Thursday, 24 October 2019
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Croatia's rich list - just how many millionaires are there in Croatia?

By  Mar 20, 2019

There are currently 120 millionaires in Croatia who are worth between 30 and 100 million dollars, including 11 who are worth more than $100 million.

According to recent research by the London-based consultancy company “Knight Frank” the number of millionaires in Croatia has increased by 33 percent over the last decade. However, over the same time period the Croatian economy has slightly weakened and the gross domestic product is several points lower than 10 years ago. Nevertheless, the percentage rise of Croatian millionaires, at 33 percent, is almost double the rise in the European Union which stood at 17 percent.

According to Knight Frank's estimate, Croatia has 11,900 millionaires of a "lighter category", meaning those with assets worth more than a million dollars or six and a half million Kuna. It is important to note that this data does not refer to the total number of Croatian rich people, but only to those registered in the country. However, this London estimate seems considerably lower than the real situation, especially when you take into account the number of citizens who own property along the Adriatic coastline which probably means that the number of domestic millionaires is much higher.

Although delving down into exactly how Knight Frank made their conclusions a clearer picture becomes apparent. Knight Frank does not include the primary house where people live, but additional houses and real estate, stocks and securities, art collections, aircraft, yachts, gold, wine, watches and other items.

The real news, however, is that the prosperity of people in Croatia is slowing down as Knight Frank estimates that the number of millionaires will grow by only 10 percent in the next decade.

There is a noticeable trend of reducing investment in financial assets, and statistics show that almost all wealthy people diversify their investments. The majority of them have property in their company, and 56 percent invest in real estate. It is also popular to have a certain amount of cash, invest in stocks and gold.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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