Montenegro’s state coastal-management company Morsko dobro generated around €26 million in revenue in 2026, bringing it closer to its full-year target of approximately €32 million. More than four-fifths of the annual target had been reached by early September, with management expecting the plan to be met or exceeded if tourism and ferry traffic remain strong through the remainder of the year.
The state-operated Kamenari-Lepetane ferry service contributed around €7 million by Sept. 4, compared with a full-year revenue target of €9.5 million. The ferry crossing provides a shorter connection between Herceg Novi and Tivat across the Bay of Kotor and sees particularly strong demand during the summer tourism season. Morsko dobro assumed direct control of the ferry operation after ending the previous private arrangement, making the service an increasingly important source of public revenue.
The company’s stronger commercial performance also increases its capacity to finance promenades, beaches, coastal infrastructure and public amenities. At the same time, coastal municipalities have argued that a larger share of revenue from beaches, coastal land and tourism infrastructure should remain in the areas where it is generated. The issue is linked to the infrastructure burden created by seasonal tourism, including roads, water supply, wastewater, waste management, public spaces and traffic management. As Morsko dobro’s concession and ferry revenues increase, questions over their distribution and reinvestment are expected to remain relevant.
The ferry operation also brings additional maintenance and investment requirements, including fuel, staffing, vessel maintenance and eventual fleet replacement. Higher traffic could also require additional capacity at ferry terminals and within the existing fleet during peak periods. Morsko dobro’s wider coastal portfolio is similarly connected to the quality of Montenegro’s tourism infrastructure. Promenades, beaches, access roads, utility systems and public transport contribute to the functioning of coastal tourism assets.
The company’s financial performance also has implications for state-owned enterprise management, as higher operating surpluses can be retained for investment or distributed as dividends to the state. For an infrastructure-focused public enterprise, the balance between reinvestment and dividend payments affects its capacity to finance future projects. Morsko dobro’s 2026 results therefore place the company at the intersection of tourism, coastal management, municipal finance and state-owned enterprise governance, with the full-year €32 million revenue target becoming a key measure of its financial performance.
