Croatians second hardest hit by financial hardship in EU

Zagreb

A new study by Eurofound has highlighted the growing financial struggles in Croatia, with 45% of citizens finding it difficult to cover basic living expenses.

This places Croatia in second place among the worst-affected countries in the European Union when it comes to financial hardship.

Only Greece has a higher percentage, with 55% of its population reporting serious financial strain, HRT reported.

Other EU countries where a significant portion of the population faces similar difficulties include Latvia and Estonia (41%), as well as Hungary and Cyprus (40%). Meanwhile, the EU average stands at 32%.

On the other end of the scale, Luxembourg has the lowest percentage of financially struggling citizens, with only 17% reporting difficulties.

Germany, the Netherlands, and Austria also rank among the countries with the least financial hardship.

Rising Costs in Croatia

The Eurofound findings come at a time when Croatians are increasingly feeling the impact of rising living costs.

Prices for groceries, rent, and other everyday expenses have surged, making it harder for many to maintain a normal standard of living.

Experts warn that urgent measures are needed to improve financial security for a large portion of the population.

According to Numbeo, the world’s largest cost-of-living database, the estimated monthly expenses for a family of four in Croatia are €2,608.40 (excluding rent), while a single person needs around €745.00 per month.

In the capital, Zagreb, the average monthly cost for a family (excluding rent) is slightly lower at €2,596.40, while a single person requires around €751.40.

Rental prices have also risen significantly. As of early 2024, the average rent per square metre in Zagreb ranges between €12-15. This means a 50m² apartment would cost between €550-750 per month.

The medium net salary in Croatia is around €1,150 per month.