The Role of Financial Technology in Croatia’s Tourism Sector
The Role of Financial Technology in Croatia’s Tourism Sector

Author(s): Maja-Marija Prevolšek, Anja Tkalčević, Gordi Sušić
Subject(s): Tourism, ICT Information and Communications Technologies
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Croatia’s tourism sector; Financial technology; FinTech; Smart tourism; Competitiveness
Summary/Abstract: This study explores the role of financial technologies in the Croatian tourism sector, highlighting their impact on operational efficiency, tourist experience, sustainability and competitiveness. To shed more light on the role of FinTech, motives for its adoption, advantages and potential challenges, authors constructed and conducted a survey that was distributed to relevant tourism industry participants in Croatia. Survey-obtained data was then used to compare the results of focus participants in light of the conducted literature review. Results of a survey point to a correlation between the size of the tourism companies and the level of familiarity with the concept of smart tourism and the implementation of innovative solutions. Highly categorized facilities often show a greater tendency to adopt frontier technological options to meet the high expectations of their guests. The results also show that the majority of participants are planning or considering further expansions or investing in FinTech solutions to remain competitive. In addition to own development and the need for continuous education, overall governmental medium-term development strategy and proper guidance are also recognized as preconditions for the industry’s sustainable future growth.

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