Investments in Croatia's tourism sector in 2013 to total HRK 2.6 billion

Overall investments in Croatia's tourism sector in 2013 will amount to HRK 2.6 billion, of which nearly two billion will be made by the private sector, which is 124 percent more than last year, Tourism Minister Veljko Ostojic told a news conference adding that the investments in the private sector would be made by 25 biggest hotel companies. This is twice as much as last year.

The tourism ministry came up with these figures by polling tourist companies and the public sector (counties, towns, tourist bureaus), which according to the assessments will this year invest HRK 200 million in tourism. When adding the rest of the estimated investments in the tourism sector, amounting to HRK 400 million to those two billion from the private sector and 200 million from the public sector, the amount of HRK 2.6 billion is arrived at in that case.

According to the minister, this is the result of attractive financial conditions and an acceptable credit line provided by the Croatian Bank for Reconstruction and Development (HBOR) which last year issued 17-year-long loans under special conditions for the tourist sector with interest rates amounting to between 2.3 and 5 per cents and a four year grace period. The minister announced new privatisation models for the remaining 13 state-owned tourist companies in the first quarter of this year. (Hina)