Largest employers in trade and state-owned companies: Financial statements for 2024 indicate the uniformity of the Montenegrin economy

The largest employers in Montenegro last year were retail chains and state-owned companies. They occupy all of the top 15 positions on the list of companies with the largest number of employees. This is shown by the 2024 business reports of companies published by the Tax Administration.

Among the 15 largest employers in Montenegro, there is not a single private company engaged in production, processing or hospitality.

The largest employer in 2024 was the trading company “IDEA - CG” with 2.584 employees. It rose to first place thanks to the fact that it took over around 700 workers from “Franca Market”. The takeover was completed at the end of 2023, at which time “IDEA - CG” had 1.733 employees and “Franca Market” had 710. With this new number of employees, “IDEA - CG” now employs one percent of the total number of employees in Montenegro.

Before this merger, the top spot on the list of largest employers was held by the retail chain "Voli Trade", which is now in second place with 2.367 employees. "Voli" increased its number of employees by 49 compared to the previous year.

In third place is the state-owned company that manages the energy distribution network, Montenegrin Electric Distribution System (CEDIS), with 1.772 employees. Compared to the previous year, according to balance sheet data, the number increased by 51.

Another retail chain, "Hard Diskont Laković", is in fourth place with 1.601 employees. Compared to 2023, the number of employees in this company has increased by 243.

In fifth place is the trading company "Domaća trgovina" (Aroma, City and Conto markets), which had 1.323 employees last year, or 99 more than the year before.

The State Post of Montenegro is in sixth place with 1.244 employees, which is an increase of 55 workers compared to the previous year.

Elektroprivreda Crne Gore, with 1.216 employees, is in seventh place on the list of largest employers, with an increase of 92 workers.

In eighth place is the state-owned Pljevlja Coal Mine with 1.149, which is 19 fewer than in 2023.

Airports of Montenegro are in ninth place with 998 employees, which is 35 more than the previous year.

The Railway Infrastructure of Montenegro (ŽICG) with 814 employees is in tenth place. Last year, it had three fewer workers than in 2023.

RTCG is also among the largest employers

In 11th place is the chain of newsagents and small shops "Tabacco S press", which has 771 employees, seven fewer than a year earlier.

The public service Radiotelevision of Montenegro is in 12th place with 740 employees, one more than in 2023.

The City Company "Čistoća" from Podgorica, with 646 employees, is the 13th largest employer in Montenegro. Compared to 2023, it increased the number of employees by four.

This is followed by Podgorica's "Plantaže" with 634 workers (three fewer than in 2023) and the Budvanska Rivijera Hotel Group with 588 workers, which is seven fewer than in 2023.

Of the 15 largest employers, 12 are headquartered in Podgorica, and one each is from Nikšić, Pljevlja and Budva.

Only between 15th and 20th place on the list of large employers are private companies that are not involved in trade. These include the gambling operator "MNA Gaming" with 575 workers, the construction company "Genex PG" with 567, and the hotel group "Montenegro Stars" from Budva with 558 employees.

168 companies are currently without workers

Companies can legally exist without a single employee, in which the director also volunteers. There are 2024 such companies in the Montenegrin register that have submitted reports for 168.

Of these companies, the largest turnover was recorded by "Xelement", part of a foreign company from Sarajevo, with 3,6 million, the representative office of "Skechers" with three million, "Ingenious" from Nikšić with 2,5 million, the representative office of "Elnos Srbija" with 1,7 million, the company "Znak" with 1,5 million,...

Among companies with only one employee, the largest turnover was recorded by the subsidiary "Strabaga" with 34,4 million euros, followed by "TCK Montenegro" with 24,6 million, "Krnovo green energy" with 21,9 million, "Qd hotel and property investment Montenegro" from Tivat with 21,7 million, "Merit Montenegro" with 12,2 million euros, "Delta M CG" with 11,9 million, "Amma resort" with 11,5 million,...

Companies may have no employees or have one employee who is the director, and take over the remaining employees from placement agencies, whereby that worker is not officially registered as an employee of that company, but rather of the agency that assigned him/her.

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