Croatia Tourism Report Q2 2016
BMI View: The Croatian tourism industry continues to grow rapidly and we maintain a firmly positiveoutlook for growth over the next few years. Inbound tourist arrivals will increase by 5.1% in 2016, reaching12.8mn, driven in large part by improving economic conditions across Europe and benefitting from anexpanding number and geographical diversity of international air travel connections. Indeed, while Europewill remain the predominant source market for the industry for the foreseeable future, efforts to attracttourists from the Middle East and Asia in particular will begin to bear fruit and become a more importantdriver of growth. Investment opportunities in the hotel sector have traditionally been hampered by a weakinvestment climate, but Croatia's joining of the EU in 2013 has bolstered its attractiveness to foreigninvestors and will likely generate growing interest among international developers over the coming years.
Key Updates And Forecasts
The latest data from the Tourism Ministry indicates that Croatia's tourism industry remains in goodhealth, with an estimated 8% year-on-year (y-o-y) rise in tourist arrivals in the first 11 months of theyears as the country benefits from instability in Greece and Turkey and improving economic conditionsin the eurozone.
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