Montenegro’s tourism sector is increasingly driven by individual accommodation, alongside substantial foreign investment in real estate. Foreign investors channelled €319.01 million into property during the first eight months of 2026, while overnight stays in private accommodation reached 8.73 million, representing annual growth of 10.52%.
Individual accommodation recorded 1.17 million tourist arrivals, an increase of 15.74% compared with the same period a year earlier. By contrast, collective accommodation registered 1.12 million arrivals, up 2.94%.
The difference is more pronounced in overnight stays. Individual accommodation generated 8.73 million nights, compared with 4.07 million in hotels and other collective facilities.
The available statistics do not establish how much foreign-owned real estate is used for tourist rentals, meaning the property investment figures cannot be directly attributed to the growth in private accommodation.
Nevertheless, the two trends highlight the growing importance of residential property within Montenegro’s tourism economy. Private accommodation distributes tourism activity across individual property owners and different locations, while real estate increasingly serves both residential and tourism-related purposes. This overlap connects foreign property investment, housing and tourism infrastructure, placing these sectors within an increasingly interconnected part of Montenegro’s economy.
