Thursday, 13 June 2024
The United Kingdom Fourth Largest Croatian Export Market for IT Services HUP

The United Kingdom Fourth Largest Croatian Export Market for IT Services

Written by  Mar 13, 2024

In 2023, Croatia exported goods to the United Kingdom worth 248 million euros, of which 150 million euros accounted for ICT service exports.

The Association of Croatian British Professionals (ACBP) and the Croatian Employers' Association (HUP) organized a conference last week entitled "How to do business in Great Britain?"

As explained in the opening speech by Krešimir Krajnović, co-founder of ACBP, the goal of the event was to exchange experiences of successful Croatian professionals who are business-connected with Great Britain and connect them with other individuals interested in opening a company or finding investors and business partners in that country.

"Great Britain nurtures a special business culture that contains elements of both European and American spirits. There are indeed many opportunities for Croatian companies in the country, but it's always easier to succeed if you have the knowledge and support of a professional business network. That's why we founded the Association of Croatian British Professionals, to create a community where members actively support each other, both professionally and personally," emphasized Krajnović, who thanked co-founder of ACBP Margaret Klinčić Tremac in his speech, adding that they have grown in the past year to an association with nearly 400 members.

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The importance of trade relations between these two countries was confirmed by Irena Weber, CEO of HUP. She stated that in 2023, Croatia exported goods worth 248 million euros to the United Kingdom and imported 137 million euros, indicating a surplus of 110 million euros in trade. In the field of service exports, IT services stand out at around 150 million euros in 2023, positioning the United Kingdom as the fourth largest Croatian export market for IT services.

On the other hand, there is a huge interest among Britons in Croatia as a tourist destination - last year, revenue from British tourists doubled compared to the pre-pandemic year of 2019, amounting to 1.3 billion euros.

"The United Kingdom represents one of the most dynamic markets in the world, with a rich business culture and strong influence, and the mentioned data clearly show the potential for growth and development of economic cooperation between Croatia and the United Kingdom. In this context, we must also mention the traditional interest of Croatian students in studying in Great Britain. This is a potential that we must continue to build upon because it is precisely through it that we can improve our mutual business relations," said Weber.

The conference was also addressed by Simon Thomas, Ambassador of the United Kingdom of Great Britain and Northern Ireland to the Republic of Croatia. He emphasized that the improvement of international relations is mostly done by dynamic individuals who, through their daily lives, build a connection between Croatia and the United Kingdom. These include tourists who come on vacation, as well as business people who see opportunities for development in both markets.

"The Association of Croatian British Professionals is living proof that there is a need for a dynamic connection between our two countries and evidence that there is enormous potential for companies wishing to do business in both markets. It is very important that you share your stories, your advice, and help people navigate through the business conditions in the United Kingdom. We will continue to be your partner, as well as a partner to all companies considering expansion into the British market or wishing to use the United Kingdom as a springboard to the global market," Thomas concluded.

The Voice of Dubrovnik


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