Croatia is the world’s seventh destination for tourism investment

Category: Press releases
Published: Mon, 11.12.2017 - 12:24

The first edition of the Global Tourism Locations of the Future 2017/2018 report, of the leading British publication of the Financial Times for business, the fDi Magazine, has ranked Croatia the seventh country among destinations with the highest potential for tourism investment. Among 43 world tourist destinations, Croatia also received the special award “Editor's Choice Awards”, as one of the countries with the greatest progress in the area of improving tourist infrastructure, accommodation, initiatives for the development of tourism, and for investment in hotels and the cruise segment of the nautical tourism. In addition, when it comes to special forms of tourism, Croatia is particularly famous as a filming destination. The entire report can be found on this link.

The Minister of Tourism, Gary Cappelli, stressed that in 2018 the Croatian tourism is expecting an increase of 15 percent in investment compared to the current year, or nearly 40 percent more tourism investment than in 2016. As he stated, these announcements are the best indicators that Croatia, in addition to being an attractive tourist destination, is also attractive for investment.

The Ministry of Tourism has prepared this year again a survey of tourism investment for the following year. The survey included all counties and tourism companies, and it is a survey with entered data that were submitted to the Ministry of Tourism until the end of November 2017. According to delivered data, 940 million euro will be invested in Croatian tourism in 2018. Companies will invest around 628 million euro in their tourism projects, while the public sector, that is the counties, cities and municipalities, will invest over 311 million euro. The announced investments in the private sector include investments in hotels, campsites, the nautical sector and other types of accommodation facilities, content and attractions, and investments in the public sector include investment in visitor centres, beaches, promenades, etc. According to the survey, investments in 2017 amounted to 817 million euro, and in 2016 676 million euro.

The beginning of the construction of some of the biggest tourism investments in the past few years is expected next year, such as the construction and the reconstruction of the Belvedere Hotel in Dubrovnik, with a total value of more than 900 million kuna, and the project of the investment bank Arqaam Capital and the hotel company Four Seasons Hotels and Resorts in the Brizenica Bay on the island of Hvar, worth nearly 1 billion kuna. Maistra will finish and open the Hotel Park 5* in Rovinj in 2018, worth 539 million kuna. A large number of investments is planned in Istria, where the company Valamar in Girandella Resort in Rabac is investing in the construction of the Maro Hotel, and the reconstruction of existing facilities, Valamar Argosy in Dubrovnik and Valamar Pinia Suites in Poreč. Plava Laguna will start next year the reconstruction of the hotel and tourist village Laguna Park in Poreč, and the company Istraturist Umag has announced the reconstruction of the Hotel Sol Umag and the campsite AC Stella Maris. Moreover, numerous investments in the continental part of Croatia are announced too, among which the construction of Ivanov Dom (Ivan’s Home), the reconstruction of the Arcadia dependance, and the reconstruction of the Swiss Villa within the Special Hospital for Medical Rehabilitation Daruvarske Toplice. The specified accommodation units will be in the 4* category. In addition, the reconstruction of the Hotel Panorama in Prelog is expected too, where the hotel will be recategorised from 3* to 4*, and the accommodation capacities will increase.