A large number of Bulgarian seaside hotels could face bankruptcy already this year, the head of Bulgaria’s Tourism Agency Anelia Krushkova said.Low prices have made Bulgaria an attractive destination in the past decade, with German, Russian and Scandinavian tourists being the most numerous.But the rising number of tourists sparked a construction boom all over Bulgaria’s Black Sea coast, to the extent that supply now far outweighs demand.Although Bulgarian hotel owners have lowered prices for foreign tourists, they are still to do so for local residents and could fail to attract enough revenue to pay off the bank loans used to build most hotels, Krushkova forecast.The ongoing construction, which goes on even during the tourist season, has turned away some foreigners, the agency’s data shows.After years of solid growth, the number of foreign tourists has fallen by 0,37% in the first five months of the year, compared to January-May 2006. Even so, revenue from foreign tourists grew by 16% compared to the same period of last year, reaching EUR 532 M.But the cramped conditions and the interminable construction is driving away even Bulgarian tourists, who spent EUR 497 M in the first five months of the year on vacations abroad.