12 October 2019 - Moody's credit rating agency has affirmed the B1 credit rating for Montenegro, while retaining a "positive" outlook.

The credit rating is the result of high GDP per capita, optimistic prospects for EU accession, and a strong investment trend with a focus on foreign direct investment. The latest Moody's report welcomes significant investment projects implemented in the transport, tourism and energy sectors.

Furthermore, the B1 credit rating justifies the strong middle-term growth potential, supported by the implementation of adequate structural reforms, as well as the implementation of the Government's effective measures that contribute to strengthening Montenegro's fiscal position. In addition, specific Government activities have been identified that have reduced the medium-term refinancing risks in Montenegro.

The main drivers of growth are evident in the construction, transport, tourism and energy sectors. The growth was also stimulated by public investment, above all, by the construction of the priority section of the Bar-Boljare motorway, reports Government of Montenegro. On the other hand, a significant contribution to the growth was also made by household consumption, fueled by a record-breaking tourist season and positive developments in the labour market, where in the second quarter of 2019, the unemployment rate was at a historically low level of 14,3%.

The report states that 2019 will be another record-breaking year in the tourism sector, in line with an increase in arrivals for the period January - August of 17.2% and overnight stays of 9.2%, compared to the same period last year.

Finally, the report praises the legal and administrative reforms that are being implemented, especially in the context of accession to the European Union, which is a further impetus for the advancement of the rule of law while continuing to strengthen the capacities of the institutions in the coming years.

Read more news about politics in Montenegro at TMN's dedicated page.

12 October 2019 - Influential United Kingdom’s daily newspaper, The Guardian recently listed the Morača region and Kolašin as “one of the best small ski resorts in Europe”.

On October 10, The Guardian, one of the United Kingdom's leading newspapers, posted an article on the advantages of small ski resorts, providing travel tips to its readers. The article explains that smaller resorts often offer benefits such as smaller prices, easier routes, less crowded slopes, great scenery, or unspoilt character. “From Spain to Greece, these less-obvious ski areas offer great value and a more local feel than the big, busy Alps resorts,” states the article.

The Guardian provided its readers with a detailed explanation from an individual who visited the Morača region and Kolašin. According to Ralph, due to small height variations and different tracks, the Kolašin ski resort is perfect for beginners and intermediate skiers alike. Still, experienced skiers can also find the resort interesting with freestyle tracks and unbroken snow. Kolašin offers unique natural beauties of which this whole region is famous for.

“Kolašin in central Montenegro is the most underrated mountain resort in Europe. It is a small town surrounded by the Bjelasica and Sinjajevina mountains, which rise to above 2,000 metres. Skiing costs from €30 a day including lift pass, and there are also children’s slopes with instructors. My seven-year-old loved it. The great-value Balkan cuisine is delicious and accommodation ranges from upmarket Hotel Bianca to reasonably priced log cabins. The ski slopes are 7km away and accessible by bus. For a winter holiday without queues and high prices, I’d really recommend the area,” says Ralph for The Guardian.

Aside from Kolašin, the list of “10 of the best small ski resorts in Europe” included Port Aine (Spain), Kranjska Gora (Slovenia), Champex-Lac (Switzerland), Garmisch-Partenkirchen (Germany), Sierra Nevada (Spain), La Mongie (France), Levi (Finland), Hania (Greece) and Roccaraso (Italy).

The news that The Guardian recognised the beauty of Montenegro and Kolašin was quickly noted by the Ambassador of Great Britain to Montenegro, Her Excellency Ms Alison Camp, who congratulated the representatives of the country’s tourism offer and to the representatives of the Ski Resort Kolašin 1450 as well.

“We appreciate when Montenegro is reported on in this matter incredible world newsletters. Our commitment to build new ski resorts in Kolašin and other municipalities in the North is confirmed,” said Prime Minister of Montenegro Duško Marković as a comment on the country’s accomplishment.

Read more travel advice at TMN's dedicated page.

12 October 2019 - Renowned Chinese company UTour is interested in investing in Northern Montenegro, primarily in Žabljak, where it wants to build a 100-room hotel according to the standards of the Marriott hotel chain, it was noted at the yesterday’s meeting between Prime Minister of Montenegro Duško Marković's and U-Tour Group Chairman Bin Feng.

