- Posted by Christopher Ledsham
- On 17th June 2016
- Croatia, investment, tourism infrastructure, Zhejiang
Chinese outbound tourism established itself as a key economic driver at a recent China-Croatia business summit held in the Croatian capital Zagreb on Monday June 30th, 2016.
The event was co-organised by the Chinese Embassy in Zagreb, the Croatian Chamber of Economy (HGK) and the Chinese Council for the Promotion of International Trade (CCPIT) and saw 50 Croatian companies meet with 100 business delegates from China’s eastern Zhejiang province, renowned for the "Zhejiang model" of investment, which integrates an entrepreneurial, small-business approach and large-scale public infrastructure funding.
Amidst wider discussions regarding the development of bilateral trade, cooperation and investment, co-organiser Wang Jinzhen, vice-chairman of the CCPIT expressed that, on the back of steadily growing numbers of Chinese outbound tourists visiting Croatia, Chinese investors were taking great interest in the potential for growth in Balkan state’s tourism infrastructure.
Wang placed strong emphasis upon Croatia’s beneficial geographical location, particularly citing its coastline, stating: “Croatian ports are near neighbouring countries and therefore to the bigger European market. This is an advantage for investments in infrastructure.” Ports in the towns of Rijeka and Ploce had previously been earmarked for investment by Chinese companies interested in shipping Chinese exports to Europe.
On top of development in the tourism industry and associated infrastructure, areas such as Croatian agriculture, da and pharmaceuticals were considered to be primed for Chinese investment. Croatia and China’s total volume of trade was calculated to be USD 660 million in 2014, with Croatia receiving importing eight times as much from China as it exported to it.
In a similar manner to many smaller central and eastern European states, Chinese outbound tourist numbers in Croatia, although modest, are increasing at a rapid rate. In 2015, Croatia welcomed 87,884 Chinese arrivals, representing a 48.6% year-on-year increase on 2014’s total of 59,147. This pattern looks to continue in 2016; in the first quarter of 2016, typically Croatia’s slowest tourism period, 6,014 Chinese nationals visited the country, representing a 40.8% year-on-year increase.
COTRI China Outbound Tourism Research Institute provides expert insights into the worldwide developments of China’s outbound tourism market. As Chinese outbound tourists are travelling to a large range of destinations, our publications cover a number of different regions. Important Chinese visitor activities are analysed, and detailed insights are presented.
With COTRI’s insights you can create a successful business strategy with in-depth market insights, comprehensive qualitative analyses, and future prospects. The recently published Spring 2016 Edition of the COTRI Market Report features in-depth analysis of the developing trends in Chinese outbound tourism, supported by a wealth of qualitative and quantitative statistical research.