It is expected to be the most luxurious resort in Croatia, though it could also be a major turning point in Croatian tourism as we know it - meet Aman Cavtat.
The ground will break for the construction of Aman Cavtat at the end of this year, and if all goes to plan, the new resort could act as a catalyst for all current and future investments in the country, as has happened in Montenegro, writes Petros Stathis for Poslovni.hr, an investor in Montenegro and the region and the co-owner of Aman Resorts Group.
Croatia is ready to take the next step in its tourism development - a step on the international stage as a luxury destination, Stathis adds.
Learning from the examples of Montenegro and the shift in tourism initiated by Aman Sveti Stefan, it is time for Croatia to taste the same sweetness of success. Aman Cavtat, worth 50 million euros, whose construction is set to begin at the end of the year, will mark a significant turning point for tourism in Croatia and the Balkans as a whole.
This is another example of the importance of foreign investment in the economic growth of the region and the importance of building on the business success of investors and the interests of the local tourist boards.
The goal for Croatia is simple because it follows the goals set for every investment and construction of a resort anywhere in the world - which is to leave a lasting legacy the country will be proud of and which will encourage further development.
Stathis explains that Aman Cavtat is a project to build the most beautiful and luxurious resort in Croatia, which will be erected without disturbing the harmony of nature, and promises to respect the local infrastructure. The opportunity is enormous because it acts as a catalyst for all current and future investments - as it happened in Montenegro.
Stathis goes on to say that Aman Sveti Stefan Resort in Montenegro has raised the level of the hospitality industry, showing that accountability and respect for the area in which you operate can be evidence that a well-designed and well-executed project can create hundreds and even thousands of jobs for the local, population and, by doing so, it will attract new investments.
Foreign investment today accounts for more than 30 percent of Montenegro's GDP, most of which can be attributed to tourism, but also to the country, which has created a good investment climate for foreign investors.
In recent years, tourist authorities in Montenegro have made considerable efforts to move the country away from cheap tourism to extremely luxurious projects such as Aman Sveti Stefan, thus attracting tourists with higher spending power. This has also made the market more attractive to foreign investors hungry for a substantial return on investment.
After the renovation of Aman Sveti Stefan ten years ago, the Financial Times newspaper called it "the first sign of a revival of Montenegro's luxury tourism." It is tourism that today accounts for more than 20 percent of Montenegro's GDP and is projected to grow to 30 percent by 2028.
Aman Sveti Stefan was followed by projects such as Porto Montenegro, which boasts a marina for expensive yachts, a five-star hotel and a shopping village, luxury villas, a heliport, and a museum. The estimated investment in Porto Montenegro so far is over €450 million, which is a big boost for the local economy.
By learning from Montenegro’s experience, Aman Cavtat has the potential to play a vital role in the development of current investments, while supporting local development, business, and employment today and in the future.
To read more about travel in Croatia, follow TCN’s dedicated page.
