Croatia Hospitality Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 15.56 Billion |
| Market Size (2029) | USD 19.45 Billion |
| CAGR (2024 - 2029) | 4.56 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Croatia Hospitality Market Analysis
The Hospitality Industry In Croatia Market size is estimated at USD 15.56 billion in 2024, and is expected to reach USD 19.45 billion by 2029, growing at a CAGR of 4.56% during the forecast period (2024-2029).
The hospitality industry in Croatia has been a significant contributor to the country's economy and a key driver of tourism. Croatia became the most prominent tourist destination due to its stunning coastline, historic cities, cultural attractions, and natural beauty. Croatia has experienced a steady growth in tourist arrivals over the years, with a significant increase in international visitors.
The country attracts travelers such as sun-seekers, history enthusiasts, nature lovers, and yacht enthusiasts. Coastal areas of Croatia are trendy during the summer, while cities like Zagreb and Zadar offer attractions and cultural experiences year-round.
Croatian cuisine has gained an essential component of the hospitality industry. Traditional dishes, such as seafood, grilled meats, and regional specialties, are popular among visitors. Culinary tourism has increased, with tourists seeking authentic food experiences, wine tours, and farm-to-table experiences.
Croatia Hospitality Market Trends
The European Grown Brands are Dominating the Market
- The hospitality industry in Croatia has been a significant contributor to the country's tourism sector, which has experienced steady growth in recent years. While it is true that European brands have a prominent presence in the Croatian hospitality market, it is important to note that both European and domestic brands play significant roles in shaping the industry.
- Croatia's tourism industry has benefited from its stunning coastline, rich cultural heritage, and diverse natural landscapes. As a result, major European hotel chains and hospitality brands have recognized the potential of the Croatian market and invested in establishing their presence there. These brands bring with them established reputations, standardized services, and international marketing networks, which have helped attract a broader range of tourists.
- The dominance of European brands in the Croatian hospitality industry can be attributed to several factors. Firstly, these brands often have a long history of operating in the tourism sector and have developed expertise and brand recognition over time. This gives them a competitive advantage when entering new markets.
- Additionally, European brands have the financial resources and management expertise to invest in large-scale hotel projects, making them more capable of developing and operating high-end resorts and luxury properties.
- However, it is worth noting that domestic Croatian brands also play a vital role in the hospitality industry. Many locally-owned hotels, guesthouses, and restaurants cater to both domestic and international tourists, offering a more authentic and localized experience. These establishments often showcase Croatian culture, cuisine, and traditions, appealing to travelers seeking an immersive and unique experience.
- Furthermore, the Croatian government has been actively supporting the development of the domestic hospitality sector through various incentives and initiatives. This support has encouraged the growth of homegrown brands, leading to an increasingly diverse hospitality landscape in Croatia. While European brands have a significant presence in the Croatian hospitality industry, it is a dynamic and evolving market with contributions from both domestic and international players.
- The interplay between European and domestic brands enriches the sector, offering tourists a wide range of options to suit their preferences and contributing to the overall success of Croatia's tourism industry.
Tourism's Surge Fuels Croatia's Hospitality Market
Tourism's surge in Croatia is a pivotal force propelling the nation's hospitality market. The influx of tourists fuels a heightened demand for accommodations, spanning from hotels, resorts, and apartments to guesthouses and vacation rentals. This surge drives the growth of Croatia's hospitality market, compelling businesses to cater to these visitors' needs. Tourism stands as a linchpin in Croatia's hospitality market, exerting a profound influence on the nation's economy, infrastructure, and cultural fabric. Croatia's breathtaking coastline, idyllic islands, cultural heritage, and natural wonders magnetize millions of global tourists annually, spurring a surge in demand for hospitality services and lodgings.
This tourism boom in Croatia has spurred notable investments in hotel developments, resort complexes, and vacation rentals nationwide. Coastal gems like Dubrovnik, Split, and Istria are especially sought-after, blending historical allure, scenic vistas, and recreational offerings. This surge in tourist arrivals has spurred a diversification of accommodations, ranging from opulent hotels and boutique resorts to budget-friendly hostels and private villas catering to the varied tastes and budgets of travelers.
