Business

ZAGREB, May 26, 2020 - A grant agreement was signed in Dubrovnik on Tuesday for the reconstruction and extension of the Lapad waterfront in Dubrovnik worth HRK 70 million, for the second, third and fourth phases of construction. Attending the signing ceremony, Prime Minister Andrej Plenkovic underscored that the project is essential for Dubrovnik's development and that it fits into the government's policy and partnership with local authorities. "During the meeting on the occasion of the Feast Day of St. Blaise in 2019, we adopted a set of important items for development projects in the city with a total value of HRK 4.5…

ZAGREB, May 26, 2020 - Croatia can maintain keep sugar production provided that it strongly restructures the sector and enables close cooperation between sugar beet growers, sugar mills, and state authorities, the Smarter consulting company says in an analysis it released on Tuesday. The analysis highlighted the merger of the Sladorana, Viro, and Tvornica Secera Osijek sugar mills into one company -- the Croatian Sugar Industry ( Hrvatska industrija secera) -- as a precondition for the survival of sugar production in Croatia. The merger, which was praised as a move that consolidated the sugar market, is seen in the analysis as a measure conducive to efforts to…

ZAGREB, May 26, 2020 - Croatia's foreign debt totaled HRK 41.1 billion in January, falling by 6.5% compared to January 2019, however RBA analysts predict a rise in the debt throughout 2020 due to the corona crisis. Croatia's gross foreign debt of 41.1 billion at the end of January 2020 rose by 0.6% from December 2019 when it amounted HRK 40.9 billion, however, it contracted by 2.8 billion euros or by 6.5% on the year, according to the figures recently published by the Croatian National Bank (HNB). However, considering the new circumstances in connection with the coronavirus pandemic that caused…

ZAGREB, May 26, 2020 - This summer, between Belgium's national carrier, the Brussels Airlines, will gradually increase the number of destinations to which it will fly, and among them, there are four Croatian cities - Zagreb, Split, Dubrovnik, and Zadar. The company stated that this summer, due to the coronavirus pandemic, it would realise only 30% of its originally planned summer flight schedule. From June 15 to August 31, Brussels Airlines will gradually add destinations to their flight schedule, ultimately flying to 59 destinations in 33 European, African, and US destinations. The list includes four Croatian destinations: Zagreb, Split, Dubrovnik,…

As Poslovni Dnevnik writes on the 25th of May, 2020, this season, in order to increase the safety of guests, Valamar is introducing something called the "CleanSpace - 100% privacy" service, which guarantees that key points of contact in rooms and mobile homes are thoroughly cleaned and disinfected, and that no one enters the accommodation unit before the scheduled guest arrives. In addition, the service offers complete privacy in the room throughout the guests' stay with the guarantee that the staff will enter the accommodation unit only at the invitation of the guest themselves. Valamar Riviera, known as the largest…

The tourist turnover for Croatian private renters, at least when judging by the current state of reservations, could be at the level of a mere 30 percent of last year's turnover this season. As Novac writes on the 25th of May, 2020, as predicted by Nedo Pinezić, the owner of the Quanarius tourism consulting company and provider of household accommodation services in Malinska, the recovery of tourism in Croatia will begin only next year and will be long-lasting. ''Family accommodation is good because we have a lot of loyal guests. There have also been new inquiries, reservations and announcements, and…

May 26, 2020 — This was supposed to be a good year for foodies in Croatia. Michelin Stars, increased visibility, delivery apps, and ever-increasing tourism numbers fueled a gastronomic renaissance in Croatia. Hopes for a boom in 2020 remained high. Now, some restauranteurs and hospitality workers will hope to merely survive until next year. Dalmatia’s chefs expect a catastrophic season. Not merely measured against the last few years, but overall. Between the coronavirus pandemic, costly epidemiological measures, the ensuing economic downturn, a late start to the summer season and general uncertainty, revenue at some eateries could plunge by 70 percent compared…

ZAGREB, May 25, 2020 - Five thousand people will be laid off because of non-working Sundays, Jutarnji List daily said on Monday, adding that the figure was confirmed even by those advocating the ban Although Economy Minister Darko Horvat is saying he has reached "a high consensus phase" on a Sunday work ban with the government's social partners, this is not the case with employers, the paper said. Employers are divided on the matter, as conceded by Martin Evacic, president of the Croatian Employers Association's retail division, "but there are a few more of those who are for regulating the matter, based on the…

ZAGREB, May 24, 2020 - The EU new car demand sank in April due to measures for suppressing the coronavirus pandemic, and the decline in Croatia was higher than the EU average, it was reported earlier this week by the European Automobile Manufacturers' Association (ACEA). In April 2020, 270,682 new cars in total were registered in the 26 EU member states (without Malta, for which data was unavailable), which is a year-on-year decline of 76.3%. April was the first full month with Covid-19 measures in place from the first to the last day, the ACEA underscores in its explanation of the largest…

ZAGREB, May 24, 2020 - Analysts polled by Hina on Croatia's GDP trends in the first quarter of 2020 give different opinions on whether the economy grew or contracted in that period, however, they all estimate that it is going to decline, anyway, this year due the corona crisis. The national statistical office (DZS) will release first estimates of the Q1 economic growth in a few days, and the six analysts polled by Hina are divided in their estimates whether Croatia's growth was positive or negative. Thus, three analysts forecast a decline ranging between 0.5% and 4% in the Q1 2020. If the…