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Croatian Community Around the World Sending Back €1.1 Billion Yearly to Croatia

CroatiaThe Croatian community around the world sent back around 1.1 billion euros to Croatia, only via official channels such as banks and cash transfer firms such as Western Union, last year, writes daily Vecernji list

According to calculations by economist Adela Poprženović, the amount the Croats abroad send back home puts them amongst the top 10 most generous in the world. The Croatian community abroad is hands down the biggest ‘foreign’ investors in the country, easily surpassing Austria, who according to data from the Croatian National Bank, are the largest, investing 683.6 million euros in 2012.

“Croatian emigrants sent back money to the homeland for two reasons – one as kind of a retirement fund, with many investing in property that they plan to move back and live in, and the other is to help out family back in the homeland,” said Poprženović.

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