underground storage facilities reached 57.11% at the end of the gas day on August 1, according to data from Gas Infrastructure Europe (GIE), the association of European gas infrastructure operators. The reserve level on the same date in 2021 was slightly higher—57.28%. A day earlier, the figures were different: as of July 31, 2026, the level stood at 56.88% (higher), while as of July 31, 2021, it was 56.83% (lower).
Natural gas storage levels in Europe are a key indicator for the global gas market. The total capacity of the EU’s storage system is 109 billion cubic meters of active gas. Collectively, Europe has become the largest importer in the global LNG market. Gas Infrastructure Europe brings together operators active in the transportation and storage of natural gas, as well as LNG. The statistical database covers the operation of underground natural gas storage infrastructure since 2011, and the receipt and regasification of LNG since 2012. Gas days in the European gas industry are counted starting at 6:00 a.m. Central European Time (CET).
Renewable sources are expected to contribute to the EU’s energy balance. Since the beginning of August 2026, wind power in Europe has been meeting an average of 10% of electricity demand, according to the WindEurope association. A year ago, in August 2025, the contribution of wind power plants stood at 14%.
Europe is also actively importing liquefied natural gas (LNG). However, in August 2026, gas imports from abroad are down 7% compared to last year’s level. LNG imports in August 2026 may drop to 6.9 million metric tons.
The spot price for “next-day” delivery at the benchmark European TTF hub closed at $696 per 1,000 cubic meters on Friday, up from an average of $626 in July.
Zurich and Madrid posted the highest growth rates for luxury residential real estate prices among European cities in the first quarter of 2026, according to the international consulting firm Knight Frank.
In both cities, luxury housing prices rose by 4.8% compared to the first quarter of last year. Zurich ranked tenth in the global ranking, while Madrid ranked eleventh.
Prices rose by 4.2% in Geneva, 3.4% in Lisbon, 3.2% in Frankfurt, and 2.9% in Berlin.
Prestige real estate prices rose by 2.5% in Dublin, 2.3% in Monaco, 1.5% in Paris, 1% in Bucharest, and 0.3% in Vienna.
Price declines were recorded in Stockholm (0.7%), Milan (0.9%), and London (4%).
Knight Frank attributes the resilience of Switzerland’s markets to capital inflows, a relatively stable tax environment, and demand from affluent international buyers. Growth in Madrid and Lisbon is driven by comparatively attractive prices, the climate, and strong interest from foreign investors.
Over a five-year period, Milan emerged as the European leader, with prices for premium housing rising by 36.2%. It is followed by Madrid, with growth of approximately 29.7%, and Zurich, at 27.5%.
London was the only one of the tracked European markets where prices fell over the five-year period—by approximately 5%. Knight Frank attributes this to high transaction taxes, the abolition of a special tax regime for non-residents, and higher borrowing costs.
The European portion of the index includes Berlin, Bucharest, Dublin, Frankfurt, Geneva, Lisbon, London, Madrid, Milan, Monaco, Paris, Stockholm, Vienna, and Zurich.
Kyiv and other Ukrainian cities are not included in this study.
Jurisprudential Consulting Group, an international consulting group with Ukrainian roots, has announced the launch of a comprehensive European practice to support Ukrainian companies, entrepreneurs, and capital owners during relocation and entry into new markets, the company reported.
The new practice combines international tax planning, corporate structuring, capital legalization and proof of funds’ origin, banking compliance, financial logistics, crypto regulation, as well as legal defense in cross-border economic disputes and criminal cases.
The firm attributes the launch of this practice to the changing needs of Ukrainian businesses following a large-scale relocation. While in the initial phase entrepreneurs primarily needed company registration, a bank account, and immigration status, today the main issues concern the tax residency of owners, the place of effective management, dividend structures, the bank’s acceptance of capital, and the implications of using foreign companies from the country of actual residence.
“For Ukrainian businesses in Europe, it is no longer enough to simply open a company. It is necessary to understand in advance where management is located, where income is generated, how funds will reach the owner’s personal accounts, and what documents the bank will accept. The company, tax residency, family, assets, and future expenses must all be part of a single model,” noted Yaroslav Meretskyi, co-founder and CEO of Jurisprudential Consulting Group.
Photo. From left to right: Heorhii Voinovych, Yaroslav Meretskyi, Vladyslav Kaprytsia, partners at Jurisprudential Consulting Group
The new practice combines international tax planning, corporate structuring, capital legalization and proof of funds’ origin, banking compliance, financial logistics, crypto regulation, as well as legal defense in cross-border economic disputes and criminal cases.
