An Introduction to Montenegro

Montenegro (known in the local language as Crna Gora) is located on the Adriatic coast, below Croatia and opposite the heel of Italy.  It enjoys a Mediterranean climate, yet offers a long winter Ski season (its name means Black Mountain), together with picturesque beaches, lakes, countryside and mountains – all within a couple of hours drive.

Reports claim that this is the only time in history that Europe will take in a final wave of members: largely comprising the remaining ex-Yugoslavian states, reputedly due for membership between2012 and 2020.

Montenegro gained its independence from the State Union of Serbia and Montenegro in May 2006 and became the Republic of Montenegro and has applied for full EU membership as a ‘micro-state’, much the same as Luxembourg.

Montenegro adopted the D-Mark as it currency in 2000 to ensure it would adopt the Euro through the transition period.  In addition, Montenegrin law and statutes are being aligned with EU membership requirements and over 70% of the countries assets (communally held under the old regime) are being privatised. It is the larger foreign investment projects, mostly to do with turism, which is providing a stable level of development confidently bucking the trend of the global economic downturn.

Montenegro is three hours flight from London, one hour drive from Dubrovnik (Croatia), and property prices are estimated at 75% of the price of like for like Croatian real estate.  However, Montenegro is the worlds first ecological state and offers sandy beaches, as opposed to Croatia’s pebble beaches, and low industrialisation.

2011 tourism data from government undoubtedly showed yet another successful season. This years season was sound, with very good winter tourism data, both in the mountains and at the southern region, an excellent pre-season, a quite relaxed high season and a substantial number of arrivals in the post-season.

Montenegro have seen a considerable increase both in the foreign arrivals (4.7%) and nights (6.9%) as compared to the first ten months last year. According to the data of relevant institutions, the increased turnover was recorded by Montenegrin Airports (16% more aircrafts and 8.4% passengers), Montenegro Airlines with increased passenger transport for 17.2%. Also an increased number of vehicles at border crossing points for 4.5%, and the revenues of the “Sozina” tunnel increased for 5.3%. The budget revenues increased 30.55%.

Finally, Montenegro is currently the only sea access point for the state of Serbia and is therefore strategically placed to benefit from the import/export of capital and consumer goods throughout Serbia and Montenegro.