Having enjoyed steady economic growth following its accession to the European Union (EU) in 2013, Croatia saw an abrupt halt to its development in 2020. With a projected 10% drop in GDP, the depth of the economic trough appears similar to that of the 2008 financial crisis, though optimism remains that this downturn will be shorter as mitigatory factors, particularly Covid vaccines, begin to make themselves felt.
Aside from the global economic impact faced by most countries as a result of the pandemic, Croatia was perhaps most affected by the affect on the tourism sector, which naturally suffered considerably. However, continued progress on vaccinations and the creation of the EU’s Green Pass have bolstered expectations the sector will soon recover (although a similar pre-vaccine reopening of the tourist economy last summer led to a dramatic surge in infections).
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