Montenegro – The Star of the Mediterranean

Montenegro – The Star of the Mediterranean

According to the latest report by the European Travel Commission, Montenegro is the Star of the Mediterranean in the first quarter of this year. As Croatian Jutarnji list writes, according to the European statistical data, in the first three months of 2019, Montenegro recorded a 29% increase in overnights stays and a 49% increase in arrivals.

Experts say that Montenegro has serious comparative advantages. Interlocutors of Jutarnji list point out that country is strong thanks to investment packages.

“Licenses for investors are provided in only several months, as well as a waiver from duties. Besides, fuel for boatmen is cheap”, Jutarnji writes.

State Secretary at the Montenegro Ministry of Sustainable Development and Tourism Damir Davidović said in a statement to the Croatian media that, with the exception of one year, Montenegro has been continuously increasing its financial turnover for the last 15 years.

“In 2019, we opened 27 new hotels, 24 of which are four or five stars. Three multi-year projects worth three billion euros are ongoing in the country. These are Luštica Bay, a resort town with a marina near Kotor, the Porto Montenegro Marina, and the Portonovi project, which will open the first One and Only hotel in Europe next year, with an investment of EUR 1.1 billion so far”, Davidović said.

He explained that Montenegro now has 43,000 beds in collective accommodation facilities, of which 52 per cent relate to four or five-star categories. Investors were also offered significantly better tax conditions, he added. While the country’s VAT is 21 per cent, on hotel accommodation it is at seven per cent, while for five-star hotels it is seven per cent on all services.

Davidović also said that the Aman Group operates hotels in Montenegro, and the same investors, as he announced, are planning another five-star hotel at that location, as well as a new high-class hotel in Žabljak./ibna