Croatia's strategic positioning at the heart of Europe, bolstered by enhanced transportation infrastructure and connectivity, has amplified its allure for international visitors. The nation's membership in the European Union and Schengen Area has streamlined travel procedures, fostering cross-border tourism and luring visitors from neighboring nations and beyond.
Croatia Hospitality Industry Overview
The hospitality industry in Croatia is dominated by domestic players and covers almost 70% of the market. The main barrier for medium international players to enter the market is majorly the stringent policies (Croatia stood at 123rd place in ease of doing business rankings and 159th in dealing with construction permits) and the high seasonality tourism. Whereas Croatia stood at 27th place in the travel and tourism competitiveness index, which is motivating a majority of the players to spread their operations in the region. Some of the major players in this market are Amadria Park, Bluesun H&R, Liburnia Riviera Hoteli, Plava Laguna, and Valamar Riviera.
Croatia Hospitality Market Leaders
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Amadria Park
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Bluesun H&R
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Liburnia Riviera Hoteli
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Plava Laguna
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Valamar Riviera
*Disclaimer: Major Players sorted in no particular order
Croatia Hospitality Market News
- January 2023: Bluesun Hotels & Resorts adopted Shiji's Infrasys point-of-sales (PoS) systems across all their Hotel F&B Outlets.
- January 2022: The Croatian Plava Laguna company spent 2022 strengthening its brand, and there is quite a change coming to its hotels.
Croatia Hospitality Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Tourism
4.2.2 Digital Adoption
4.3 Market Restraints
4.3.1 Labour Shortage
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Segment
5.2.1 Service Apartments
5.2.2 Budget and Economy Hotels
5.2.3 Mid and Upper mid scale Hotels
5.2.4 Luxury Hotels
6. COMPETITVE INTELLIGENCE
6.1 Market Concentration Overview
6.2 Company profiles
6.2.1 Valamar Riviera
6.2.2 Plava Laguna
6.2.3 Liburnia Riviera Hoteli
6.2.4 Bluesun H&R
6.2.5 Amadria Park
6.2.6 Meli Hotels International
6.2.7 Falkensteiner
6.2.8 Park Plaza hotels
6.2.9 Sol Hotels Meli
6.2.10 Marriott International*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Croatia Hospitality Industry Segmentation
The hospitality industry refers to a broad sector encompassing businesses involved in providing accommodation, food, beverages, and entertainment services to customers. It includes hotels, restaurants, bars, resorts, event venues, and other establishments that focus on ensuring a positive and enjoyable experience for guests and patrons.
The hospitality industry in Croatia is segmented by type, and segmented. By type, the market is sub-segmented into chain hotels and independent hotels. By segment, the market is sub-segmented into service apartments, budget, and economy hotels, mid and upper-mid-scale hotels, and luxury hotels. The market size and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Segment | |
| Service Apartments | |
| Budget and Economy Hotels | |
| Mid and Upper mid scale Hotels | |
| Luxury Hotels |
Croatia Hospitality Market Research FAQs
How big is the Croatia Hospitality Market?
The Croatia Hospitality Market size is expected to reach USD 15.56 billion in 2024 and grow at a CAGR of 4.56% to reach USD 19.45 billion by 2029.
What is the current Croatia Hospitality Market size?
In 2024, the Croatia Hospitality Market size is expected to reach USD 15.56 billion.
Who are the key players in Croatia Hospitality Market?
Amadria Park, Bluesun H&R, Liburnia Riviera Hoteli, Plava Laguna and Valamar Riviera are the major companies operating in the Croatia Hospitality Market.
What years does this Croatia Hospitality Market cover, and what was the market size in 2023?
In 2023, the Croatia Hospitality Market size was estimated at USD 14.85 billion. The report covers the Croatia Hospitality Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Croatia Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Croatia Hospitality Industry Report
Statistics for the 2024 Croatia Hospitality market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Croatia Hospitality analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
