wiiw Forecast Reports

MONTENEGRO: Tourism to drive recovery in 2021


Bernd Christoph Ströhm

in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 98-101

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Montenegro suffered comfortable CESEE’s deepest contraction in economic activity in 2020, with GDP shrinking by 15.2% on the back of a steep decline in tourism revenue and the country’s limited fiscal cushion. In 2021, we expect economic recovery to be somewhat inhibited, with the government’s COVID-19 restrictions from 2020 radiating well into 2021. We still expect GDP to grow by 6.5%, boosted by tourism and remittances.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Montenegro