Valamar with the highest total revenue, Plava laguna with the highest profit

In Croatia, in 2024, there were 14.2 thousand entrepreneurs operating in the accommodation, food preparation, and serving sectors, generating a total of 7.1 billion euros in total revenue, which is 13.4 percent more than in 2023, while their total net profit increased by 58.5 percent to 517 million euros, according to Fina data.

The Financial Agency (Fina) published these data from processed annual financial reports on Monday, as it does every year, on the occasion of World Tourism Day (September 27), with a comparison of their data showing that in 2024, about 500 more entrepreneurs operated in this sector than in 2023.

In 2024, there were nearly 91 thousand employees across all entrepreneurs, which is an increase of 8.6 percent compared to 2023, and their average monthly net salary amounted to 1,046 euros, or 12.8 percent more compared to 2023, and 10.7 percent less than the average salary of employees in the entire Croatia, which was 1,171 euros last year.

The increase in total revenue to 7.1 billion euros in 2024 was accompanied by an increase in total expenses to 6.5 billion euros or 10.9 percent.

Entrepreneurs in hospitality and tourism in 2024, according to Fina data, achieved a total profit of 740.1 million euros and 223.2 million euros in losses, resulting in a total net profit of 516.9 million euros, which is 58.5 percent more than in 2023 when it amounted to 326.2 million euros. Fina also notes that the loss in 2024 in this sector was reduced by 34.5 percent compared to 2023.

One of the few indicators from Fina regarding the operations of these entrepreneurs that declined in 2024 compared to 2023 was their gross investments in new fixed assets, which were down by 4.2 percent, amounting to 395.7 million euros.

Still the most entrepreneurs and employees in Zagreb

According to the business headquarters, in the accommodation, food preparation, and serving sectors, the most entrepreneurs in 2024 were in the City of Zagreb, with just over 3,200, followed by Split-Dalmatia County with just over 2,300, while Istria and Primorje-Gorski Kotar County were very similar in number, each having just over 1,400 such entrepreneurs.

In the City of Zagreb, there were also the most employees among entrepreneurs in this sector, more than 22.7 thousand, followed by Istria with 15.7 thousand and Split-Dalmatia County with more than 12.8 thousand employees.

Valamar with the highest total revenue

In terms of total revenue in 2024, there were no changes among the strongest companies, with Valamar Riviera in first place with 331 million euros, followed by Maistra with 244.6 million euros.

In third place in 2024, as in 2023, was Globalna hrana with a total revenue of 232.8 million euros, the only non-hotel company among the top ten, while Plava laguna was fourth with 225.6 million euros in total revenue, and Imperial Riviera was fifth with 114.1 million euros.

The top ten by total revenue also includes Arena Hospitality Group, Sunce hoteli, HUP-Zagreb, Adriatic Luxury Hotels, and Jadranka turizam.

The highest profit of the period was achieved by Plava laguna, with 57.2 million euros, followed by Maistra with 32.7 million euros, and Valamar and Globalna hrana with 25.9 million euros and 25.4 million euros, respectively, while other companies in the top ten had profits below 20 million euros.