The firm attributes the launch of this practice to changing demands from Ukrainian businesses following a large-scale relocation. While in the initial phase entrepreneurs primarily needed company registration, a bank account, and migration status, today the main issues concern the tax residency of owners, the place of effective management, dividend structures, the bank’s acceptance of capital, and the implications of using foreign companies from the country of actual residence.
“For Ukrainian businesses in Europe, it is no longer enough to simply open a company. You need to understand in advance where management is located, where income is generated, how money will flow into the owner’s personal accounts, and what documents the bank will accept. The company, tax residency, family, assets, and future expenses must all be part of a single model,” noted Yaroslav Meretskyi co-founder and CEO of Jurisprudential Consulting Group.
The Jurisprudential team consists of more than 50 specialists; the company conducts over 3,000 consultations annually and provides regular support to more than 200 clients. Jurisprudential notes that the new format is designed to bring together the work of tax consultants, financial advisors, corporate lawyers, compliance specialists, and attorneys across different jurisdictions around a single client strategy.
The practice is managed by its three co-founders. Yaroslav Meretskyi is responsible for strategic development, international taxation, crypto regulation, relocation, and public affairs. Heorhii Voinovych oversees financial architecture and tax modeling. His professional experience includes serving as CFO for large agricultural holdings, commodity companies, banks, and fintech projects. Vladyslav Kaprytsia is responsible for international corporate and contract law, complex transactions, risk analysis, commercial disputes, and international legal defense.
A separate practice area focuses on economic criminal cases, international fugitive searches, and coordinating defense strategies across multiple countries. The firm works with external legal teams and handles cases involving simultaneous corporate, tax, banking, and criminal law risks, including matters involving national law enforcement agencies, Interpol, and Europol.
“Financial logistics and money laundering are not the same thing. A payment can be made technically, but that does not mean its origin will stand up to scrutiny by a bank or tax authority. The market is flooded with temporary schemes: fictitious loans, formal brokerage agreements, and documents that do not correspond to any actual transaction. Usually, such solutions do not eliminate the problem but merely postpone it for two or three years,” said Meretskyi.
According to him, a loan as an instrument can be legal only if there is a real lender, a verified source of funds, commercial logic, repayment terms, and actual performance of the agreement. If the loan is not repaid, there is a risk that it will be reclassified as income. If it is repaid, legally earned and documented funds will still be required for repayment.
As part of its new practice, Jurisprudential plans to support Ukrainian businesses throughout the entire international expansion process: from selecting a country and a tax model to establishing a holding company, setting up financial infrastructure, preparing proof of capital origin, working with cryptoassets, and providing legal defense in the event of a cross-border dispute.
The company also intends to expand its partner network to include European attorneys, tax consultants, banks, payment institutions, fintech projects, and regulated crypto-asset service providers. Jurisprudential believes that such a network should reduce the number of situations where a client receives separate but conflicting recommendations in different countries.
Jurisprudential was founded in Ukraine in 2011. The group’s international expansion began in 2019, and its European expansion accelerated following the relocation of its Ukrainian operations. Its headquarters are located in Barcelona. According to the company, the group also has offices in London, Warsaw, and Tallinn and works with partners and corporate entities in other jurisdictions across Europe, the United Kingdom, Switzerland, and the UAE.
Jurisprudential Consulting Group is a member of the Association of European Attorneys and has representative offices in EU countries, the United Kingdom, and the UAE.
Background. Jurisprudential Consulting Group is an international legal and financial consulting group with Ukrainian roots. Its main areas of focus include international tax planning, tax residency, corporate structuring, capital legalization, proof of funds’ origin, banking compliance, crypto regulation, business relocation, and international legal protection. Quantitative indicators are based on the company’s internal data.
Jurisprudential Consulting Group is also developing its own educational program focused on international taxation, business relocation, banking compliance, capital structuring, crypto regulation, and doing business in Europe. The company regularly publishes analytical articles, practical case studies, and recommendations on its official website; produces educational content on Instagram and YouTube; and conducts interviews and podcasts with entrepreneurs, tax advisors, lawyers, bankers, and other experts who have successfully established themselves in the European market following relocation. This format allows Ukrainian entrepreneurs to access up-to-date practical information and promptly adapt to changes in European legislation and financial sector requirements. You can find more information on the official website https://www.jurisprudential.eu, on Instagram https://www.instagram.com/jurisprudential.eu, and on YouTube https://www.youtube.com/@jurisprudential.