"The Chinese tourism industry is very interested in Northern Montenegro, and given the number of the Chinese tourists visiting your country, we think it is a smart idea to have hotels in this part of the country," Mr Feng stressed, adding that the Chinese are increasingly appreciative of Montenegro’s beauty, and that when it comes to the north of the country, they find the Đurđevića Tara Bridge particularly interesting.

Noting that there have been no direct Chinese investments in Montenegro so far, that Chinese companies are present as contractors for the motorway project, Prime Minister Marković welcomed the interest and intention to invest in tourism. He added that the Government of Montenegro would create legal precondition to enable the realisation of the UTour's intention to build a hotel in Žabljak.

UTour is the largest private tour company in China, and in addition to tourism, they are engaged in international financing, as well as investment in hotel facilities. The group has invested in hotels in Japan, Norway, Switzerland, and they own a large number of travel agencies across Europe. According to Mr Feng, nearly 50,000 Chinese tourists come to Montenegro annually, and the number is expected to quadruple in the next five years.

“My Government's agenda is focused primarily on the North, which is a major construction site today. Through the Capital Budget, we have invested a lot in road, energy, utility and social infrastructure," said Prime Minister Marković.

The meeting also discussed opportunities for investment in other sectors, notably in energy, renewable energy and agriculture. Both sides assessed the good interstate relations between Montenegro and China as significant and positive.

Read more about the business environment in Montenegro at TMN's dedicated page.

11 October 2019 - The Government of Montenegro is continuously investing in strengthening infrastructure, especially in northern Montenegro, to stimulate investment and improve citizens' lives by creating better conditions.

The Public Works Administration signed the contract for the second phase of reconstruction of the Plav – Vojno selo – Gusinje road, worth 3,5 million EUR. The works will be carried out by Bar-based company "Putevi Bar". The deadline for completion of works is 18 months from the introduction of "Putevi Bar" into the business.

The first rehabilitation phase of 1,2 km long road is underway, for which 850.000 EUR has been allocated. Along with the final phase, the modernisation will cover about 10 kilometers of the road, reports Public Relations Service within the Government of Montenegro.

Furthermore, the Bar-based company will soon begin the reconstruction of Ribarska Street in Plav, for which 300.000 EUR will be allocated from the Capital Budget for North Montenegro, and the scheduled completion date is 70 days from the introduction of the contractor into the business.

Based on the contract with Podgorica-based "Asfalt beton gradnja", the works will be continued in the settlement Bukovica in Rožaje, where the second phase of the construction of the sports and recreational playground is anticipated. The investment is worth around 34.000 EUR, and the deadline for completion is 30 days from the introduction of the contractor into the business.

"Asfalt beton gradnja" was also assigned to pave the road with asphalt in the settlement Godočelje in Petnjica. The investment is worth 25.000 EUR, and the deadline for completion is 25 days from the introduction of the contractor into the business.

Read more news about business in Montenegro at TMN's dedicated page.

11 October 2019 - Prime Minister of the Government of Montenegro Duško Marković recently paid a visit to Moračica Bridge, and on that occasion he expressed satisfaction with connecting the span structure on the largest construction project of the first section of the Motorway, highlighting that only the motorway opening will be more important than this moment. 

"I would say that this is the most important day for this entire project. Not maybe, but certainly the only moment more important from this one, is the completion of the whole motorway section and its commissioning," the Prime Minister stated. 

Prime Minister Marković took this opportunity to thank all those who contributed to the largest single construction is at this phase.

"They tell me that this is the third-largest rate bridge in Europe and among the top ten in the world, you can imagine what kind of construction project it is… This is a special day for Montenegro, a special day for all of us who are committed and follow the implementation of this project; this is a confirmation of capability and credibility not only the contractors, but also the entire team involved in this project. This is a confirmation that Montenegro can tackle these project challenges to the benefit of citizens, the state and the population standard of living," pointed out PM Marković, writes his Office.

Prime Minister Marković recalled that it is an investment worth over 70 million EUR and expressed his belief that the Bridge will be fully completed until March next year to be in optimum position function with the Motorway commissioning. 

Moračica Bridge, the most massive single structure on the priority section of the Bar – Boljare motorway, is 175 m high (from the bottom bed of Morača to the roadway of 205 m), 23,4 m wide and 960 m long. 

In addition to Prime Minister Duško Marković, Minister of Transport and Maritime Affairs Osman Nurković, chief engineer of the Bridge Duško Rondović, Ambassador of the People's Republic of China Liu Jin and CRBS General Manager in Montenegro Hei Shiqiang also attended the visit to the Bridge Moračica.

