Croatia, the latest member of the Schengen area, is anticipating a rise in tourist numbers during the summer season.
According to TotalCroatiaNews, recent figures from the Tax Administration indicate positive growth in the fiscalised turnover of applicable businesses, supporting the positive outlook for the tourism sector.
The fiscalised turnover refers to the revenue generated by businesses that issue fiscal receipts for transactions, offering insights into the financial performance of the tourism industry. Card and cash payments in Croatia have also shown an upward trend, with an increase from less than €117 million last month to €171 million, representing a growth rate of approximately 46%. Similarly, comparing the first five months of this year with the same period in 2022, fiscalised turnover has risen from €275 million to €403 million, reflecting a growth rate of around 46%.
It is important to note that the increase in traffic and revenue is partially attributed to higher prices in 2023, which contribute to the overall revenue growth in the sector.
In May 2023, the hospitality sector reported a turnover of over €290 million, a nearly 30% increase compared to approximately €224 million in the same month of 2022. The number of bills issued during this period saw a modest increase of less than 5%. Cumulatively, restaurant owners have reached around one billion euros in fiscalised turnover (€999 million) from the beginning of the year until the end of May, representing a significant 31% increase compared to the same period last year. This growth was achieved with an 8.4% increase in the number of bills issued.
These figures indicate a positive start to the tourist season in Croatia, not only in the accommodation and hospitality sectors but also in related areas such as taxi services and transportation. In May, fiscalised traffic in the taxi services sector exceeded €12.3 million, a notable increase compared to the figures of €9.1 million in April and €8.5 million in March.
Additionally, state statisticians have conducted a quick assessment, revealing that consumer prices in May experienced a monthly average increase of 0.5%. However, the annual inflation rate fell below eight percent due to a drop in energy prices by three percent, while the category of food, beverages, and tobacco continues to exhibit a double-digit annual growth of 13.5%.
By fLEXI tEAM