Razlog is the larger town five kilometres north of Bansko, sitting in the wider Razlog Valley between the Pirin, Rila and Rhodope mountains. Most visitors skip it in favour of Bansko's prettier old town, but it is worth a half-day for the weekly market, the small ski area at Pirin Golf and the cluster of mineral spas around it, and — if you happen to be in Bulgaria on 1 January — the famous Razlog kukeri parade.
The kukeri are masked, fur-clad figures who tour the town centre on New Year's Day to drive out evil spirits — a pagan ritual that long predates Christianity and is still taken seriously in Razlog and a handful of other Bulgarian towns. If you are in Bansko on New Year's Day, the early bus to Razlog is the easiest way to see it.