According to the 2023 census, 46,800 foreigners live in Montenegro, while records from the Ministry of Interior show nearly 100,000. The difference comes from methodology: the census counts only those physically present, while the ministry includes everyone with registered residence, regardless of whether they are in the country. Some foreigners also did not respond to census takers.
Despite these differences, the economic impact of foreigners is growing. In 2024, they earned 114 million euros, almost twice as much as five years ago. Their share in the labor market is increasing as the domestic workforce stagnates due to low birth rates and emigration.
Foreigners are also driving up housing costs—rents have risen 80 percent since 2019, and about half of foreign direct investment goes into real estate. Experts warn this trend could be an opportunity but only if public policies in education, healthcare, and integration are adjusted on time.
Digitalizing registries and improving migration tracking are seen as priorities, as the inflow of foreigners has become a long-term trend that directly affects Montenegro’s economic stability.
