Saturday, 19 August 2017
Even stronger Croatian tourism Even stronger Croatian tourism

J.P.Morgan –the growth of the Croatian tourist industry is stronger than the global trend

By  Aug 10, 2017

J.P.Morgan Investment Management Inc. has published a quite affirmative analysis on the development of the Croatian tourism and its competitiveness in relation to other Mediterranean countries.

The analysis titled ''Croatia full of life'' as is the advertising slogan of the Croatian Tourist Board, concludes that the growth of the Croatian tourism is not only the result of global market conjuncture, but of Croatia's competitive comparative advantages in relation to other countries on the Mediterranean.

Therefore, it is emphasized that Croatia is growing faster than the average growth of the market, that tourism has withdrawn the country from the recession, as well as that Croatia has the largest share of tourism in the total economy, i.e. it makes up to almost 25 percent of GDP. It is also added that the direct contribution of tourism to GDP is 10,7 percent, whilst the share of people employed in tourism in general employment is 23 percent, out of which 10 percent is a direct effect.

''Globally, the tourist sector is becoming stronger, but the growth of the Croatian tourist industry is stronger than the global trend. Croatia is safer than destinations in the southern Mediterranean (Egypt, Israel, Jordan, Lebanon, Morocco, Tunisia) and cheaper that its rivals in the northern Mediterranean (France, Greece, Italy, Portugal, Spain, Turkey). The country also has a unique natural landscape with more than a thousand islands and an indented coast as well as a rich cultural heritage. This analysis explores the strength of the Croatian tourist sector and explains why current trends are sustainable and persistent, supporting economic potential and real economic growth, and at the same time representing risk in case of a decline in the tourism sector'', stated the J.P.Morgan analysis.

Therefore, analysts from J.P.Morgan advise that Croatia have to focus on solving earlier detected bad aspects of its tourism in order to improve tourism competitiveness, adding a notorious remark that the country is still perceived as a seasonal ''sun and sea'' destination.

In order to reduce seasonality as well as mentioned weaknesses, the analysis recommends paying more attention to investment and development of Croatian islands as well as to the development of tourist niches in the field of sports, health and eco-tourism.

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The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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