MONTENEGRO TO BE THE FASTEST GROWING TOURISM MARKET

Nils Kraus - May 30, 2011
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A number of travel and tourism organizations have earmarked Montenegro for massive improvement in its tourism industry. Indeed, it is expected to be the number one in terms of growth over the next ten years.

Having emerged from the horrors of the Yugoslav war and established itself a piece of the new complicated map of the former Yugoslavia, Montenegro can look forward to a bright economical future thanks to the massive growth of its tourism industry.

The country is expected to have the fastest growing tourism industry market in the next ten years. This statement was the conclusion of discussions and declarations at the 11th Global Travel and Tourism Summit in Las Vegas as well as the research of the World Travel and Tourism Council along with Oxford Economics.

The latter organization has stated that Montenegro is set for the fastest investment growth of all countries and will only be second to Brazil in terms of export growth. The GDP of the country is 8.1% this year, whereas it is expected to grow to 14.8% by 2021, meaning a growth rate of 10.9% per annum.

The double-digit growth rate has been met in Montenegro by an influx of hotel chains and the promotion of “Porto Montenegro” as Europe’s new Monaco, famous for its spectacular yachting scene.

It is not unusual for today’s Europeans to spread their wings further and explore beyond their traditional destinations, yet Montenegro truly offers a close and relatively untouched European destination with almost everything to offer.

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