Croatia - Market Opportunities Croatia - Opportunities
As it endeavors to fully integrate into NATO and the European Union, Croatia primarily needs technologically advanced, cost-effective U.S. goods and services that will help modernize its defense capabilities, increase energy independence, and improve governance and production. In particular, Croatia’s defense, energy, information and communication, and medical industry sectors would benefit from U.S. exports and investment for Croatia to remain a safe, democratic, and prosperous country that serves as an example for others in the Western Balkans that are yet to join the EU or NATO.
Croatia is replacing its outdated fighter jets, helicopters, and defense infrastructure with modern, NATO-compatible equipment. It is also looking to become a regional import hub of LNG, and is building a floating LNG terminal at Krk Island, supported by EU funds. Croatia’s mild, Mediterranean climate with high solar coverage, as well as its strong tourism industry makes it attractive to U.S. firms supplying Distributed Energy Resource technologies (such as photovoltaic units and advanced batteries located in households and businesses behind the meter, connected to a smart grid).
U.S. firms can also leverage their expertise with advanced information and communication technologies such as in the Internet of Things, Artificial Intelligence, and Blockchain. The Croatian government is digitalizing administration, and Croatian cities seek smart solutions to better manage their resources. EU development funds abundantly support investments in smart governance, mobility, and production. A total of $300 million of EU funds has been allocated to support advanced manufacturing in Croatia.
Croatia’s privately-owned clinics and hospitals are steadily increasing in number and size, providing a sound alternative to the struggling public healthcare system. This trend could be further boosted by the development of medical tourism, an area in which Croatia has excellent potential, given the high quality of its physicians, their relatively low wages, and the attractiveness of the country as a destination for tourists and retirees.