Tourism expert and master’s degree holder Emil Kukalj believes Montenegro may have prematurely ended its economic citizenship program. He argues that, if designed properly, the program could have delivered long-term economic, social, and developmental benefits—especially in tourism, infrastructure and employment.
Strategic focus over passport sales
Kukalj stresses the importance of strategic investments over simply selling passports. He highlights that the program, active until 2022, mainly attracted hotel investments—especially in northern Montenegro—and would likely have continued to do so, supporting regional development.
He suggests that investors often bring extensive networks and influence, potentially promoting Montenegro abroad and driving further tourism and investment. This “word-of-mouth” marketing, he argues, could have been a powerful tool for national promotion.
Impact on tourism and infrastructure
A well-structured program could have boosted luxury tourism and driven the construction of high-end hotels and eco-resorts. Kukalj also sees potential for improving service standards by attracting global hotel brands and hospitality experts.
The program could have helped reduce tourism seasonality by supporting wellness tourism, convention centers, and adventure tourism—ensuring year-round demand.
He emphasizes avoiding overdevelopment of seasonal apartments, instead encouraging projects that add value and attract longer stays. Investors could also contribute to infrastructure—like water supply, roads, and digital systems—in underdeveloped areas, aligning private profit with public good.
Employment and innovation
Kukalj argues that development-focused investment visas (rather than direct citizenship sales) could boost employment and technology growth. These visas should require investors to open businesses in key sectors such as IT, energy, or tourism and employ local staff. Citizenship would be offered later, contingent on meeting development goals.
Target investor groups
Kukalj outlines four primary investor categories for Montenegro:
- Luxury tourism and real estate investors from the Middle East, Asia, Russia, Europe, and the U.S.
- Digital nomads and high-earning freelancers in IT, blockchain, and creative industries.
- Yacht owners and elite nautical tourists using marinas like Porto Montenegro and Luštica Bay.
- Strategic partners, such as global hotel chains (e.g., Four Seasons, Ritz-Carlton).
He also highlights the importance of attracting scientists and experts to strengthen sectors with local talent shortages.
A gradual, EU-aligned model
Kukalj recommends a phased investment visa model aligned with EU regulations. This approach would ensure investor contributions to Montenegro’s development while addressing EU concerns about “passport-for-sale” schemes. Success, he concludes, hinges on strong EU dialogue, clear program conditions, and a focus on long-term national benefits.
