April 19, 2023 - The Museum of Illusions - a globally renowned project born in Croatia, is embarking on an aggressive global expansion. The ambitious team of Metamorfoza, which is in charge of business expansion, aims to have 100 such museums worldwide in its portfolio by the end of 2026.

As Poslovni writes, the Museum of Illusions currently has 42 locations from Zagreb through New York, Dubai, Milan, and Paris, in 25 countries. Such intensive expansion was accompanied by strengthening the team that globally manages the brand from Croatia. So, for example, last year in Charlotte, North Carolina, they opened their first own museum, which is directly managed by the Zagreb team, which is why the team had to grow fivefold.

"We are currently the world's largest chain of private museums, and Metamorfoza is the company behind the brand. Our team consists of more than 50 experts from Croatia who cover the areas of project management, research and development, logistics, architecture, finance, marketing, and account management.

In 2023, we will continue with the wave of employment, which is also influenced by the future openings of the Museum of Illusions, including locations in the USA. It is precisely for this reason that we are opening an office in Atlanta that will be the headquarters for the American market, while the global headquarters of Metamorfoza will remain in Zagreb," said Metamorfoza director Teo Širola at the presentation of the plans, adding that so far more than nine million visitors have passed through the Museum of Illusion, and 2022 was the most successful year.

The business model is set so that Metamorfoza owns the franchise, and each museum has its franchisor who is responsible for the business and runs it with the help and support of the Zagreb team. Together, they guide franchisors through all phases, from museum construction to development and day-to-day management.

For more, make sure to check out our dedicated Business section.

ZAGREB, 15 April (2022) - So far, 4270 Croatian businesses have received a total of HRK 128 million (€17m) in subsidies to cushion the impact of increased natural gas prices on their operations, Minister of Economy and Sustainable Development Tomislav Ćorić said on Friday.

"In the first two weeks of the implementation of the government measure to mitigate the consequences of increased energy prices, 4,270 businesses applied for a natural gas subsidy allocated by the Ministry and HRK 128 million has been granted. We invite other SMEs (small and medium-sized enterprises) to apply," Ćorić wrote on Twitter.

On 1 April, the Ministry, in cooperation with the HAMAG-BICRO agency for SMEs, launched an aid scheme for micro, small and medium-sized enterprises with an annual natural gas consumption of up to 10 GWh, providing a subsidy of HRK 0.15 per kWh. This is de minimis aid aimed at reducing natural gas bills. Under the scheme, every month businesses pay the amount stated on their bills, while the Ministry pays the subsidised amount directly to the natural gas provider. The monthly subsidised amount is automatically deducted from the businesses' vouchers.

The total projected amount of this measure is HRK 600 million (€80m).

Business: For more, check out our business section.

ZAGREB, 31 January 2022 - The main Zagreb Stock Exchange (ZSE) indices went up slightly amid weak turnover, with the Crobex increasing by 0.33% to 2,132.61 points and the Crobex10 by 0.40% to 1,301.52 points.

Regular turnover was HRK 3.9 million, about HRK 700,000 less than on Friday.

No stock crossed the million kuna mark in trading.

Končar generated the highest turnover, of HRK 552,100, closing at HRK 900 per share, up 1.69%.

Thirty-six stocks traded today, with 11 gaining in price and 11 losing, while 14 were stable.

(€1 = HRK 7.528487)

For more, check out our business section.

ZAGREB, 9 Sept 2021 - The businesses registered in Varaždin County recorded the consolidated net profit of HRK 1.3 billion in 2020, up 22.3% from 2019, and had also 1.6% more employees last year than in 2019, according to an analysis of the Financial Agency (FINA).

Last year, the total revenues of the 4,276 businesses that had their main offices registered in that northern Croatian county stood at HRK 27.5 billion, down by 0.3% on the year, and their total expenditures were cut by one percent to HRK 26 billion.

In terms of revenues, the food company Vindija topped the ranking, HRK 3 billion.

WE-KR, a company specialized in manufacturing metal structures, saw the highest profit.

