According to Serbian Economist, more than 160,000 apartments in Montenegro are not used for permanent residence: according to the 2023 census, there were 392,909 residential units in the country, of which 89,083 were used seasonally, and 71,204 were listed as temporarily vacant or abandoned. Thus, the total volume of such housing exceeds 160,000 units.
The Montenegro Tenants’ Association pointed out this imbalance. The organization stated that with such a large volume of vacant and seasonal housing stock, tens of thousands of families remain in precarious rental situations, often without formal contracts or legal protection. The association also warned of further increases in rent and real estate prices as long as a large “gray area” persists in the market.
For Montenegro’s economy, this means that the housing market is increasingly moving away from serving permanent residents and is increasingly catering to seasonal demand, tourism, and investment-based real estate models.
This problem is compounded by the continuing influx of foreigners. According to data previously cited by the Montenegrin Ministry of the Interior, as of September 10, 2025, there were 100,867 foreign citizens residing in the country, including 71,250 with temporary residence and 29,617 with permanent residence.
Among temporary residents, the largest groups were citizens of Serbia—about 24,538 people, Russia—21,153, and Turkey—13,396.
Specifically regarding the labor market in 2025, Montenegro issued 40,567 work and residence permits to foreigners from 107 countries. The largest group here was Turkish citizens—10,346 permits—followed by citizens of Serbia—8,148—and Russia—7,429. Other notable groups included citizens of Azerbaijan, Albania, Bosnia and Herzegovina, and Kosovo.
Ukrainians remain one of the largest foreign groups in the country, although their status is partially based on temporary protection rather than a standard residence permit. According to the Montenegrin government, temporary protection for individuals from Ukraine has been extended until March 4, 2027. Earlier reports citing the Montenegrin Ministry of the Interior indicated that as of June 1, 2024, 5,000 Ukrainian citizens were under temporary protection.
According to Serbian Economist, the authorities in Kotor, Montenegro, welcomed a group of 40 children from Ukraine aged 14 to 18, who arrived in the city as part of a humanitarian visit organized with the participation of the municipality and the Ukrainian Embassy in Montenegro.
According to a municipal announcement, the children are staying in Kotor from March 23 to 28, and the Ukrainian association “Dobro djelo” also participated in organizing the trip. At an official reception at the Byzantine Palace, the guests were welcomed by the Mayor of Kotor, Vladimir Jokić; the Ambassador of Ukraine to Montenegro, Oleg Gerasymenko; the Chairman of the Municipal Assembly, Vojin Batuta; Deputy Mayor Stojan Milović; and the Secretary for Culture, Sports, and Community Activities, Tatjana Krieštorac.
As Jokić noted, the host’s mission is to give the children at least a few days of peace and a sense of a normal childhood, interrupted by the war. During the meeting, city representatives emphasized that they want the stay in Kotor to become a bright memory for the Ukrainian teenagers and a time of respite from the realities of war.
The Ukrainian Ambassador to Montenegro thanked the municipality and residents of Kotor for their support, emphasizing the importance of such initiatives for children experiencing the consequences of war.
A packed program was prepared for the guests, including visits to Kotor’s museums, a boat ride around the bay, a trip to Perast, a tour of St. Tryphon’s Cathedral, a trip to Plavi Horizonti, a walk along the city’s fortress walls, as well as sports and other group activities.
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According to Serbian Economist, low-cost carrier Wizz Air will open its first hub in Montenegro at Podgorica Airport on March 30, 2026, and begin a phased rollout of 17 new routes to European cities. This was announced by Montenegro’s airport operator, Aerodromi Crne Gore.
According to the published information, the new flights will be introduced gradually from late March through mid-June. Among the announced destinations are Malmö, Paris-Beauvais, Hamburg, Maastricht, Catania, Bratislava, Barcelona, Basel, Rzeszów, Rome, Baden-Baden, Cologne, Ljubljana, Poznań, Vilnius, Gdańsk, and Wrocław.
As previously reported, Wizz Air will station two Airbus A321neo aircraft in Podgorica. According to the company’s estimates, the new base will create about 80 direct jobs and generate approximately 700 indirect ones, as well as increase tourist and business traffic through the capital of Montenegro. Back in October 2025, the carrier stated that the launch of the base and new routes is expected to add about 1 million seats per year.
For Podgorica Airport, the project also has infrastructure significance. Aerodromi Crne Gore previously announced plans to invest €21 million in equipment and modernization in 2026, with the main focus on Podgorica, where traffic is expected to grow by approximately 50%, in part thanks to the Wizz Air hub.
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According to Serbian Economist, the noble pen shell (Pinna nobilis)—one of the largest bivalves in the Mediterranean Sea—is no longer being recorded in Montenegrin waters, while the population of the related species Pinna rudis, on the other hand, is growing. This was reported by Radio Televizija Budva, citing data from marine biologists.
