Montenegro: 2008 a Record breaking year for tourism
Posted by Rebecca Sale on 12 th in DSR, Investment Property, Montenegro property news on 12th of November 2010The Director of the Montenegrin National Tourist Association, Sasa Radovic, has said he expects 2008 to be a record-breaking year for tourism. Last year recorded the biggest number of visitors in Montenegrin’s history, but 2008 is expected to be even bigger.
According to the official forecast of the Ministry of Tourism and National Tourist Organisation, an estimated 1.26 million will visit Montenegro this year, a ten percent increase on 2007.
During the first five months of this year, the number of visitors to Montenegro increased by 16 percent in comparison to the same period last year, while the number of overnight stays jumped by 32 percent.
Mr Radovic added that all infrastructural works have now been completed and that Montenegro enters the summer season with much optimism. The government have opened a representation office in Frankfurt and a similar office is soon to be opened London, both likely to significantly increase the number of tourists from these markets and ensure better cooperation between the countries.
Increased flights by the national carrier, Montenegro Airlines, to European capitals is also expected to give an additional boost to the industry. And Montenegro is expected to earn Euro 549 million this year, a 14.5 percent increase on 2007.
It is the coastal region which is enjoying a particularly strong influx of foreign visitors and these tourists need quality rental accommodation.
DSR currently has The Acacia apartments towards the top of the village of Djenovici, set on a hill covered in olive trees and mimosa flowers, with stunning views of the Bay of Kotor, the wilderness of the Lustica peninsular and the snow-covered majesty of Mount Lovcen. With red sloping roofs and shutters, large balconies and terraces as well as communal piazzas; the development is designed in the style of a typical Venetian village. Surrounding the buildings are large landscaped gardens, the focus of which is a raised terrace with large swimming pool and café.
Coastal properties such as these are expected to achieve high rental yields of up to 10 percent as Montenegro benefits from ever increasing tourism numbers. And Montenegro property as a whole is expected to grow in value by 15-20% per year, and possibly reach growth of even 30% per year as Montenegro progresses towards full EU accession, which is expected to be sometime in the next two years.
