Interview with Kristina Laco for Poslovni dnevnik
Our director, partner, and board member of the Croatian Association of Communications Agencies (HURA) Kristina Laco, in an interview for Poslovni dnevnik, reflected on the increase in revenue and the number of employees, which characterized the operations of all market communication agencies in Croatia during 2022.
Communication agencies, members of HURA, generated a revenue of 306.5 million euros last year, about three percent more than in 2021. In addition to revenue, HURA members, 61 agencies representing more than 80 percent of the total advertising budgets in the country, recorded a seven percent increase in the number of employees and an increase in export revenue. In total, communication agencies, members of HURA, employed 1,364 workers in 2022, and earned 68 million euros in foreign markets.
Kristina Laco says they are very pleased with this growth, especially considering the conditions in which the agencies operated. Namely, after a relative normalization of business following the pandemic, the market faced new challenges resulting from the war in Ukraine – disruptions in supply chains and high, double-digit average inflation in Croatia. “This situation directly affected the increase in all costs of agencies in the market communication industry. At the same time, due to the nature of the job, annual or multi-year contracts with clients at fixed prices, agencies could only make very minor adjustments to their own prices for clients. So, with the total revenue growth of HURA members by about 3 percent and for the first time to more than 300 million euros, we can really be extremely satisfied,” emphasizes Kristina Laco.
The entire interview/article is available at the link.