Croatian Tourism Revenues Expected To Hit Record 16 Billion Euros In 2024

(MENAFN- IANS) Zagreb, Jan 2 (IANS) Croatia's tourism revenues are expected to reach a new record of 16 billion euros (16.51 billion US dollars) for the past year, according to the latest data from the Croatian National bank (CNB) on Thursday.

In the first nine months alone, revenues from foreign tourists reached 13.19 billion euros, the CNB said, crediting a strong pre-season and record-breaking post-season.

Sports groups, outdoor activities, history, culture and gastronomy were the main drivers for pre-season travel. Similarly, the post-season exceeded the year 2023's numbers by double-digit percentages in terms of visitor numbers, the CNB noted.

In the wake of the Covid-19 pandemic, Croatia's tourism revenues have exploded with double-digit growth rates as in 2023, they increased by 11.3 per cent to 14.6 billion euros. In 2022, Croatia's tourism revenues reached 13.1 billion euros, a 44 per cent increase from 2021.

Meanwhile, the record-high revenues from tourism last year are also due partly to the increased prices across all services, especially accommodation, Xinhua news agency reported.

"We achieved a higher average room rate and total revenue per room. However, it is important to note that inflationary pressures remained high, marking the third consecutive year of declining gross operating profits," Veljko Ostojic, director of the Croatian Tourism Association, was quoted by the local Croatia Week as saying.

Several factors contributed to reduced demand during the peak tourism season, including major sporting events such as the UEFA European Football Championship in Germany and the Olympic Games held in France. Additionally, there was a 5 per cent drop in German visitors, traditionally Croatia's most numerous tourist demographic, Ostojic said.

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