According to Montenegrin economist Miloš Vuković, the recovery of the country’s tourism and tourism sector, both in quantitative and qualitative terms, will take at least three to five years.
This tourist season in Montenegro, due to the coronavirus pandemic, revenue is almost 90 percent lower than last year.
According to Vuković’s estimates, tourism revenues next year will amount to 30 to 50 percent of last year’s level, since current information suggests that mass vaccination will be completed only at the end of September.
The tourism-dependent country has been hit hard by the economic crisis caused by the pandemic, and according to forecasts by relevant organizations, it will experience the largest economic decline in the region.
According to the Central Bank (CBCG), from the beginning of the year until the end of September, revenue from foreign tourists amounted to 100 million euros, while in the same period last year it was 978 million euros.
The extent to which Montenegro depends on tourism is best shown by data from the World Travel and Tourism Council (WTTC), cited by Vuković, according to which the sector’s contribution to the economy is 32.1 percent, or $1.76 billion.
The same situation applies to tourism’s overall contribution to employment. According to Vuković, 66.9 thousand people, or 32.8% of the total number of employees in Montenegro, depend on tourism, which accounts for one-third of the country’s economy.