Business news from Ukraine

Business news from Ukraine

Ukrainians remain among main tourist groups visiting Budva, Montenegro

According to Serbian Economist, 815,916 tourists visited the Budva Riviera in Montenegro from January through August 2026, a 17% increase compared to the same period last year, with Ukrainians remaining one of the most prominent groups of foreign visitors to the resort.

This was reported by Milan Tičić, director of the Budva Tourism Organization, in an interview with the Montenegrin publication Vijesti, published on September 18. According to him, tourists from 205 countries visited Budva over the course of eight months.

Serbia and Russia remain the resort’s largest traditional markets. The number of tourists from Serbia has increased by approximately 19% since the beginning of the year, while the flow of Russian tourists has grown by as much as 34%.

Some Western European markets are growing even faster in 2026. The number of visitors from Poland increased by 83%, from Italy by 59%, from the Netherlands by 51%, from Spain by 46%, from the United Kingdom by 25%, and from Germany and France by approximately 15%. Thus, the geography of foreign tourism in Budva is gradually diversifying, although Serbian and Russian tourists still hold the leading positions.

Ukrainians are also among the key tourist groups. According to data from the Budva Tourism Organization, during the peak season on August 7, 2026, Ukrainian citizens were among the top ten largest groups of guests in group accommodations, alongside tourists from Serbia, Russia, Israel, the United Kingdom, Germany, Bosnia and Herzegovina, and Poland.

In the private sector, Ukrainians’ presence is even stronger. In early August, they were the fourth-largest group after tourists from Serbia, Russia, and Bosnia and Herzegovina. In hotels and group accommodations, Ukrainians also consistently ranked among Budva’s top ten source markets.
By the end of August, the pattern remained similar. Among the most numerous guests at hotels and other collective accommodations, the Tourism Organization listed tourists from Serbia, Russia, Israel, the United Kingdom, Bosnia and Herzegovina, Ukraine, Germany, Poland, Turkey, and China.

The importance of the Ukrainian market is also confirmed by Montenegro’s national statistics. According to MONSTAT, in 2025, Ukrainians accounted for 4.3% of all overnight stays by foreign tourists in the country, tying with tourists from Turkey in this regard. The largest shares of overnight stays were accounted for by visitors from Serbia (23.4%), Russia (16.4%), Bosnia and Herzegovina (8.1%), and Germany (4.6%).

In the segment of private apartments and other private accommodations, the share of Ukrainians was even higher—4.7% of all overnight stays by foreign visitors. Serbian tourists accounted for 25.6%, Russian tourists—22.1%, citizens of Bosnia and Herzegovina—9.4%, and Turkish tourists—4.9%. At the same time, 94.8% of all overnight stays in Montenegro’s private sector occurred specifically at seaside resorts.

In 2025, a total of 2.729 million tourists visited Montenegro, accounting for 15.367 million overnight stays. Foreign visitors accounted for 95.8% of all overnight stays, and coastal resorts accounted for 92.6%, underscoring the critical importance of Budva and other coastal cities to the country’s tourism economy.
The growth in tourist traffic is already having an impact on Budva’s revenues. From January through August 2026, revenue from the tourist tax collected by the city’s tourism organization reached a record 2.477 million euros, which is 6% more than the previous year. In July, revenue increased by 16%, and in August, by 13%.

Budva remains one of Montenegro’s main tourist centers and is particularly popular among citizens of Serbia, Russia, Ukraine, and countries in Central and Western Europe. At the same time, the rapid growth in tourist arrivals from Poland, Italy, the Netherlands, and the United Kingdom indicates a gradual reduction in the resort’s dependence on a few traditional markets.

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Netherlands, Croatia, Estonia, Lithuania, and Latvia have called for pause in Montenegro’s EU accession process

According to the “Serbian Economist,” five EU countries—the Netherlands, Croatia, Estonia, Lithuania, and Latvia—have called for a pause before closing the remaining negotiation chapters with Montenegro, reports the Podgorica-based newspaper Dan, citing diplomatic sources in Brussels.

