Croatia's Tourism Booms Just 6 Months into Schengen Membership

Croatia, which is the newest Schengen country, expects a higher number of tourists during this summer.

SchengenVisainfo.com reported that the TotalCroatiaNews article mentioned the fact that the Tax Administration's latest figures for the fiscalised revenue of applicable businesses are on a positive track. This further confirms the sector's optimistic outlook.

Fiscalised turnover is the amount of revenue that businesses generate when they issue tax receipts. These figures give an insight into the financial performance and profitability of tourism-related enterprises.

The Accommodation Sector Received Bill Payments of EUR171 Million in the Last Month

The increase in card and cash payments also shows a positive trend. Comparing the figures for last month and those of the same month in 2022, the increase is noticeable, from EUR117 to EUR171 millions. This is a growth of approximately 46 percent.

Comparing the first five month of this year to the same period last year shows a significant increase. Fiscalised turnover increased by EUR275 million from EUR403 millions, reflecting an increase of approximately 46 percent.

It is important to note that in 2023, the increased revenue and traffic are partially due to higher prices. Price increases are likely to contribute to an overall increase in revenue for the sector.

In May 2023, growth was reported in the cafes, restaurants, and other hospitality facilities.

The hospitality sector reported a turnover of more than EUR290m last month. This is a nearly 30% increase over the EUR224m reported for the same month in 2022. The number of bills that were issued in this time period increased by less than 5%.

If you look at the total figures up until the end of the month, the restaurant owners have already exceeded one billion euros (EUR999m) in fiscalized revenue. This is a 31 percent increase compared to last year's same-period. The 8.4 percent increase in bills issued was the key to the recorded turnover growth.

Data suggest that the tourist season has started well in Croatia. This is true not only for the hospitality and accommodation sectors, but also in other related fields such as transportation and taxi services. Taxi services saw a significant increase in the amount of taxed traffic in May. This is in comparison to April's figures, which were 9.1 million euro and March's EUR8.5 million.

According to a quick estimate by the state statisticians in May, consumer prices increased on average by 0.5 percent per month. The annual inflation rate fell below eight percent, energy prices dropped by three percent, but food, beverage, and tobacco still had a double-digit growth rate of 13.5%.

Source: schengenvisainfo.com