The decline in tourism revenues in 2024 is a red alert for our economy, said Montenegrin President Jakov Milatović.
He commented on today's article in "Vijesti" about the worrying data from the Central Bank and Monstat on the decline in tourism and the worsening difference between imports and exports, according to which tourism is in decline for the first time in 20 years.
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"I already talked about this in November last year when we had data for the first three quarters. This is the first time since the restoration of Montenegro's independence, excluding the pandemic year of 2020, that tourism revenues have decreased compared to the previous year. The tourism sector enters 2025 with an additional burden in the form of an increase in VAT from 7 to 15 percent, which may further weaken our international competitiveness," Milatović wrote on Iks.
He called on the Government, given the importance of the tourism sector for the overall economic activity in the country, to present to the public a plan of measures it is taking to recover that sector.
"This is now one of the most important issues for the stability of our economy and public finances," said the president.
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