The Netherlands initiated the move, demanding further analysis of Montenegro’s compliance with European criteria and a more consistent application of established standards. Croatia and the three Baltic countries subsequently joined this position.

This has already affected the negotiation schedule. The EU–Montenegro intergovernmental conference scheduled for September—at which Podgorica had hoped to close new chapters—will not take place.

However, Brussels’ official line is more conciliatory. An EU representative stated that several countries have not yet completed their internal approval procedures, as many negotiation chapters are technically complex.

“The desire to make progress is there. The work is practically complete. It’s more a matter of timing than anything else,” the EU representative said.

The most optimistic scenario at the moment is that the next intergovernmental conference will be held in mid-October in Luxembourg.

Montenegro remains the candidate that has made the most progress in the EU accession process. The country has opened all 33 negotiation chapters, 18 of which have already been provisionally closed. The last conference took place on July 14, when Chapters 8 (“Competition Policy”) and 29 (“Customs Union”) were closed.

Croatia’s position remains a separate issue. In July, Zagreb refused to agree to the closure of Chapter 14, “Transport Policy,” primarily due to issues regarding cabotage and aviation permits. Croatia also continues to block Chapter 31, “Foreign Policy, Security, and Defense,” due to unresolved bilateral issues with Montenegro.

The Council of the EU officially confirms that Montenegro’s progress continues and that work on new negotiating positions is ongoing.

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Famous hotel in Montenegro to be auctioned for €30 million

One of the well-known hotels on the Montenegrin coast — Plaza in Herceg Novi — will be put up for public auction on September 14. The property together with the land plot has been valued at €30.742 million, the Serbian business portal Parametar.rs reports.

At the first auction, the hotel cannot be sold for less than 80% of its appraised value, so the minimum price will amount to about €24.6 million. To participate, potential buyers were required to pay a deposit of €3.074 million.

The sale is connected with a years-long dispute surrounding the company Vektra Boka, which managed the property. The proceeds from the sale of the assets are to be used to settle the claims of former employees and other creditors. Among them are the municipality of Herceg Novi and the local Water Supply and Sewerage company. CKB banka also has separate claims against Vektra Boka.

If no buyer is found at the first auction, at the second one the minimum price may fall to 50% of the valuation — approximately €15.37 million.

The package being sold includes land worth €7.01 million and buildings worth €23.73 million. The area of the main hotel property is about 5.44 thousand sq. m.

Source — Parametar.rs

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Montenegro Demands Full EU Membership Without Restrictions for New Member States

According to “Serbian Economist”, Montenegro expects to join the European Union as a full and equal member and does not agree to a model under which new member states would be granted limited rights, Minister of European Affairs Maida Gorčević stated on September 9.

According to her, Podgorica is prepared to adopt additional safeguards against a potential democratic backslide following EU accession, but does not want to become a “second-class member” with limited voting rights or other temporary restrictions.

Various models for future enlargement are currently being discussed within the European Union, including the possibility of temporarily restricting certain rights of new members regarding the budget, foreign policy, or the exercise of the veto. Gorčević emphasized that Montenegro is prepared to accept the strictest mechanisms for monitoring the rule of law, but considers the equality of members to be a fundamental condition.

At the same time, Podgorica is trying to dispel Brussels’ concerns about possible vetoes in advance. Gorčević stated that Montenegro has no intention of using the veto as a tool for exerting pressure and sees itself rather as part of a group of small and predictable EU members, such as Slovenia, Malta, or the Baltic states.

Montenegro remains the most advanced candidate for EU accession in the Western Balkans. Negotiations have been ongoing since 2012, and all 33 negotiation chapters have been opened. Following the closure in July of the chapters on competition and the customs union, the number of provisionally closed chapters reached 18.

The government expects to close the remaining chapters by the end of 2026 and is aiming for EU accession in 2028. Back in the spring, Gorčević stated that the country’s goal is full membership, rather than an interim or simplified form of integration.

