Having been hit by the coronavirus pandemic, German companies in Croatia are pessimistic about the future. That’s the conclusion of a survey conducted by the German-Croatian Chamber of Commerce and Industry (AHK) of its members. The survey shows that the coronavirus crisis is having an impact on all aspects of business in Croatia. Almost 90 percent of AHK members say their medium-term economic situation is bad, while one-third expect a drop in business of more than 50 percent. More than 78 percent of AHK members expect a drop in demand for products and services, 72.5 percent anticipate travel restrictions and almost 65 percent a cancellation of orders. More than half of the companies surveyed foresee cancellations to extend to fairs and other events. Of particular concern is the fact that 62.7 percent of AHK members expect to delay or cancel investments due as a result of the pandemic. That figure rises to 84 percent if the companies planning to cut investments are included. It’s also alarming that 55 percent of all companies will likely fire staff within the next 12 months.
