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  The Impact of Short-Term Rentals on Long-Term Rental Rates in Bulgaria

  The shortage of housing for the local population, the lack of financial resources for the construction of municipal housing, and the overtourism experienced by some of Western Europe’s leading tourist destinations due to the enormous number of visitors have brought to the forefront the debate on the benefits and negative effects of short-term ... The shortage of housing for the local population, the lack of financial resources for the construction of municipal housing, and the overtourism experienced by some of Western Europe’s leading tourist destinations due to the enormous number of visitors have brought to the forefront the debate on the benefits and negative effects of short-term rentals, as well as the need to examine and substantiate the potential introduction of restrictions. In Bulgaria, an increase in tourist numbers is still generally regarded as a positive development. However, the time may not be far off when a significant share of society begins to perceive tourism growth as adversely affecting its quality of life and residential comfort. This may necessitate not only the introduction of clear regulations but also legislative amendments establishing certain restrictions. The study provides compelling evidence supporting the introduction of restrictive measures in some European cities, such as Vienna, Milan, and Amsterdam. For Bulgaria, however, the results of the empirical analysis are less conclusive. A very strong positive correlation was identified between the number of short-term rental listings and median long-term rental prices in the six most developed real estate markets in Bulgaria: Burgas, Varna, Plovdiv, Ruse, Sofia, and Stara Zagora. However, no inverse relationship was identified between the number of short-term and long-term rental listings. Therefore, it cannot be concluded that a higher number of short-term rental listings leads to a reduction in the supply of long-term rental properties that could, in turn, be considered a factor contributing to higher rental prices. Seasonality was observed in the number of rental listings; however, this pattern, as well as the differences in median asking rents across cities, can reasonably be attributed to the specific characteristics of the respective destinations. At present, an appropriate approach would be to combine an effective registration regime with enhanced monitoring and enforcement of income tax compliance in relation to rental income.

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  The Governance of Critical Infrastructure in Europe: Anticipation and Public Administration Strategies for Emerging Security Threats

  This article develops an anticipatory governance framework for protecting critical infrastructure from emerging security threats. A literature review and comparative case studies identify governance practices that strengthen public administration through foresight, coordination, institutional learning, and adaptive risk governance.... This article develops an anticipatory governance framework for protecting critical infrastructure from emerging security threats. A literature review and comparative case studies identify governance practices that strengthen public administration through foresight, coordination, institutional learning, and adaptive risk governance.

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  Thermonuclear Fusion – the Future of Global Energy

  Fusion is a physical process in which light atomic nuclei combine to form heavier nuclei, releasing significant amounts of energy. In the face of ever-increasing global energy consumption, depletion of fossil fuel reserves, and the growing need to limit carbon emissions, fusion is increasingly seen as one of the most promising options for the ... Fusion is a physical process in which light atomic nuclei combine to form heavier nuclei, releasing significant amounts of energy. In the face of ever-increasing global energy consumption, depletion of fossil fuel reserves, and the growing need to limit carbon emissions, fusion is increasingly seen as one of the most promising options for the future development of the global energy sector. Despite a well-established theoretical understanding of the process, the practical implementation of controlled fusion remains an extremely complex scientific and technological problem. The purpose of this article is to examine the principles of fusion, to review modern approaches and large-scale experimental projects aimed at its implementation, as well as to make an economic justification for investments and to analyze the main challenges for its future development as a sustainable energy source.