Introduction

Montenegro (known in the local language as Crna Gora) is located on the Adriatic coast, below Croatia and opposite the heel of Italy.  It enjoys a Mediterranean climate, yet offers a long winter Ski season (its name means Black Mountain), together with picturesque beaches, lakes, countryside and mountains – all within a couple of hours drive.

Reports claim that this is the only time in history that Europe will take in a final wave of members: largely comprising the remaining ex-Yugoslavian states, reputedly due for membership between 2006 and 2010.

Montenegro is currently a state within the federation of Serbia and Montenegro under an agreement that is due to expire in February 2006, when it is reputed that Montenegro may push for independence from Serbia and progress to full EU membership as a ‘micro-state’, much the same as Luxembourg.

Montenegro adopted the D-Mark as it currency in 2000 to ensure it would adopt the Euro through the transition period.  In addition, Montenegrin law and statutes are being aligned with EU membership requirements and over 70% of the countries assets (communally held under the old regime) are being privatised. Foreign investment is increasing, with the past 18 months showing marked impacts across most asset classes

Montenegro is three hours flight from London, one hour drive from Dubrovnik (Croatia), and property prices are estimated at 75% of the price of like for like Croatian real estate.  However, Montenegro is the worlds first ecological state and offers sandy beaches, as opposed to Croatia’s pebble beaches, and low industrialisation.

Tourism attracted 250,000 visitors in 2004 (down from over 500,000 prior to the Balkan conflict) and is estimated to be growing at over 20% p.a.  The majority of tourism currently occurs during the three month summer high season (June – August), with significantly lower tourism during the shoulder months.  Winter tourism remains relatively low despite a six month ski season.