Country in the Balkan Peninsula

Note: Montenegro is only an EU candidate country and NOT a member of the EURO zone. The country has one of the lowest tax rates in Europe and advertises the location with attractive incentive programs. You do not have to exchange money here, because Montenegro has always used the EURO - and before that the DEUTSCHE MARK - sometimes as an official means of payment because of its stability.

Two simple numerical comparisons make it clear that, despite its small size, the former Yugoslavian state of Montenegro, in addition to its extensive nature, has an entrepreneurial landscape:

  • With about 14,000 square kilometers, the country is about the size of Schleswig-Holstein. However,
  • there are about 650,000 inhabitants, only about as many people as in the Swabian capital Stuttgart.
Plenty of space for mountains, lakes, forests, floodplains, innovations, challenges and new ideas - just the right location with a future for our company, the PROJECTHOR DOO.

Montenegro is dominated by the service sector, which accounts for around 70% of gross domestic product. The tourism sector has consistently shown high growth rates for years. Numerous hotels have been privatized, modernized and rebuilt. The high growth rates in visitor numbers, especially in the high season, are considerable.

Economic situation


After the slump in 2012, the economy has recovered rather quickly, stabilized and has one of the highest growth rates in Europe. The tourism and energy sectors are focal points of future economic development. In these areas, legislative amendments and progress have been made. The country is managing to make a notable change in the direction of EU accession, but, according to our information, it will not be able to join before 2024. This still offers a lot of opportunities and opportunities to actively participate in the boom to be.

The average income has increased, but the purchasing power continues to be rather low: the salaries and wages of the employees are on average about 480 € / month net.

Montenegro has joined major international institutions since its independence in 2006, including the World Bank and the IMF. In April 2012, Montenegro became a full member of the World Trade Organization and in 2017 they officially joined the NATO Alliance - these signals could not stand clearer!