Hospitality industry in Croatia under the influence of the Covid-19 pandemic: The 2020 financial analysis
The dramatic negative impact of the crisis caused by the Covid-19 pandemic on the Croatian hospitality and tourism sector will have far-reaching consequences. The decrease in operating revenues by 44%, EBITDA by 86%, and the number of employees by 15% in just one year (2020) compared to the last year (2019) significantly affects the competitiveness of the Croatian hospitality sector in the medium term. Keeping in mind the high contribution of tourism to the national economy, this will impact the overall economic potential of Croatia. The two key challenges are how to realise the tourism investment potential and attract employees in the recovery period.