The Development Landscape - Summary*

*Source: Deloitte, International Tax. Montenegro Highlights 2019



  • Political and economic focus on the Tourism & Leisure sector – a wealth of preserved natural assets and historical pedigree.
  • Trend economic growth at 3% p.a., driven by Tourism demand (trend > 5% p.a.).
  • The Path to EU accession benefiting from significant EU Funding throughout the economy.
  • A massive (EU funded) infrastructure investment and upgrade program is already underway – roads, airports, electricity, water.
    A very favourable tax regime (Corp tax at 9%).
  • Euro currency.


  • Re-Branding as a luxury destination (Porto Montenegro, Aman Resorts, Regent Hotels, One & Only Resorts, Chedi Hotels): undiscovered “Wild Beauty”.
  • Creation of “Development Clusters” as the key driver of the niche, luxury growth model.
  • Conservative Zoning & Planning framework, limiting over development.
  • This has allowed Montenegro to escape the ravages of over development witnessed in other key competitor destinations.
    Structural advantage of a natural landscape that physically restricts the supply.
  • Provides the current generation of “Lifestyle Developers” with a virtual blank architectural canvass.
  • Demand–Supply dynamics (high-end product) create potential investment opportunities with attractive risk-adjusted returns.