The net profit for the period of all the enterprises in the county came to HRK 1.5 billion, rising by 26.5% from 2019, the loss for the period jumped by 49.1% to HRK 290.2 million. As a result, the consolidated financial outcome of the profit was HRK 1.3 billion, or 23.3% more than in 2019.

Gross fixed capital formation increased by 5.5% in 2020.

The exports of the businesses registered in Varaždin County declined by 4.5% to HRK 9.2 billion, and imports shrank 11.5% to HRK 5.1 billion.

The biggest exporter, based in Varaždin County, was Boxmark Leather, whose exports totaled HRK 934.6 million, and it had the highest number of employees, 2,234.

Last year, the number of people on the payroll of all those 4,276 businesses increased by 701 or 1.6% to 43,889 on the year.

Last year's average monthly wage in county businesses was 12% lower than Croatia's average

The average monthly net wage paid to workers in Varaždin County-based businesses totaled HRK 5,257, or 2.3% more than in 2019. However, the comparison of the average net monthly wage paid by enterprises in the whole of Croatia, (HRK 5,971), and by this county's enterprises in 2020 shows that workers in this northern county received the monthly salary lower by 12% than the country's average.

(€1 = HRK 7.476883)

For more, make sure to check out our dedicated business section.

September the 7th, 2021 - The country's many exporters are set to have life made that bit easier for them with Croatian Schengen entry on the horizon, further aided by the country finally entering the Eurozone.

As Poslovni Dnevnik/Darko Bicak writes, Minister of Economy and Sustainable Development Tomislav Coric recently said that for small and open economies, such as that boasted Croatia, exports are a prerequisite for development and survival.

"The country's GDP has been growing for years now, and of late, exports have been one of the main factors when it comes to economic growth and economic recovery. Exports recorded very good results even during pandemic-dominated 2020. This year, we've been recording a large recovery in terms of exports with 60 billion kuna, which is 11 billion kuna more than in pre-crisis 2019,'' said Coric.

He added that we must be careful in this analysis of the growth of the value of Croatian exports, because part of it is related to global inflation.

Minister Coric also pointed out that the achieved results are due to about 20,000 Croatian exporters who are the largest employers in the country, who also generate the largest share of total income and investments. He stated that both EU and national funds are a major source of funding for innovation and competitiveness of the domestic economy in the wake of the Green Plan.

"I'm aware of the challenges that Croatian exporters have been facing for years, and the Government is making great efforts to overcome bureaucratic obstacles for Croatian businessmen, and especially exporters, for greater growth and exports. By joining the Eurozone in two years, we'll take an additional step forward in eliminating exchange rate risks faced by Croatian entrepreneurs when doing business on our most important market - the single market.

In addition to the above, Croatian Schengen entry will be a benefit for all of the country's exporters because it will simplify and speed up mobility,'' concluded Minister Coric.

For more on Croatian Schengen and Eurozone entry, make sure to follow our politics section.

May 21, 2021 – Interesting research suggests most Zagreb and Split citizens support the initiative to ban working on Sundays.

We have already reported on the Croatian government's initiative to ban retail stores from working most Sundays. It is an unusual idea in a time when businesses are getting more and more flexible with working hours. The initiative has been endorsed by the Catholic Church since the beginning. It promotes the idea of people being allowed to enjoy Sundays with their families or attend mass service if they are religious. How this type of decision would affect the tourism destinations is another issue altogether.

Results of the Poll

The opinion poll was done in the run-up to the last week’s elections. As reported by N1, which organised the research poll, 65,3% of Zagreb voters and 74% of Split voters support the initiative to ban working on Sundays. MASMI agency conducted the poll on a sample of 1300 people. There were eight reasons to choose from for those in support of the ban. The right to have a day off during the week ranked as the most popular reason in both cities. In Split, 43,2% of people in support of the ban chose this option. In Zagreb, that percentage was 45,5.

Seeing how this poll was tied to the election poll, it is interesting to note the differences in political affiliations and choices made. Most right-leaning voters see Sunday as a day for the family. Left-leaning voters see it more as a day of relaxation and rest for the workers. Protection of worker rights is an important reason for SDP’s (Social Democratic Party) voters. 31,8% of them support the ban for this reason in Split. 18,5% of all those who voted positively to the poll question in Split and 15,8% in Zagreb feel this decision would help protect the rights of the workers. In other words, they don’t feel these rights are being protected or respected at the moment. This might be the most interesting and worrying statistic in the entire research.