According to their information, the mass die-off of the noble pen shell in the Adriatic began several years ago and is linked to the spread of the parasite Haplosporidium pinnae, which infects the mollusk’s tissues and leads to its rapid death. As a result, no living specimens of this species are currently found in the coastal waters of Montenegro.
At the same time, experts note an increase in the population of the related species Pinna rudis, which has proven to be more resistant to the disease. This mollusk is smaller in size and has a different morphology, but occupies a similar ecological niche.
Ecologists emphasize that the disappearance of the pelasturus is a serious loss for the marine ecosystem, as this species plays an important role in water filtration and the maintenance of biodiversity. In this regard, the scientific community is calling for increased monitoring of the marine environment and the development of conservation programs for vulnerable species in the Adriatic Sea.
According to Serbian Economist, Montenegro is entering 2026 with relatively stable GDP growth, but with significant external imbalances and a growing role for fiscal policy as the main instrument of macroeconomic regulation. The country uses the euro as legal tender and is effectively deprived of standard monetary policy tools, so the key challenges for the economy lie in the budget, debt management, and structural reforms.
According to preliminary statistical data, Montenegro’s real GDP grew by 3.1% year-on-year in the third quarter of 2025. Estimates from international organizations generally fall within a range of around 3%: the IMF mission, for example, indicated a baseline growth forecast of 3.2% for 2025, attributing this, in particular, to a moderate tourism season.
Prices rose moderately in 2025, but inflationary pressures intensified by the fall. According to MONSTAT, consumer prices in January–November 2025 were on average 3.9% higher than in the same period a year earlier, and in December 2025, inflation stood at 4.0% year-on-year.
According to MONSTAT’s labor force survey, the unemployment rate in the third quarter of 2025 stood at 10.1% (with an employment rate of 56.0%). For an economy with a high share of services, this indicates a persistent structural gap between seasonal employment and stable jobs outside the tourist peak.
The IMF expected the general government deficit to widen to 3.6% of GDP in 2025 (after 2.9% of GDP in 2024). At the same time, the debt trajectory appeared manageable throughout the year: according to the Ministry of Finance, total public debt stood at €4.76 billion, or 58.59% of GDP, as of the end of September (compared to 61% of GDP at the end of 2024, according to the same source).
Tourism once again confirmed its status as a key generator of foreign exchange revenue.
The Central Bank reported that in January–November 2025, the number of tourist arrivals rose by 5% year-on-year to 2.67 million, and revenue from foreign tourists over the nine-month period reached €1.328 billion, slightly above the level of the previous year.
But it is the external environment that remains the main source of risk: the IMF expected the current account deficit to widen to approximately 18% of GDP in 2025, attributing this to a decline in electricity exports, signs of a weaker tourist season, and rising import demand.
The baseline scenario for 2026 is sustained moderate growth, provided that fiscal policy offsets external shocks and the economy begins to gradually shift from consumption to investment and diversification. Risks center on the external deficit and fiscal commitments, while opportunities lie in infrastructure projects, the energy sector, and the reforms necessary for European integration.
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According to Serbian Economist, Budva’s tourism industry will face a shortage of at least 5,000 seasonal workers during the 2026 summer season, the Investitor.me portal reported, citing Alexander Jovanovic, chairman of the Budva Restaurant Association. According to him, the problem of securing seasonal labor remains chronic for the resort, as interest from workers in Montenegro is declining.
The country’s largest hotel company—the largely state-owned Hotelska grupa Budvanska rivijera—has already begun recruiting staff for the summer and estimates its own need at approximately 600 seasonal workers. Through the employment service, the company has posted dozens of job openings, including waiters, cooks, bartenders, bakers, lifeguards, beach and pool attendants, housekeeping staff, and support personnel.
Budvanska rivijera stated that all seasonal workers are provided with housing and three meals a day, and that it continues to collaborate with agencies, vocational schools, and universities to attract students and trainees during the peak season—in July and August. At the same time, the company acknowledges that it has to seek new sources of recruitment outside the country.
Employers in Budva are increasingly hiring workers from Asia. Jovanović himself attributes the labor shortage in part to the fact that some Montenegrins prefer to leave for seasonal work in other tourist destinations, primarily in the EU and neighboring Croatia.
Montenegro’s growing dependence on foreign labor is also confirmed by broader statistics. In 2025, the country issued 40,567 temporary residence and work permits to foreigners, which is 6.7% more than in 2024. Permits were granted to citizens of 107 countries, with the largest groups consisting of workers from Turkey, Serbia,
Russia, Azerbaijan, Albania, Ukraine, Bosnia and Herzegovina, Nepal, North Macedonia, and India.
This situation indicates that, as the summer season approaches, Montenegro is becoming increasingly dependent on the external labor market, and the labor shortage in tourism is no longer a local problem for individual hotels but a systemic constraint affecting the entire coast.
