Montenegro recorded approximately €1.48 billion in tourism revenue and 15.37 million overnight stays in 2025, with both indicators above their pre-pandemic levels but below the targets set by the national tourism strategy. Tourism revenue was 34.8 per cent higher than in 2019, while overnight stays exceeded the pre-pandemic level by 6.36 per cent. The national strategy had targeted increases of 50 per cent for revenue and 40 per cent for overnight stays.
Tourism’s estimated direct and indirect contribution to the economy nevertheless reached 28.5 per cent of GDP, exceeding the strategy’s objective of 25 per cent. The results show stronger growth in revenue per visitor than in visitor volumes. High-end marinas, branded residences and luxury hotels have expanded the spending base, while congestion, limited air capacity and infrastructure constraints have restricted the number of visitors that the coast can accommodate without affecting service levels. The government reported that 91 per cent of the formal activities under the tourism action plan had been completed. Legislation, digitalisation and market diversification nevertheless remained unfinished.
Administrative implementation and commercial performance have therefore progressed at different rates. Strategies, promotional campaigns and certification schemes have not resolved constraints affecting hotel operating seasons, traffic, wastewater infrastructure and labour availability. Montenegro also remains dependent on a relatively small number of source markets. Changes in visa treatment affecting Turkish nationals are already influencing airline route planning. Turkey is also an important market for property purchases and company formation in Montenegro, with cumulative Turkish investment since 2006 estimated at €635 million.
Expansion of air services from Western European markets is providing an alternative source of tourism demand. Stronger connectivity from British Airways, Iberia and Wizz Air can increase visitor spending and reduce reliance on regional road traffic, although airport congestion presents a constraint on that expansion. Airport passenger traffic is expected to reach 3.63 million in 2026, equivalent to almost one-quarter of Montenegro’s total annual tourist overnight stays. Investment in airport terminals and ground-handling capacity is therefore directly linked to the country’s tourism revenue model.
