Driving factors of the montenegrin economy - FDI and tourism

Domazet, Ivana and Marjanović, Darko and Subić, Jonel (2024) Driving factors of the montenegrin economy - FDI and tourism. International Review (1-2). pp. 117-127. ISSN 2217-9739

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Abstract

The aim of the paper is to assess the level of competitiveness of Montenegro and the possibilities for future progress based on the analysis of the level of foreign exchange inflows from foreign direct investment and tourism as factors contributing to the development of the Montenegrin economy. The desk research was conducted on the basis of officially available data from the Central Bank of Montenegro and the Statistical Office of Montenegro (Monstat). The period covered by the research is from 2019 to 2022. The research results show that a foreign investor in Montenegro is legally treated in the same way as a domestic investor, that the tax system is very attractive and among the most competitive in the whole of Europe, which provides investors with an attractive business environment, a low tax burden and thus maximizing their profits. Furthermore, one of the main priorities of the Montenegrin economy should be focused on the development of tourism, as tourism in Montenegro is the foundation of the country's prosperity and well-being. In this regard, those responsible for economic policy in Montenegro should continuously evaluate and adapt their strategies to global economic trends in order to create an appropriate business environment and thus the country's prosperity.

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