Croatian Tourism to Bring 7.8 Billion Euros This Year

Total Croatia News

A bumper year for financial tourism receipts predicted. 

Expectations that this might be a record year for Croatian tourism have finally been confirmed. According to the tourism boards, the number of tourists on the Adriatic and in Zagreb in July has increased by 11 percent, while the number of overnight stays has grown by 9 percent. In the first seven months of the year, the number of tourists has increased by nine percent and the number of overnight stays by seven percent, reports Jutarnji List on August 9, 2015.

“Good results of the pre-season and good expectations for the post-season are proof that the ‘Croatia 365’ initiative is very successful and that Croatia has managed to extend its tourism season”, said tourism minister Darko Lorencin. In his opinion, we can expect “financial effects” to be close to eight billion euros. The previous record year was 2008 with revenues of 7.46 billion euros, while last year tourism brought 7.4 billion euros.

Analysts agree that this could be a record-breaking year. According to the Hypo Alpe-Adria Bank, the revenues could amount to 7.8 billion euros, an increase of six percent in comparison to last year. Croatian tourism has benefited from the fact that tourists have been diverted by the crises which have affected other Mediterranean destinations, such as Greece and North Africa. Minister Lorencin believes that by 2020, Croatia will be “one of the twenty most competitive tourist destinations in the world”.

In addition to tourism, the data show a solid growth of exports. Will these positive economic indicators result in higher GDP growth than expected? Zrinka Živković Matijević, an analyst for RBA, said that at the moment they will not change their economic forecasts. “However, tourism will definitely contribute to the economic activity in terms of the export of services and indirectly it will have a positive impact on consumer spending”, said Živković Matijević.

A RBA analysis shows that in the first half of the year there were 23 percent more overnight stays than in the same period of 2008. That demonstrates that the preseason has improved significantly, but revenues have not increased accordingly. In times of crisis, analysts explain, tourists rationalize their spending.


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