Montenegro in a nutshell
Montenegro, meaning “Black Mountain,” is a small country situated in Southeastern Europe, along the Adriatic coast. It is often referred to as the “Gem of the Balkans.” Montenegro boasts stunning natural beauty, rich cultural heritage, and fascinating historical landmarks. This is why tourism plays a significant role in Montenegro's economy, contributing about 25% to the country’s GDP. Every year, the number visitors it's three times its population of approximately 630,000.
Outstanding business features
- A stable economy, with ongoing and planned infrastructure upgrades to bring the country in line with Western European standards.
- Governmental strategic focus on increasing power generation, especially from renewable sources, expanding the ICT sector, and large-scale tourism.
- Pro-business environment: Foreign investors receive national treatment and can benefit from the lowest tax rates and property taxes in Europe.
Economy and infrastructure
Montenegro's economy and currency have remained stable in recent years. Since 2002, the country has adopted the euro as its official currency. It has been a member of the World Bank and the International Monetary Fund (IMF) since 2007. As a participant in the Stabilization and Association Agreement (SAA), it is committed to maintaining an open market, increasing private investment, and protecting property rights, all of which are expected to further its economic development.
