Introduction of the Euro in 2023 and Possible Effects on Tourism in the Republic of Croatia

Abstract

On July 1, 2013, Croatia became a member of the European Union and thereby also committed to introducing the euro as its national currency as soon as it is ready. When Croatia’s macroeconomic situation began to de­velop in a positive trend, it entered the European Exchange Rate Mechanism (ERM II) on July 10, 2020, a kind of waiting room for the euro that prepares the country for a major change. Although Croatia is a deeply euroized coun­try, months of adjustment to the euro await it in terms of adjusting prices, in­formation and communication channels, and preventing possible crises and shocks that may affect the country’s economy during the conversion. In order to minimize shocks, efforts are being made to fulfill the Maastricht criteria. All possible positive and negative consequences that can be expected are listed, and through a survey on the perception of citizens, their level of information about the transition to the euro is shown, as well as fears such as price increas­es, inflation, loss of national sovereignty, as well as positive consequences that will reflect on tourism