engleski

Financial Management in the Croatian Privatization Policy - Growth or Vision

During the transition period Croatian tourist sector stagnated. Transferring Croatian tourism only on the information about the number of tourist nights doesn't take into consideration financial aspects and profitability. That was the authors' main reason for focusing on the profit and loss analysis in the period of 1996 - 2000 and the financial indexes and relations between the described categories. On the other hand, very high level of hotels credit loans in the same period confirms that the short and long term obligations to the banks and suppliers caused enormous losses for the hotel industry. Authors present that privatization process in Croatia has no reflection on the hotels profitability results. That explains theirs low position in comparison with the results of the other transitional countries.

Tourism; privatization process; profitability index; debt coefficient

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