Experts of the Croatian Chamber of Commerce (HGK) note that tourism is subject to exogenous factors, weather conditions, geo-political instabilities and developed countries try to avoid high dependance of the economy on tourism results.
For instance, foreign currency earnings from tourist trade made up a mere 1% of GDP in the United States, 1.9% in France, 1.5% Great Britain, 1.1% in Germany and 1.1% in Italy in 2014.
As for the European Union, this stood at 2.3% of GDP.
It is beyond a doubt that the tourist trade and foreign currency revenues from that sector contribute to economic growth and economic stability and that there is still room in that segment for further development, however, a rhetorical question may be asked about the calculation of that revenue and of the presence of the grey economy, according to an HGK analysis.
The net foreign currency revenues from consumption of foreign guests in Croatia in 2014 came to EUR 6.78 billion in 2014, 1.1% more than record highs in 2008.
According to data provided by the World Tourism Organization, in 2004, total revenue from global international tourism totalled USD 1,245 billion, 4% up from 2013.
Chinese tourists were top consumers, spending USD 164.9 billion, while U.S passport holders spent USD 110.8 billion and the Germans USD 92.2 billion.