It is also interesting to note how religious reasons didn’t rank high, scoring only 3,9% in Zagreb and 1,4% in Split. Religious voters believed the church service can be attended in times outside of the person’s working hours.

For more about politics in Croatia, follow TCN's dedicated page.

ZAGREB, 15 May 2021 - The European Commission on Saturday confirmed having received national recovery and resilience plans from Croatia and Lithuania.

The plans determine reforms and public investment projects which each member-country plans to implement with the help of the Recovery and Resilience Facility.

The EC has so far received national plans from 17 member-states.

It now has two months to determine if the plans contribute to efficiently dealing with all or a significant portion of subgroups of challenges identified in relevant recommendations for individual member-countries in the context of the European Semester.

The EC will also determine if at least 37% of the outlays in the plans are intended for climate goals and at least 20% for digital transition.

After a national plan is given a passing grade, the EC sends it to the Council for adoption, for which the Council has four weeks.

The Recovery and Resilience Facility is the key part of the EU's plan for recovery from the crisis caused by the coronavirus pandemic, called the Next Generation EU. It has at its disposal €672.5 billion for support for investments and reforms in the member-states. Of that amount, €312.5 billion are grants and €360 billion are loans.

Croatia has at its disposal €6.2 billion in grants and 3.6 billion in loans.

Under Croatia's National Recovery and Resilience Plan, for the time being the country plans to use grants, while a decision as to whether loans, too, will be taken has been left for later.

Croatia's plan consists of five components and one initiative - green and digital economy; public administration and judiciary; education, science and research; labour market and social protection; and health. The initiative refers to building reconstruction.

The plan also contains measures for improving the business environment, education, research and development and the energy efficiency of buildings as well as for zero-emissions transport and development of renewable energy sources.

For more, follow our business section.

May 7, 2021 – PM Plenkovic has stated the ruling coalition is planning to propose changes to the Trade Law that would limit retail companies from working Sundays.

Croatian Prime Minister Andrej Plenkovic announced yesterday the ruling coalition is working on changes to the Trade Law. Among other things, the law regulates allowed working hours. Plenkovic stated they are considering limiting work on Sundays for the retail sector. Apparently, the idea is to allow the retail sector to work a maximum of 16 Sundays a year. This is taking into account the tourism season months. Retail stores would close for the other Sundays of the year.

Working on Sundays is a long-time hot button issue for Croatian politics and business. The idea behind the regulation is simple. If you ban stores from being open, retail companies will give their workers time off to enjoy Sundays with their families. The Catholic Church is a big proponent of this regulation. In fact, Index.hr reports the initiative for the change in the law might have been a part of the promise made to the Croatian Bishops' Conference (HBK) by the ruling coalition. Church has been vocal in asking for public support in this initiative for the past several years. The same article by Index.hr reveals the justification for the law proposal stems from supposed research by the Ministry of Economy and Sustainable Development. After several inquiries into the matter, the ministry finally admitted they don't have any such research documented.

Does the Croatian Economy Need more Restrictions?

It seems like a far-fetched concept in today's world, banning companies from working. While some might argue retail sector sometimes overworks and underpays its employees, it seems like the solution to that problem should be better controlled over the worker's rights and fair business practices. Many Croatians are in favour of the proposed change in the law. This is a fact that no one should dismiss. Still, regulation disabling companies from working for a part of the year seems like a relic of times long past. The mere fact the PM has stated they would allow 16 working Sundays to accommodate for the tourism season is worrying. It screams of a concept of tourism Croatia is supposedly trying to get away from. 16 weeks of tourism per year sounds like a counterproductive move in a country struggling to shed the image of a seasonal destination.

We will know soon enough is this new concept of Trade Law will be proposed and accepted. For now, it remains as a controversial concept for an economy yet to feel the full effects of the lockdown-related drop in business figures.

For more about politics in Croatia, follow TCN's dedicated page.

