Montenegro's tourism revenues up by 3% y/y to EUR 609mn in Jan-Aug.

By bne IntelliNews October 3, 2012
Montenegro posted EUR 609mn in tourism revenue in Jan-Aug, up by 3% y/y, the tourism ministry informed. The government estimated that the revenues from tourism in 2012 will increase by 3% y/y, the statement said. The total number of tourists increased by 4.6% y/y to 1.15mn in Jan-Aug, while the overnight stays rose by 4% y/y to 7.67mn, the data of the tourism ministry showed. The majority of the foreign tourists came from Austria, followed by tourists from Belarus and Bulgaria. IntelliNews comment: Tourism revenue in Montenegro totalled EUR 671mn last year and the government projects a 3% rise in 2012. The tourism ministry told IntelliNews it estimates that this projection will be achieved and if the weather conditions continue to be favourable and the post-summer season is successful, the ministry sees even higher increase in revenues this year. The current share of tourism in the country's GDP is at last year's level, the ministry said. It quoted data released by the World Travel & Tourism Council last year, which estimated that the direct and indirect tourism revenue in Montenegro had a 17.2% share in GDP in 2011.

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