Foreign investment floods into Montenegrin tourism

Foreign investment floods into Montenegrin tourism Montenegro is a developing tourism destination

After gaining independence in 2006, Montenegro, a country half the size of Wales and with a population of just 625,000 has attracted over €4 billion in foreign investment, and now has investors from over 100 countries around the world.

The latest property development funded by British private equity company, the Boka Group - who have themselves managed over €1 billion of development value in the country, celebrated the start of construction on its latest scheme of luxury villas overlooking Kotor Bay last week, marking the start with a foundation stone ceremony attended by the mayor of Kotor.

Speaking recently minister of sustainable development and tourism, Branimir Gvozdenović said: “It is an easy country in which to do business and visit.

“We want to focus on luxury tourism and achieve a high standard of service to give us a competitive advantage.

“We are very proud that we now have investors from 107 countries around the world.

“Only two years after independence, foreign direct investment had increased close to 1 billion euro, compared to ten million euro only seven years before.”

The minister also stressed: “Not only will Montenegro be able to offer top quality accommodation, it also offers a diverse experience- in a short expanse of time, you can visit the coast, the canyons inland, Lake Skadar and the mountains.”