Croatia’s Richest Grow, Despite 7 Year Slump
- New Europe Investor
- March 12, 2015
Croatian newspaper, Novilist reports the number of multi-millionaires in the country is on the increase. The newspaper borrowed statistics from a report undertaken by Knight Frank.
Multi millionaires are defined as those families worth more than $30 million.
The rise in the numbers are despite the Croatian economy going through a continuous economic recession, that in 2015 entered its seventh year.
The Croatian economy has not seen growth since 2008. 12% of the country’s GDP has been erased in this time, and unemployment is currently close to 20%.
Currently there are 221 families worth more than $30 million, one more than in 2013.
22 of these families have a net worth of more than $100 million.
In 2004, Croatia had 130 families worth more than $30 million.
The 260 wealthiest Croats combined are worth over $30 billion, equating to 9% of the economy’s GDP ($330).
Whilst the statistics of rising inequality are not completely out of line in terms of global figures, they are unusual in that Croatia has been in a state of recession for over half a decade.
Croatia’s Wealthiest Individual
Forbes magazine released a rich list for Croatia in 2013.
In it the magazine listed Ivica Todoric as the country’s wealthiest by some distance, being worth 4.4 billion kuna or $610 million.
He owns Croatia’s largest supermarket chain, Konzum.