The Economic Environment of the Media Market in Croatia 2023

January 1, 2023, was historically important for Croatians as we joined the Schengen Area and adopted the euro. Even though there is a national perception that all prices have increased significantly, inflation in 2023 began to decrease on a monthly basis.

On a yearly basis, inflation dropped from 10.7% in 2022 to 8.4% in 2023. Monthly inflation also fell from 12.7% in December 2022 to 5.4% in December 2023. The main reason for the lower inflation rates is the global deflation of energy prices. Croatia faced a shortage of workforce, and 2023 saw a 19% increase in immigrants, most of whom were employed by the construction industry. There were no major economic pressures on the media market, as advertising budgets increased, and media businesses operated in a regular fashion.