Croatia is also seeing the genesis of a high-end hotel and
resort sector. Last December, Starwood’s Le Meridien Lav opened in Split with
381 rooms, a casino and an 80-berth marina. Officials from Dubrovnik visited
their sister city of Monterey, Calif., last year looking at that city’s tourism
industry and seeking out investors.
Sectors peripherally related to tourism have also experienced
growth. "Lots of people are buying ancient houses on islands and remodeling
them. The real estate business is strong," Jeramaz says. "The wine industry is
strong. Until 10 years ago, there were just a few state-controlled wineries. Now
there are thousands of little ones. We didn’t go in to make a bundle of money—we
wanted to show how to make high-quality wines—but we didn’t want to lose
money."
Despite the possibilities, Jeramaz warns of pitfalls. The
country still struggles with the legacy of corruption under socialism, Jeramaz
says. "We would love to expand, but we can’t find a person to help us. It’s hard
to find a trustworthy person who won’t swindle your money," he says. "There’s a
huge demand for wines there. We could start expanding, but it’s kind of a
headache."
Debra Ryono is the associate managing editor of Worth.
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