Net Loss of Tourism, Catering Sector in 2020 HRK 3.4 Billion

By 23 September 2021
Net Loss of Tourism, Catering Sector in 2020 HRK 3.4 Billion
Mario Romulić

ZAGREB, 23 Sept 2021 - The tourism and catering sector in Croatia grew in the period from 2004 to 2020 in almost all aspects, from income to the number of employees, but 2020 saw a decline due to the coronavirus pandemic, with businesses reporting a total net loss of HRK 3.4 billion.

These are data from an analysis done by the Financial Agency (FINA), which also includes statistics about the number of businesses and employees, total income and expenditure, profits and losses, exports, etc.

The number of businesses providing accommodation and preparing and serving food was the highest in 2020, slightly more than 13,000, and that number had grown since 2004 when there were around 3,000 such businesses.

The number of employees in the sector grew from around 36,000 in 2004 to more than 65,000 in 2020.

The total income of the tourism and catering sector was the highest in 2014, amounting to HRK 19.1 billion, 9.1 billion more than in 2004.

In 2020, marked by the coronavirus pandemic, the sector income was HRK 17.6 billion.

The expenditure was higher than total income in each of the years covered by the survey. In 2004, the expenditure totaled HRK 10.2 billion, in 2009 around 13.8 billion, in 2014 19.3 billion, and in 2020 21.3 billion.

This resulted in losses in each of the surveyed years, ranging from HRK 298.3 million in 2004 to HRK 3.4 billion in 2020, which was mostly due to the coronavirus pandemic and its impact on travel and related sectors.

In terms of the number of employees, income, investments, new employment, and other indicators, the analysis shows that in the said period the first three in the top ten companies were Valamar Riviera from Poreč, Maistra from Rovinj, and Plava Laguna/Istraturist from Poreč/Umag.

For more, check our our dedicated business section.