Friday, 4 September 2020 - After promising to open branches of his company here last September, Elon Musk is now looking to employ team members in Zagreb as Tesla arrives in Croatia

Elon Musk and his Tesla company are advertising the first two job opportunities to work at their forthcoming set-up in Zagreb. Tesla arrives in Croatia at a time of uncertainty for many businesses and investors, but the forward-thinking clean energy firm seem always to be thinking two steps ahead. The positions currently advertised are 'Tesla Advisor' and 'Sales & Delivery Manager.'


Screenshot from Tesla website

Musk revealed his plans to begin operations in the country in September 2019, when responding on Twitter to a question about Slovenia. The company co-founder and CEO replied that he was looking forward to establishing the company, which takes its name from Croatia-born inventor Nikola Tesla, in the 'countries' (sic) of his birth.

This is literally the second time in a month that TCN has been able to announce Tesla arrives in Croatia. Following a 30-year absence, a famous statue of Nikola Tesla – currently seen in both Belgrade and America – is finally being brought back to Gospic, his home town.


Tesla's best-selling Model 3. The company currently has the largest global share of the electric car market, roughly 17% © Vauxford

Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. They are most famous for their electric cars and have several models on the market. Croatian motorways were last year equipped with electric refilling stations across its entire network, in order to facilitate pan-Croatian travel in the increasingly popular vehicles.

The company also manufacture batteries, solar products, other green energy solutions and services associated to them. As Tesla arrives in Croatia, a country with a proven track record in green energy, such as hydroelectricity and wind farms, it's coming to a suitable home. Tesla is the world's best-selling manufacturer of plug-in and battery electric cars.

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November 16, 2019 - Croatian rent-a-car company Carwiz has opened its first rental office in the United States.

HRTurizam writes that Croatian car rental company Carwiz has positioned itself as a leader in this segment in a short time - and in just a year, made a major leap forward, unthinkable to many at the time, and attacked and expanded into the global market through a franchise model.

Thus, Carwiz became a Croatian export product and part of the tourism sector. In less than a year, through its franchise model, Carwiz is already present in 15 international markets, and it is with this new franchise partnership that they continue its global expansion in the most demanding market yet - the United States.

Having a presence in the US market is a dream for all companies, especially from a small market like Croatia. The US market is extremely competitive and demanding, and few in Croatia have succeeded in doing so, not counting IT companies. However, this feat was accomplished by Carwiz.

Carwiz has thus opened its first car rental office in the United States.

By signing a contract with the company from the world's largest car rental market operating in Orlando International Airport, Southeastern Florida, Carwiz International has opened its first US car rental office.

"We started the negotiations in February this year and finalized them during the WTM fair in London. American versus other markets is the most challenging because of market rules that are very different from European, African, and Asian. We think the branch office at Orlando International Airport, which is also the largest rental car market in the world, is a good way to introduce ourselves to US customers,” explained Frane Herceg, Franchise Manager of Carwiz rent a car.

Thus, after the European, African, and Asian markets, Carwiz also enters the US market and continues its global expansion.

Carwiz dreams of becoming one of the strongest players in the rental car industry; however, expectations for expansion on the global map for this year are not yet met. According to Carwiz, at the recently concluded WTM fair in London, interest in the Cariwz franchise exists from as many as twenty new countries.

"They expressed interest comes from European, American, and exotic and distant countries to us thanks to the service we offer our partners - from daily contact regardless of the time difference and mentoring. The company is projected to grow by the end of the year in twenty countries. We have achieved a lot of partnerships thanks to our visual identity, which also proved to be very attractive at the fair and the success we have achieved in just two years of business, during which we have established ourselves as one of the strongest players in the rent-a-car industry,” Carwiz's director, Kresimir Dobrilovic, emphasizes, adding that quality management of the franchises and the support they provide to partners have proven to be the main precondition for the company's growth.

Interest from Qatar, India, Mauritius, the Dominican Republic, Florida, and Azerbaijan indicate that a global brand can enhance local business, give it importance and improve sales, adds Dobrilovic, and concludes that their global brand presence suggests that price is not the only and the most critical factor in the market.

This Croatian company is slowly and surely one of the strongest players in the international rental car industry.

To read more about business in Croatia, follow TCN’s dedicated page.