The decline in tourism revenue in 2024 is a red alert for our economy, stated President Jakov Milatović.
Montenegro generated 1.46 billion euros in tourism revenue last year, a decrease of 3.6% compared to 2023.
“I already spoke about this in November last year when we had data for the first three quarters. This is the first time since Montenegro regained independence, except for the pandemic year of 2020, that tourism revenue has decreased compared to the previous year,” Milatović reminded.
He also pointed out that the tourism sector is entering 2025 with an additional burden in the form of an increase in VAT from 7% to 15%, which could further weaken the country’s international competitiveness.
“Given the importance of the tourism sector for overall economic activity in the country, I urge the government to present to the public the plan of measures it is taking to recover this sector. This is now one of the most important issues for the stability of our economy and public finances,” the president emphasized.
