| The number of foreign tourist visiting Montenegro increased 5.2% in 2012 following a 10.4% rise in 2011, statistics office data showed. In December alone, the number of foreign tourist dropped 10.5% m/m and 3.6% y/y. In our calculations the average monthly growth of foreign tourists was 5.7% in 2012, slower than a year earlier (10.6%). The number of tourists from European countries, which represented close to 96% in total foreign tourists visiting Montenegro in Dec, edged down 0.8% y/y. The majority of tourists came from Serbia (22.9% share in total), Albania (16.5% share) and Russia (10.3%). Total foreign tourist arrivals climbed 4.8% in 2012 after rising 8.7% a year earlier. According to the government, revenues generated from the tourism sector totalled EUR 680mn or over 20% of full year GDP in the first nine months of 2012. |
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