Thesis is focused on the research of globalization, and the causes and consequences of the same phenomenon. The concept of globalization is difficult to accurately determine, but most of globalization is described as the world at large. Description of globalization depends largely on the subject, and the aspect which the author examines, for example, on economic, cultural, political or even the communication aspect. Globalization connects distant places, cultures, social relations around the world, changing production methods and division of labor, and the search for cheaper regions of the world for the production and distribution of goods. The impact of globalization leads to the formation of a new economy based on knowledge, economic growth and penetration of technical and technological innovation and communication in all spheres of economy and society in general. It all affects the supply and demand of goods and services, lower prices and increase of competition. Globalization increases influence on economic inequalities in the world, although the national association is greater than ever. The negative side of globalization reflects especially in the countries of Africa, Latin America; Asia and former socialist countries, developing countries. With the globalization the rich ones are getting richer and the poor ones poorer. The positive side of globalization are foreign direct investments, which should reduce the economic disparities between countries. Regarding the Croatia in the process of globalization, it is a small country which can not significantly affect the global movement. It is important to focus and attract foreign investments in Croatia and set up Croatian companies as leaders of investors in South-Eastern part of Europe.