Market Research In Montenegro

Montenegro Profile:

  • Montenegro is a sovereign state in South-eastern Europe and is divided into twenty-three municipalities and two urban municipalities.
  • Montenegro uses the euro as its domestic currency, though it is not an official member of the eurozone.
  • As of 2015, around 90% of Montenegrin state-owned companies have been privatized, including 100% of banking, telecommunications, and oil distribution.
  • Montenegro is a member of the UN, NATO, the World Trade Organization, the Organization for Security and Co-operation in Europe, the Council of Europe, the Central European Free Trade Agreement and a founding member of the Union for the Mediterranean.
  • Montenegro is currently planning major overhauls of its road and rail networks, and possible expansions of its air transportation system.

Montenegro Economy:

  • World Bank classified Montenegro as an upper middle-income country and Montenegro’s economy is transitioning to a market system.
  • Tourism, which accounts for roughly 20% of Montenegro’s GDP, brings in three times as many visitors as Montenegro’s total population every year.
  • In addition to tourism, energy and agriculture are considered two distinct pillars of the economy.
  • The government recognizes the need to remove impediments in order to remain competitive and open the economy to foreign investors.
  • The biggest foreign investors in Montenegro are Russia, Italy, Cyprus, Denmark, Hungary, and Serbia. Net foreign direct investment in 2016 reached $755 million and investment per capita is one of the highest in Europe.

Montenegro Facts:

  • Population: 642,550
  • Capital: Podgorica
  • Largest city: Podgorica
  • Area: 13,812 sq km
  • Major language: Serbian 42.9%, Montenegrin (official) 37%, Bosnian 5.3%, Albanian 5.3%, Serbo-Croat 2%, other 3.5%
  • Major religion: Orthodox 72.1%, Muslim 19.1%, Catholic 3.4%, atheist 1.2%, other 1.5%, unspecified 2.6%
  • Life expectancy: 74.4 years (Male), 78.6 years (Female)
  • Monetary unit: 1 Euro(EUR) = 100 Cents
  • Main exports: Non-ferrous metals, electricity, metalliferous ores and metal scrap, iron and steel, beverages, cork and wood and energy and petroleum products.
  • GNI per Capita: $17,900

Our Market Research Services in Montenegro:

We Employ A Wide Range of Research Techniques in Montenegro:

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