Promising Business Sectors in Montenegro

Published on October 5, 2025 and written by Cyril Jarnias

Montenegro, a small Balkan country nestled between sea and mountains, offers significant economic potential for visionary entrepreneurs. With its NATO membership in 2017 and EU candidate status, Montenegro is experiencing sustained economic growth and attracting increasing foreign investment. Let’s explore together the most promising sectors for developing a thriving business and ways to fund your project in this rapidly expanding country.

Montenegro’s Economic Gems: Future-Oriented Sectors with Strong Potential

Montenegro abounds with opportunities across various fields, offering fertile ground for bold entrepreneurs. Here are the most promising sectors for developing your business in this rapidly transforming country:

Tourism: An Essential Pillar of the Economy

The tourism sector represents nearly 25% of Montenegro’s GDP and continues to grow year after year. With its sandy beaches, majestic mountains, and rich cultural heritage, Montenegro attracts more and more visitors from around the world. Numerous opportunities exist in this field:

• Development of upscale and eco-friendly accommodations
• Creation of recreational and adventure activities
• Establishment of dining services highlighting local cuisine
• Organization of cultural and sporting events

The Montenegrin government has implemented attractive tax incentives for tourism sector investors, including a reduced 7% VAT for accommodation services.

Renewable Energy: A Booming Sector

Montenegro has set ambitious renewable energy targets, aiming to produce 33% of its electricity from clean sources by 2030. This proactive policy opens numerous opportunities for companies specializing in:

• Solar energy
• Wind energy
• Hydroelectric power
• Biomass

The country offers ideal natural conditions for developing these energy sources, with significant sunshine, consistent winds, and numerous watercourses. Additionally, the government has implemented attractive feed-in tariffs for electricity produced from renewable sources.

Agriculture and Food Processing: An Underutilized Potential

Although agriculture currently represents only 7% of Montenegro’s GDP, this sector offers significant growth potential. The country has favorable climate conditions and fertile lands suitable for diverse agriculture. Numerous opportunities exist in:

• Organic fruit and vegetable production
• Viticulture and olive cultivation
• Livestock farming and dairy production
• Food processing

The Montenegrin government has implemented subsidies and support programs to encourage agricultural and food processing development, particularly for innovative and environmentally friendly projects.

Information and Communication Technology (ICT): A Rapidly Growing Sector

The ICT sector in Montenegro is experiencing rapid growth, with an average annual increase of 15% in recent years. The country is heavily investing in digital infrastructure and training local talent. Numerous opportunities exist in:

• Software and application development
• IT outsourcing services
• Cybersecurity
• Artificial intelligence and big data

The Montenegrin government has implemented attractive tax incentives for ICT companies, including corporate tax exemption for the first three years of operation.

Funding Your Business Project in Montenegro: Solutions Tailored to Every Need

Funding is a crucial element for developing your business in Montenegro. Fortunately, the country offers various options to raise funds and support your growth.

Local Banks: Trusted Partners for Your Development

Montenegrin banks offer a diverse range of financial products tailored to business needs:

• Short and long-term loans
• Credit lines
• Leasing
• Bank guarantees

Major banks in the country, such as Crnogorska Komercijalna Banka (CKB) and Prva Banka Crne Gore, offer favorable conditions for growing businesses. It’s recommended to compare offers from multiple institutions to get the best terms.

Investment Funds: Strategic Partners for Your Growth

Montenegro is attracting increasing local and international investment funds interested in the country’s growth potential. These funds can provide not only capital but also valuable expertise for your business development. Key players include:

• Montenegro Investment and Development Fund (IRF)
• European Investment Fund (EIF)
• Regional venture capital funds like South Central Ventures

These funds typically offer equity investments or loans on favorable terms, in exchange for a stake in your company or future repayment.

Government Support Programs: A Boost for Your Project

The Montenegrin government has implemented several business support programs aimed at stimulating innovation and economic growth. Key initiatives include:

• SME Competitiveness Support Program
• Innovative Entrepreneurship Development Program
• Business Internationalization Support Program

These programs offer grants, preferential rate loans, or credit guarantees for projects meeting specific eligibility criteria.

Crowdfunding: An Innovative Alternative to Fund Your Project

Although crowdfunding is still relatively new in Montenegro, it’s gaining popularity as an alternative funding method for startups and small businesses. Several local and regional platforms enable fundraising from individual investors:

• Funderbeam SEE
• Crowdestate
• Seedblink

These platforms offer the possibility to raise funds quickly while benefiting from increased visibility for your project.

Conclusion: Montenegro, Fertile Ground for Your Entrepreneurial Success

Montenegro offers a favorable environment for business development, with promising sectors experiencing rapid growth and diverse funding options. Whether you want to venture into tourism, renewable energy, food processing, or information technology, this small Balkan country abounds with opportunities for ambitious entrepreneurs.

By combining different available funding sources and leveraging government support programs, you can bring your business project to life under optimal conditions. Remember to thoroughly research local market specifics and surround yourself with trusted partners to maximize your chances of success.