ECONOMY IN THE REGION OF ISTRIA

 

Region of Istria is comprised of 10 cities and 31 municipalities, and has been among the best performing regions of Croatia in 2018, as evidenced by the regional economic power index published by the Croatian Chamber of Economy on the basis of average values achieved over the past three years. The index is 29,3% higher than the average of the Republic of Croatia and an increase of 2% over the 2017 average for the Region of Istria was achieved.
According to the available data in the reference period, the Region of Istria is at the top in reference to the following key indicators: GDP per capita, net profit per employee and reduction of the unemployment rate.
In 2018, there were 11.006 entrepreneurs in the Region of Istria, which is 7,7% more than the year before, employing 55.474 employees.
According to the latest available data from the Croatian Bureau of Statistics, in 2017 the average GDP per capita in the Region od Istria amounted to 14.866,00 EUR, which is 25% more than the average GDP per capita of the Republic of Croatia, while the rate of registered unemployment in 2018 it was 3,7 %.
The key to the success of the Istrian economy is certainly in its diversification and greater investment in growing sectors and the potential for future growth.  According to the available data, the most represented activities in the Region of Istria in 2018 by total revenues were manufacturing industry (24,2%), wholesale and retail trade (23,3%), and accommodation, catering and service (19,9% ). In terms of net profit in 2018, accommodation, catering and service (70,4%), wholesale and retail trade (15,7%) and professional, scientific and technical activities (10,2%) are leading.
Tourism and catering are in constant growth and the largest hotel companies in the Republic of Croatia are based in the Region of Istria. In 2019, there were more than 28,7 million of overnight stays and more than 4,6 million  of arrivals, an increase of 1% and 3%, respectively to the previous year.
Therefore, in the recent period, tourism has been the largest investment sector in the peninsula. This is accompanied by trade and by expanding and improving the offer and considerable investments in new facilities and centers.
The IT sector is also on the rise and the seat of the largest and fastest growing IT company is located in the Region of Istria.