068 - Investment Opportunities in Croatia – The Diaspora at the Forefront of Improving the Investment Climate and Spearheading Foreign Investment
The only consensus in Croatia today is around the fact that only foreign investment can bring Croatia out of its deep, long lasting recession. Essentially, I want to make the point that the Diaspora is in a unique position to kick start investment because they have the X Factor of patriotism and close ties to the country since it their homeland.
Foreign investors will come when the investment climate is much improved – “Build it and they will come.” The Diaspora need not wait for the investment climate to improve because they can contribute to “building it” ie. Whilst they are entitled to be profit motivated like all other foreign investors, they have an added motivation, if not obligation, unlike other foreign investors, to persist and ensure that their investments are handled properly.
It will only take a few success stories to attract other foreign investors and the Diaspora will have been pioneers in changing and improving the system. I am not saying that the Diaspora has to take unnecessary risks but their patriotism will be the motivator to take greater risks for greater rewards whereas other foreign investors may see the rewards but will not be prepared to take any risk until others have taken the lead.
Paper presented at the First Croatian Emigration Congress, Zagreb 23 - 26 June 2014.