Croatian Financial Situation Better For a Third of People

Lauren Simmonds

croatian financial situation

May the 16th, 2024 – The Croatian financial situation is generally better for around a third of individuals, with the youth now more optimistic than before.

As Poslovni Dnevnik writes, for around one third of citizens, or 34 percent of them, the overall Croatian financial situation is better. Most of those individuals have noticed an improvement in their own financial situation despite inflation. It’s precisely inflationary woes that remain the main concern, according to the MasterIndex survey published on Monday. In that survey, respondents stated that they now have an average monthly income of 1,035 euros.

“Significant shifts in the perception of the general Croatian financial situation compared to 2023 are visible. While 24 percent of respondents believe that their financial situation is worse than a year ago, which is 10 percent less than in 2023, as many as 34 percent of them estimate that their financial situation is better. That represents an increase of seven percent compared to 2023.”

The above are the results of research conducted for Mastercard back in March of this year by the Improve agency. The survey was carried out on a sample of 1,016 users of banking services across Croatia between the ages of 18 and 55.

has typical croatian pessimism declined?

The research also showed a decrease in pessimism when it comes to the future. Only 15 percent of respondents expect their financial situation to worsen, which is a decrease compared to last year. On the other hand, as many as 35 percent of all respondents expect an improvement in their finances, and optimism is growing especially among the younger population. Among the respondents aged 18 to 29, that percentage has risen to 44 percent, it is stated.

On the other hand, 58 percent of Croatian residents continue to highlight inflation as the main problem, although this is six percent less than last year. A growing trend has also been observed in the areas of crime and corruption, where every third person, 34 percent, has expressed concern. That’s an increase of as much as 12 percent compared to 2023.

People are also worried about the decrease in the standard of living, the inability to pay their own expenses, the decline in the quality of healthcare, as well as topics such as the wave of immigrants and climate change, the survey showed.

According to the estimates of the respondents themselves, the amount of all regular and additional income per month amounts to 1,035 euros. Those aged 40 to 49 have the most money each month, 1,224 euros. Those aged 18 to 29 have significantly less, with 751 euros. Around 13 percent of the respondents said that they didn’t have any available funds.

The largest part of the income is spent on food and drinks, an average of 234 euros per month per respondent. For clothes and shoes, 113 euros are spent each month. 86 euros is spent on loans and similar payments, and savings and investments see 72 euros poured into them on average.

83 percent of Croatian citizens stated that market disturbances and inflation influenced any increases in their monthly household spending. More is being spent on food items to prepare at home (68 percent), and the biggest increase compared to last year is visible in the travel and restaurant categories, where 45 percent of respondents now spend more.

The Croatian financial situation has also been helped for those who have found ways to save cash through shopping when sales and promotions are on (93 percent) 88 percent of people also engage in price comparisons before making purchases. At the same time, 74 percent of people believe that this isn’t the right time to make any major investments, such as buying an apartment or a car. The director of Mastercard in Croatia, Gea Kariž, stated that the optimistic shift shown by the MasterIndex was also confirmed by the Experience Economy survey conducted back in January in a number of countries, including Croatia.

“According to the results, as the Croatian financial situation becomes more optimistic, we can also see an increase in spending on experiences. This year, 57 percent of people will spend more on travel, music festivals and gastronomic adventures than they did last year,” concluded Kariž.


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