Fastest growing tourist economy
When the World Travel and Tourism Council released its 2005 Top Ten List of Travel & Tourism economies, for the second year in a row Montenegro was placed first as the fastest growing Travel & Tourism economy in the world. It forecasts that Montenegro will experience an annualised real growth rate of 9.9% between 2006-2114, higher than any other country.

Sunshine
Montenegro has 260 days of sunshine. Currently the majority of the coastline focuses on a two month tourist season, July and August and begins to wind down after this period. The potential for a six-month coastal season is obvious as the climate would still appeal to Western European and Scandinavian tourists from May to October thusly increasing the rental period and returns from holiday accommodation.

Annual tourist season
The Montenegro brand is still very much in the early stages of development, but the recognition it presently receives is primarily based along it's coastline. Additionally Montenegro has two ski resorts Zabljak and Kolasin, which go relatively unnoticed except by the population from this region. Both locations are just three hours from the coastline. Limited year round flight connections have restricted the potential for international tourists to enjoy Montenegro's winter season, introduction of year round flights would open up Montenegro internationally as a year round destination.

Infrastructure developments
In order to support this development key infrastructure projects have been identified as essential in stimulating and maintaining growth in tourism;

• Sozina tunnel, the Podgorica-Bar tunnel is now completed and connects the capital with the coastline in 30 minutes and less from the airport in Podgorica.
• Podgorica & Tivat airports, a programme of 70million euro investment is undergoing at the countries two main airports in order to upgrade them to international standards and are close to completion.
• Adriatic motorway, the extension of the Adriatic motorway from the Croatian border through Montenegro to Albania will result in a huge reduction in driving times from mainland Europe and also Clipi airport in Dubrovnik.
• The Verige bridge, will be completed over the Boka Kotorska Bay, part of the Adratic expressway, to be constructed at 200m to 300m in altitude, removing the current need for a ferry crossing when driving from Dubrovnik.

These combined developments will increase accessibility to Montenegro massively. In particular the ability of the country's two airports to cater for the demands of budget airlines. In other developing markets the introduction of a year round low cost airline has been the catalyst for massive growth in the number of foreign property buyers in particular from the UK and Ireland.

Controlled development
The Montenegrin government is determined to avoid over development, instead targeting a premium category of tourist with high purchasing power. This has been demonstrated with legislation imposing stringent restrictions on planning permission for any large developments and a focus on development of marinas, golf courses, four and five star hotels along with other premier facilities to cater for this target market. Investment in projects such as these and the grade of tourist they will attract are already driving appreciation of property values around these projects and will continue to do so for the foreseeable future.

Property rights and protection
A foreigner has exactly the same right to acquire a property as a Montenegrin citizen. Purchase of properties are primarily freehold. In order to purchase land a foreigner must do so through setting up of a company. A foreigner can take advantage of range of property opportunities that are not just limited to domestic citizen provided they have the appropriate representation.

Capital appreciation
There are varying reports on the extent of capital gains being made from property to date this year. Presently at a minimum investors have experienced a 15% increase in capital appreciation in the first six months of 2006 and this growth is forecast to be repeated in the remaining six months of the year.

Double taxation treaties
If you decide to sell your property investment, there are currently twenty double taxation treaties in place with other countries, preventing double taxation on the return from your investment should you decide to repatriate your profits. The Montenegrin ministry of finance is continually engaging other countries in an effort to expand this list to attract further investment.

Currency
The Euro is the national currency. This makes prices transparent and comparable with other countries using the euro while also removing the dangers and pitfalls of currency fluctuations and inflation that many other developing countries are liable to suffer from.

Lowest Corporation Tax rate
Montenegro has the lowest corporation tax rate in Europe at 9% which has been a key attraction for international investors and provides significantly greater returns over other countries competing for similar corporate and private investment capital.