The government of Montenegro has outlined an ambitious strategy aimed at transforming the country’s economic landscape over the next decade. The period from 2026 to 2035 is viewed as critical for determining whether Montenegro will evolve into a stable, resilient European state or remain reliant on its current tourism-based economy. The proposed framework emphasizes the necessity for strategic planning to ensure sustainable growth and stability.
By 2035, Montenegro aims to develop an economy valued between €14 billion and €16 billion. Key targets include reducing public debt to 40 to 50 percent of GDP, achieving a renewable energy supply of 60 to 70 percent, and generating tourism revenues of €3.2 billion to €3.8 billion annually. Additionally, the objective is to handle 6 to 7 million passengers at airports and raise average net salaries to approximately €1,400 to €1,600.
The foundation of this strategy lies in securing energy resources. The government recognizes that energy stability is essential for supporting tourism, airport operations, and overall economic activity. By 2035, Montenegro seeks to ensure that renewable sources contribute significantly to electricity generation, aiming for between 800 and 1,000 megawatts of new renewable capacity. This shift is expected to enhance trade balance resilience and stabilize corporate operating costs.
In terms of transportation infrastructure, Montenegro anticipates an increase in annual airport passengers to between 4.5 million and 5.5 million, with a target of reaching 6 to 7 million by 2035. The government stresses the importance of developing strategic transport capabilities rather than relying on reactive measures, stating that efficient airports and transport systems are crucial for sustaining tourism growth.
Tourism will continue to be a defining sector for Montenegro; however, it must diversify its economic base. By 2035, the aim is for tourism revenues to contribute between 15 and 18 percent directly to GDP while expanding visitor numbers to between 5 million and 5.5 million annually. The strategy calls for a longer tourism season and greater participation from northern regions while ensuring environmental management protects the industry’s long-term viability.
The real estate sector also plays a vital role in the economy but must be developed responsibly. Montenegro has experienced significant benefits from real estate investments; however, the strategy emphasizes avoiding speculative bubbles and ensuring that urban development is well-planned. This includes making housing accessible for citizens and guiding growth towards less developed areas.
The banking system is highlighted as a potential catalyst for economic development. By 2035, it should transition from merely maintaining stability to actively supporting large-scale investments in renewable energy and infrastructure projects. A shift in focus toward financing long-term growth initiatives will be necessary for enhancing corporate capabilities.
Corporate entities in Montenegro are encouraged to build resilience through investments in productivity and governance practices. The goal is for businesses to thrive not only during favorable economic conditions but also during downturns, emphasizing the need for strategic planning and risk management.
A stable fiscal environment is crucial for attracting investment. The government aims to reduce public debt towards 40 to 50 percent of GDP, maintain a credible fiscal position, and ensure that public enterprises are governed effectively. This stability is deemed essential for fostering investor confidence.
Lastly, improving living standards is a fundamental aspect of this economic vision. By 2035, average net salaries should ideally reach between €1,400 and €1,600, with an emphasis on enhancing purchasing power and creating a more liveable environment that mitigates emigration pressures.
The successful realization of this vision hinges on serious commitment from all sectors of Montenegrin society. If achieved, Montenegro could emerge by 2035 as a robust economy characterized by secure energy resources, efficient transportation networks, diverse tourism offerings, responsible real estate development, a proactive banking sector, resilient corporations, sound fiscal management, and improved quality of life for its citizens.
