- Croatian firms maintain high investment levels, are strongly integrated into international trade and perform above the EU average on gender balance in senior management
- Despite strong engagement in trade and relatively favourable access to external finance, Croatian firms lag EU peers in innovation, advanced digitalisation, generative AI adoption and climate-related investment
- To safeguard long-term competitiveness, Croatian firms need to accelerate innovation, digital transformation and green investment
Croatian companies continue to invest at high levels, are deeply integrated into international trade and perform strongly on gender equality in senior management, according to the European Investment Bank Investment Survey (EIBIS) 2025 country overview for Croatia.
The share of firms investing remains high and slightly above the EU average and firms have strong positive expectation on future investment. Construction and services plan the strongest increases, while infrastructure and manufacturing are more cautious. Firms are relatively optimistic about external finance and their own sector outlook, while lagging their EU peers in innovation, digitalisation and climate-related investment.
“Croatian firms are clearly committed to investing and expanding capacity, and they stand out for their strong engagement in trade and relatively advanced gender balance in senior management. To safeguard competitiveness, it will be crucial to support them in accelerating innovation and digitalisation, while making the green transition a strategic opportunity rather than a perceived burden. Croatia has a lively technology hub that it can count on. Finding ways to enhance spillovers to the rest of the economy will be crucial for future competitiveness”, said Chief Economist of the European Investment Bank Debora Revoltella.
Ahead of EU peers on investment and gender balance
Nine in ten Croatian firms invested in the last financial year, above the EU average. Croatian firms are rather positive on future investment and a relatively large share plans to prioritise expansion of production capacity in the coming years. Croatian firms are more positive than the EU average on external finance, which is mainly bank-based, and sector prospects. While financing constraints are slightly above the EU average, dissatisfaction with the cost of finance is lower, and a comparatively high share of firms has benefited from grants and subsidies.
Croatia outperforms the EU average on gender balance in senior management: in 41% of firms, women account for at least 40% of senior managers, versus 25% in the European Union, with services leading. However, the share of firms where women own at least half of the company is similar to the EU average, and sectors such as construction still offer significant scope for progress.
Around eight in ten Croatian firms engage in international trade, well above the EU average, underscoring strong integration into European and global value chains, especially in manufacturing. The main obstacle for trading firms is navigating differing regulations, standards and certifications, including within the European Union, which is perceived as more challenging than logistics, transport or customs. In response to supply chain volatility, Croatian firms are more active than EU peers in deploying digital tools for inventory and input tracking to improve resilience and efficiency.
The EIBIS Survey 2025 for Croatia shows that most firms recognise physical risks from climate change, especially extreme weather, but fewer have taken concrete adaptation measures or invested specifically in climate resilience compared with EU counterparts.
Croatian firms are more likely to have conducted energy audits, yet fewer have explicit emissions reduction targets. While many have acted to cut emissions through waste minimisation, recycling and energy efficiency, overall climate investment remains below the EU benchmark, and many expect stricter climate standards to have limited impact on their business.
Croatian firms are less likely than EU peers to invest in new products, processes or services, and the share of innovators has declined. This is mirrored in lower adoption of advanced digital technologies and fewer firms using multiple digital tools. Only about one in five firms systematically uses generative artificial intelligence, well below the EU average. Among users, AI is mainly applied to internal processes rather than product development, HR or customer-facing functions, indicating substantial untapped potential for productivity and value-added growth.
The EIB Investment Survey is conducted annually and provides a representative picture of investment activities, financing conditions, innovation and climate-related actions across EU firms and in the United States. The 2025 wave for Croatia is based on telephone interviews with 401 firms, carried out between April and July 2025. The full report and data are available on the EIB website.
The full country report about Croatia is available here
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.
All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank's commitment to fostering inclusive growth and the convergence of living standards.