The World Tourism and Travel Council has released it’s Travel and Tourism Economic Impact 2011 report for Montenegro. The latest economic impact report from the WTCC ranks Montenegro #1 out of 188 countries in terms of growth in the travel and tourism industries.
The report estimates that travel and tourism will be directly responsible for 8.1% of Montenegro’s GDP in 2011, and indirectly responsible for 17.2%. By 2021, the WTCC predicts those numbers will grow to 14.8% and 36.3%. This will require growth in employment. The WTCC estimates that travel and tourism is directly responsible for 6.9% of employment in Montenegro, and indirectly responsible for 9.4%. The WTCC predicts that those numbers will grow to 13.3% and 33.2% by 2021. The direct contribution numbers include spending by tourists and spending by government to maintain tourist attractions such as museums and parks. The indirect numbers include the wider impacts of tourism, including investment by private businesses and spending by government to promote and support tourism.
In 2011, 89.8% of travel and tourism spending is expected to be for leisure purposes, with only 10.2% of spending for business purposes. Regionally, the Montenegrin tourism industry trails only Croatia’s. The travel and tourism sector is estimated to contribute 11.64% of Croatia’s GDP in 2011. Slovenian tourism trails at #3 with 3.39% of GDP.