The Croatian tourism industry can expect some massive investment over the next five years according to a new report from the consultancy company Ernst & Young. An expected 1.2 billion Euros will be invested along the Adriatic coastline on the hotel industry.
An impressive 88 hotel developments are expected to be completed by 2022, mainly along the coastline.
And the report highlighted an interesting shift in where the money is coming from. Most of the developments in tourism in Croatia until now have come from European countries, but now 42 percent of these new hotels are being built with Asian money, putting them on the same level as Croatian investors.
Marija Norsic of Ernst & Young’s department for consulting in the tourist and hotel industries said that 60 percent of all investments refer to completely new projects and hotels, with the remaining 40 percent going to renovations of existing hotels.