Montenegro panel flags tourism investment priorities as investors seek faster decisions

Montenegro is positioning its tourism pipeline to attract further capital, according to a panel in Podgorica that laid out priority investment projects and discussed where opportunities remain. Speakers said new developments, a stable business environment and cooperation with local partners could help strengthen the country’s tourism offer and support broader economic growth.

The discussion took place at the Hilton hotel during the Investment Forum, attended by international investors, representatives of financial institutions and figures from the tourism industry. The forum formed part of the two-day UN Tourism Interregional Forum – Meeting of Europe and Asia, hosted by Montenegro and organised by the Ministry of Tourism in cooperation with UN Tourism.

Tourism services built on partnerships

Speakers cited existing projects as evidence that foreign capital can work alongside local expertise. Ana Ivanović, director of Kotor Cable Car, said the Kotor–Lovćen cable car—opened in 2023—has been operating successfully for three years. She noted that more than half a million people have visited the attraction, with foreign visitors accounting for 95% of guests.

Ivanović described the cable car as an example of partnership with foreign investors that draws on local knowledge. She said such cooperation can have positive long-term effects for Montenegro and its citizens, adding that working with partners can create additional value for the country.

For Casa del Mare owner Nikola Milić, investment opportunities include building knowledge and experience in hotel management and providing management services for small hotels. He said his company has developed its micro-location and focused on destination development, with investments significantly concentrated in Kamenari.

Milić said the business learned hospitality “the harder way,” but that opening subsequent properties became easier over time. He also pointed to stable laws and tax decisions, along with clear planning, as key factors for running a business.

Retail expansion signals continued appetite

The panel also touched on investment beyond accommodation. BIG Centers has invested 160 million euros in Montenegro so far and plans to add another 140 million euros over the next three years, according to Eitan Bar Zeev, chairman of the board of BIG Centers.

BIG Centers bought the Delta shopping centre in 2022. Since then, Bar Zeev said total turnover across stores has increased by more than 20%. He argued that Montenegro previously lacked substantial retail space and described Delta as effectively unique as a shopping centre in the market.

Bar Zeev said that while Montenegro is small, it offers many opportunities and that BIG Centers expects further investments.

Infrastructure progress—and pressure to move faster

Infrastructure was another focus for investors weighing future commitments. Stevan Milić, commercial director at Portonovi, said improving infrastructure is important and that work is underway at the Portonovi resort. He added that successful investment can encourage other investors to enter or expand plans, as Portonovi aims to build a strong destination.

Milić also warned that time had been lost while some decisions were being made. He said decisions should be taken more quickly—an issue investors may view as central to maintaining momentum across project delivery.

Taken together, the panel’s messages suggest Montenegro is trying to convert demonstrated project performance into renewed investment interest—while highlighting that regulatory stability alone may not be enough if approval timelines slow down execution of tourism infrastructure and development plans.