Read more news about business in Montenegro at TMN's dedicated page.

11 October 2019 - German public service Norddeutscher Rundfunk recently broadcasted a report on Montenegro entitled "Montenegro - From the Black Mountains to the sea" (Montenegro - von den schwarzen bergen zum meer).

The author of the show, Torben Schmidt, began his journey by night train on the border with Serbia. From Bijelo Polje, a small town with socialist charm, Schmidt goes on a journey through the mountains to the sea. “The railroad through the Dinaric Mountains, over serpentines and bridges to the coastal town of Bar, is considered to be the most beautiful railway in the Balkans. As the so-called Tito’s Railway, it was the pride of Yugoslavian railway architecture," says the author.

The show states that Montenegro owes its name to the Black Mountains. "In the country, you can find steep cliffs, deep gorges, picturesque lakes, Orthodox monasteries, Venetian architecture, sandy beaches and even a fjord like in Norway. Three climatic zones pass through the Adriatic, as large as the German region of Schleswig Holstein. Residents still have to find their way between the challenges of the post-socialist squad, the lavish Balkan sentiment and the chance of a still undiscovered tourist destination in Europe," says Schmidt.

After the railroad trip segment, the film presents a passionate mountaineer, Milan Radović, who, as the first Montenegrin to climb an eight thousand meters peak, still proclaims Montenegro the most beautiful country in the world.

In the rock monastery Ostrog, which was a refuge for the locals during the Ottoman siege, the author talks with a young pilgrim; and on Lake Skadar, he interviews an ornithologist who has devoted himself to the protection of the pelicans. Finally, the Schmidt reaches the Montenegrin coast and gains insight into the lives of Montenegrin fire-fighters and a local water polo coach.

The National Tourism Organization of Montenegro supported this project of the German production company Elbmotion pictures from Hamburg, whose representatives visited Montenegro last year.

Get more information on why and when you should visit Montenegro at TMN's dedicated page.

11 October 2019 - On October 3rd, Jet2.com and Jet2holidays announced new direct services to Tivat in Montenegro, with flights and holidays going on sale from London Stansted and Manchester Airports.

The announcement marks the first time that Jet2.com has operated flights direct to Montenegro, a destination that features everything from golden beaches and cool bars to whitewashed villages and rugged national parks. Currently accessible from Dubrovnik, the launch of this brand new route now gives holidaymakers direct access to Montenegro with Jet2.com and Jet2holidays.

The airline will operate up to two weekly services (Thursday and Sunday) to Tivat from each base, with services running from May through to October.

Located on the west coast of the Balkan Peninsula, Tivat opens up an array of dazzling options for holidaymakers, including resorts such as stylish Budva, chilled-out Bečići and the stunning Herceg Novi. The classy coastal town of Tivat itself is nearby, as is the jaw-dropping Kotor Bay.

This is Jet2.com’s third brand new route for Summer 20, in addition to Preveza (Greece) and Zadar (Croatia).

Steve Heapy, CEO of Jet2.com and Jet2holidays said: “The introduction of services to Tivat means that we are operating direct flights to Montenegro for the first time. With stunning scenery, a wonderful climate, and fantastic resorts such as Budva and Bečići on offer, we are expecting this destination to be hugely popular with holidaymakers. Yet again, Jet2.com and Jet2holidays are giving holidaymakers and independent travel agents even more choice and flexibility when it comes to booking our award-winning flights and holidays.”

Low-cost carrier Jet2 will enter the Montenegrin market in 2020 with the launch of two new routes to Tivat. The airline will inaugurate two weekly flights from Manchester and London Stansted starting May 21. Both will be operated with a 189-seat Boeing 737-800 aircraft. The announcement marks the first time the leisure airline and package holiday specialist has operated flights to Montenegro.

"The Balkan beauty of Montenegro sits beside neighbours Croatia and Bosnia and Herzegovina. Majestic mountains stand proud against brilliant beaches, with terracotta-topped towns in between. You’ll find laid-back rural areas alongside upmarket marinas too. Sound up your street? Let us show you more…," says the open invitation of the Jet2 company to all interested travellers to visit Montenegro and its beauty.

Tickets are already available for purchase on the airline's website.

Get more information on when and how to visit Montenegro at TMN's dedicated page.