Montenegro: the fast growing tourism industry in the world?
Photo credit: Jonas Ahlberg
Montenegro has the fastest growing tourism industry in the world, according to the World Travel and Tourism Council.
The WTTC predicts that tourism will grow faster in Montenegro than anywhere else over a ten-year period with a 10% year-on-year growth. New direct flights from the UK to Montenegro also make the little Adriatic country more accessible for Brits looking for a second home in the sun. New developments are catering to the demand with the latest being 'Sea Breeze' a villa development in the style of a Dalmatian hill town overlooking Kotor Bay.
An independent state for just six years the Government has been building on Montenegro's reputation as an elite tourist destination with large projects, such as Porto Montenegro - a luxury yacht Marina and waterfront development, already well publicised and now well underway. Leading hotel groups Banyan Tree, Hilton, Regent, Amman, Wyndham Grand are already in the country, or about to start development.
New direct flights to the country, which lies just south of Croatia on the Adriatic Sea, with Montenegro Airlines will reduce the journey time to just 2.5 hours from London, whereas passengers previously arrived via Dubrovnik airport some 45 minutes drive from the main resorts on the Coast. Montenegro Airlines now fly twice a week to Tivat, just ten minutes from Sea Breeze, and once a week to the capital, Podgorica. British Airways, easyJet, Flybe, Jet2, Monarch and Thomson will continue with their flights to Croatia's Dubrovnik airport giving passengers a daily flight choice.
Developer of Sea Breeze John Kennedy believes the tourism growth and government plans to build an elite tourism sector are good news for the property sector.
He says: "It's often difficult to get a hotel room in Montenegro so those wanting to buy-to-let will do well. The real estate market in Montenegro is still in its infancy, and represents good value for money compared to its neighbours Italy and Croatia and has a strong secondary market from a Russian client base which has been pushing prices upwards. The country only uses the Euro which is highly competitive against other currencies."
The fifty two and three bedroom villas planned as part of the Sea Breeze development are situated on the lower slopes of a hillside, surrounded by a green belt of olive and pine groves, with panoramic views over Kotor Bay, one of the main tourism hotspots of the country. "The concept has been to create a community, in the style of a Dalmatian hill town," developer John Kennedy of Boka Group explains."It's a place to relax and unwind, a world away from the bustle of life in the UK, and an easy two and a half hour journey away. Given that the summer sun is replaced in the winter months by ski resorts just a short drive away, getting to Montenegro even for a long weekend is suddenly a realistic alternative and gives year-round use and value to villa owners".