Montenegro is a country located in southeastern Europe on the Balkan Peninsula, with a coastal extension on the Adriatic Sea to the south. Due to its enchanting natural beauty and majestic mountains surrounding the coast, it was called “Monte Negro” by the inhabitants of Venice in the 15th century, which means “Black Mountain” in old Italian.
Montenegro is a European country, but it is not a member of the European Union. The European Commission nominated Montenegro for EU membership in 2010, and it is expected to join the EU by 2025. This will greatly increase the benefits enjoyed by the citizens of Montenegro. The country’s currency is the euro (€), and it is considered a relatively affordable European travel destination and one of the safest tourist destinations. Montenegro is also a member of the United Nations, NATO, the World Trade Organization, the Organization for Security and Cooperation in Europe, the Council of Europe, the Central European Free Trade Agreement, and a founding member of the Union for the Mediterranean.
Montenegro is one of the most beautiful tourist destinations in Europe and has become one of the fastest-growing small countries in terms of tourism in recent years. It attracts millions of tourists from around the world annually due to its abundant natural treasures, including towering mountains, dense forests, turquoise lakes, sun-drenched beaches, and unique historical and cultural landmarks.
Montenegro is rapidly gaining status as one of the preferred investment destinations for business leaders and foreign investors due to its high investment standards and desirability as a place to live. In addition to tourism, the country offers extensive investment opportunities, thanks to its diverse cultures, geographic location, political and economic stability, safety, quality of life, and moderate climate.
Montenegro in Numbers:
| Area | 13.812 km2 |
| Population | 622.227 |
| Capital | Podgorica |
| The political system | Parliamentary democracy |
| Currency | Euro (€) |
| Telephone code | +382 |
| Current / voltage | 220V/50Hz |
| Municipalities | 24 |
| Time zone | GMT +1 |
| Geographic coordinates | 42° 30′ N, 19° 18′ E |
| Language | Montenegrin |
| GDP | $7.027 billion (nominal, 2023 est.) $17.282 billion (PPP, 2023 est.) |
| Per capita income | 11.289,14 € (2023) |
| GDP growth | +4.7% (2017) +5.1% (2018) +4.1% (2019) -15.3% (2020) +13.0% (2021) +6.4% (2022) +3.2% (2023) |
| Number of banks | 13 |
| Corporate tax | 9% |
| Personal income tax | 9% |
| VAT | 21% / 7% / 0% |
| Number of tourist | 2.2 million (2022) |
| Climate | Continental, Mediterranean and Mountain |
| Average number of sunny days | 240 |
| Swimming season | 180 |
| Road network | 7.835 km |
