Croatian Telecom Represents 3% of Croatia’s GDP

Total Croatia News

An analysis shows that Croatian Telecom is one of the most influential companies for Croatian economy and society.

Croatian Telecom (HT), in the period from 2011 to 2015, invested in Croatia 5.7 billion kuna and contributed to the creation of nearly 13 billion kuna of added value, which includes taxes, wages and profits. That makes it one of the companies in Croatia with greatest impact on the economy and society, according to an analysis made by the Institute of Economics in Zagreb, reports on September 9, 2016.

The analysis titled “Economic Atlas of HT Group” was presented to the media on Friday during a meeting with members of the HT Board of Directors. Its aim was to demonstrate the social and economic contribution of the HT Group to business and social environment. The analysis compared the ten largest companies in Croatia.

“HT Group represents more than three percent of the Croatian GDP and supports over 27,000 jobs in Croatia, since each position within the HT Group also supports another 4.4 jobs elsewhere in the economy”, said at the presentation the newly appointed director of the Institute of Economics Maruška Vizek. Among the indicators from the analysis, she pointed out that with an average net salary of 8,616 kuna, salaries at HT Group were 54 percent higher than the national average and 16 percent higher than the average in the ICT sector. “HT is the largest private investor in Croatia for the last five years, has a large multiplier effect on the entire Croatian economy, and creates the greatest value to all its stakeholders, employees, shareholders, suppliers and the state”, said Vizek.

CEO of HT Davor Tomašković noted that the analysis showed the importance of HT for the development of the overall economy, especially in the areas of jobs and investment. “We are continuing with investments crucial for further development and digitization of society, and starting from September we will offer to 180,000 broadband users internet speeds five times higher than before”, said Tomašković. He pointed out that HT in 2016, for the first time after five years, stopped the downward trends in revenues and profits and that this year it invested as much as 1.5 billion kuna.

Member of the Board of Directors for Technology Boris Drilo said that the development of broadband internet was a prerequisite for the use of other modern ICT services which brings entrepreneurs greater productivity and competitiveness. “HT has the highest availability of the 4G network on the Croatian territory and is the only company offering speeds of up to 262 Mbps. We have also enabled optical connection for more than 200,000 households”, added Drilo.


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