Croatia Property Investment News

Budget airline announces Croatian service

Low-cost airline easyJet has announced that it will be offering flights to the Croatian city of Split. This will boost the accessibility of the country from the UK, and comes shortly after the announcement by IOL Travel that Croatia has once again seen an increased number of foreign arrivals to the country.

The new services will depart from Bristol International Airport in April 2008, opening up destinations within Croatia to a new market of holidaymakers and second-home owners. Investors in Croatian property have welcomed the step, as it is expected to generate increased demand for holiday rental accommodation as well as strengthening the resale market.

Indeed, according to statistics supplied by IOL, between January and September 2007 the number of foreign arrivals to the country was 6% higher than during the same period of 2006. Those in the tourist industry in Croatia have already noted a boost in profits. In August this year, Adriatic Luxury Hotels reported a rise in profits of up to 15% for the year, with excellent advance bookings for the rest of the year.

The growth in the tourist industry has been witnessed across the board, with service providers from both the luxury and budget ends of the market enjoying an increase in demand. The growth is also in line with the target set by the Croatian National Tourist Board of 11 million foreign visitors a year by 2010.

Istria is usually considered second only to Zagreb in terms of economic importance to the country – a reflection of the influence of tourism on Croatia’s economy. Furthermore, according to a recent report, the region of the Istrian County has the most advanced economy of any region in the country. It has the lowest unemployment rate at just 8.4%, and double the national average of exports.

With 8.5 million foreign tourists visiting the country every year, Croatia is the 18th most visited country in the world.