"I think that their purchasing power will fall to some extent, but that should bring about a significant drop in consumption or the number of arrivals in the Republic of Croatia", commented Marko Babic from the Croatian Chamber of Commerce today after the results of the referendum in the UK.
According to statistics British guests spend the most on the summer holidays in Croatia, with an average daily spend of 122 Euros, this is almost double the spend of guests from other countries.
The British are one of the most numerous tourists in Croatia and with the vote for “Leave” winning today many British tourists might well be changing their holiday plans. Within hours of the result the pound dropped in value, to its lowest level in thirty years, making holidays on the continent considerably more expensive. The number of guests from the UK visiting Croatia has been growing constantly, but with the weakening of the pound this could change. The consequences could be felt in the Croatian economy.
The long-term effects could also negatively affect British tourism in Croatia, with more questions than answers at the moment. And it isn’t only tourism that will be affected, second home buyers and business investment could also feel the pinch. An English businessman in Dubrovnik said to The Dubrovnik Times that “we only opened our company here two and a half years ago and of course Croatia being a member of the EU was an important factor, now we are no longer in that union which brings us an uncertain future.”