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Fishing an important business on Croatian islands Fishing an important business on Croatian islands

Croatia’s islands proving a hotbed for entrepreneurs

Written by  Aug 26, 2016

According to data from the Croatian Financial Agency (FINA) in 2015 a total of 3,933 entrepreneurs run businesses on the 51 Croatian islands or 2.7 percent more compared to 2014. The total island revenue achieved in 2015 was 9.7 billion Kunas, or 9.9 percent more in comparison to the previous year. The number of employees recorded an increase of 4.5 percent i.e. 20,364 workers were employed in the island economy.

The largest number of entrepreneurs was registered on the most populated Croatian island Krk. The town of Krk and six municipalities had a total of 783 registered businesses with 4,844 employees. The entrepreneurs from Krk achieved a revenue of 1.3 billion Kunas or 13.2 percent share in total revenue of all islands.

The island of Krk was followed by the island Brac in the Split-Dalmatia County which had 581 registered enterprises with 2,566 employees. The Croatian island Korcula in the Dubrovnik-Neretva County placed as third on this list with 323 registered entrepreneurs who employed 1,921 workers.

The largest Croatian island of Cres had the largest number of employees in ratio to the number of entrepreneurs. In 2015 Cres had 92 registered businesses with 1,480 employees, or on average 16.1 employees per entrepreneur. The island of Cres accounted for 6 percent of the total revenue of all islands.

The average monthly net salary in the Croatian island economy in 2015 amounted to 4,763 Kunas or 5.1 percent less than the average monthly net salary paid by the state level enterprises which was 5,019 Kunas.

The highest salary of 5,903 Kunas was paid by entrepreneurs on the island of Hvar, whilst the lowest one was paid on the island of Korcula in the amount of 4,406 Kunas.

As far as the type of business is concerned, the tourist industry was the most lucrative in 2015 with 2.4 billion Kunas of revenue, which accounted for a 24.5 percent share of the total revenues.

The second most lucrative business was retail trade and wholesale (2.1 billion Kunas), followed by the manufacturing industry (1.29 billion Kunas), the construction industry (1.26 billion Kunas), whilst agriculture and fishing achieved 677.2 million Kunas of revenue in 2015.