Government to Unveil Tourism Recovery Plan Amid Alarming Drop in Revenue
The drop in tourism revenue for 2024 serves as a significant warning for our economy, stated Montenegrin President Jakov Milatović.
He referred to today’s article in “Vijesti,” highlighting concerning statistics from the Central Bank and Monstat regarding the decline in tourism and the deteriorating trade balance, indicating that this marks the first decline in tourism in two decades.
“I previously addressed this issue in November of last year when we examined data for the first three quarters. This is the first instance since Montenegro regained independence, excluding the pandemic year of 2020, where tourism revenues have fallen compared to the previous year. The tourism industry is entering 2025 with an additional challenge due to the hike in VAT from 7 to 15 percent, which could further diminish our international competitive edge,” Milatović expressed on Iks.
He urged the Government to publicly outline a plan of action aimed at revitalizing the tourism sector, given its critical role in the nation’s overall economic performance.
“This is now a crucial matter for the stability of our economy and public finances,” the president emphasized.
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