Montenegro’s services sector recorded an 8.6% increase in nominal turnover in the third quarter of 2026, according to preliminary figures dated 5 November from Monstat, the country’s statistics office. Covering July–September, overall turnover rose 20.6% from the second quarter as economic activity concentrated around the summer tourism period.
Accommodation and food-service turnover increased 20.8% year on year and 81.7% quarter on quarter, with tourism-related activity a major driver of services revenue. Accommodation and food services accounted for 21.5% of measured turnover. Wholesale trade and vehicle-related activities, which represented approximately 56% of the total, recorded annual growth of 5.3%.
Transport and storage turnover rose 7.7% year on year and made up approximately 9.8% of measured services turnover. Administrative and support services grew 13.9%, while professional, scientific and technical services increased 7.2%. Information and communication services declined 0.3%. The figures were compiled primarily from VAT returns provided by the Tax Administration and available as of 22 October 2026.
The turnover data measure activity at current prices and do not distinguish changes in business volumes from price increases. They are not direct measures of real economic growth or tourist spending, and do not establish underlying margins or inflation-adjusted growth. The results support a positive assessment of tourism-related operating revenues, particularly in accommodation and hospitality, but do not show profitability.
The sharp quarterly increase also reflects the sector’s dependence on summer activity, while the sustainability of tourism demand remains an open question. Longer-term revenue growth will require a greater contribution from off-season tourism, business travel, higher-value hospitality and services less dependent on seasonal visitor flows.