For Ukraine, Podgorica’s position is also of interest as a potential precedent. If Brussels does indeed decide to impose transitional restrictions on new EU members regarding the right of veto or other powers, such a model could potentially be applied to other Western Balkan countries that join later. This model could also be applied to other EU candidate countries.

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Montenegro has deported six Ukrainian citizens on suspicion of ties to organized crime group

According to Serbian Economist, Montenegrin police have deported six Ukrainian citizens suspected of establishing a network of cooperation with one of the “high-risk organized crime groups” (OCGs) operating in the country.

According to police, the operation lasted several days and was aimed at identifying foreigners whose presence and activities could pose a threat to the country’s internal and national security. As a result of the investigations, police reported uncovering links between six Ukrainians, aged 28 to 33, and one of the organized criminal groups.

Following the investigation, the police initiated the revocation of the temporary protection previously granted to these Ukrainian citizens. Subsequently, a decision was made to deport all six individuals and ban them from returning to Montenegro for a period of five years. They were forcibly removed from the country via Podgorica Airport and the Božaj border crossing on the border with Albania.

Another Ukrainian citizen, who is currently outside Montenegro, was barred from entering the country on the same grounds. Thus, the measures affected seven individuals: six were deported, and one was barred from entry.

During the operation, various communication devices, GPS tracking devices, drones, devices for interpersonal communication, and other items were seized from those inspected. The police stated that they will continue to inspect foreigners as part of measures to counter threats to national security.

At the same time, it is important to clarify the legal aspect of the report: the police are specifically referring to suspicions of collaboration with an organized criminal group and the results of operational checks. The official statement contains no information about a court verdict that has taken effect regarding these citizens or about criminal charges brought against them. Therefore, it is currently incorrect to refer to them as members of a criminal group based on the published data.

Since 2022, the Ukrainian community has become one of the largest foreign communities in the small country of Montenegro. The actual number of Ukrainians with valid temporary protection can now be conservatively estimated at 6,000–7,000 people.

The situation is less clear regarding regular residence permits and permanent residency. The most recent complete breakdown by nationality from the Ministry of the Interior showed that as of October 31, 2023, 5,208 Ukrainian citizens held regulated temporary or permanent residence permits in Montenegro. The Ministry of Internal Affairs has not yet released any more recent official public data specifically regarding Ukrainian temporary or permanent residence permits for 2026. Therefore, it is not possible to state, for example, that exactly 5,000 or 7,000 Ukrainians currently hold regular temporary residence permits. In 2025, local media, citing registration data from the Ministry of Internal Affairs, estimated the total Ukrainian community at 10,000 people. This represents about 1.6% of the country’s population. For comparison, the latest census indicates that Montenegro’s permanent population is 623,633.

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Montenegro is preparing to strip president and ministers of their immunity in corruption cases

According to the “Serbian Economist,” on September 3, Montenegro’s Skupština (parliament) unanimously supported a proposal to amend the Constitution, which would remove the immunity of the country’s president, prime minister, and members of the government in cases of crimes against official duties, including corruption offenses.

All 66 deputies present at the session voted in favor of the proposal; there were no votes against or abstentions. A two-thirds majority of parliamentarians was required to initiate the constitutional amendment process.

This specifically concerns abuse of office, accepting and offering bribes, as well as other corruption-related crimes. The government explains these changes as necessary to address situations where the immunity of a high-ranking official becomes an obstacle to criminal prosecution.

The initiative was drafted by the government back in the spring of 2026. The Cabinet of Ministers proposed amending Article 86 of the Constitution to explicitly revoke immunity for the president and members of the government in cases of crimes against official duties. The government links this reform, in particular, to the implementation of recommendations from the Council of Europe’s anti-corruption group GRECO and Montenegro’s progress under Chapter 23 of the EU accession negotiations.

However, formally, immunity has not yet been abolished. Parliament has instructed the Constitutional Committee to prepare a draft of the amendments within four days. According to Article 156 of the Constitution of Montenegro, after the draft is approved by two-thirds of all deputies, it must undergo a public consultation lasting at least one month, after which the final text must again receive the support of two-thirds of Parliament.

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