In-depth country-focused analysis on Montenegro's economic, political and operational risk environment, complemented by detailed sector insight


Our comprehensive assessment of Montenegro's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Montenegro, as well as the latest industry developments that could impact Montenegro's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Montenegro before your competitors.

Country Risk

Montenegro Country Risk

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Core Views

  • Montenegro will continue to make slow but steady progress towards EU membership, despite significant challenges relating to fighting organised crime and corruption. There is a strong political will in the establishment and growing public consensus towards integration with the West.

  • The outlook for the Montenegrin economy is bleak due to tepid external demand, which will weigh on the tourism sector and agricultural exports. Meanwhile, tight credit markets will prevent a full recovery in domestic demand

Key Risks To Outlook

  • Despite not being part of the eurozone, Montenegro has adopted the euro as its currency since it went into circulation in 2002. As a consequence, the country is highly exposed to a potential disorderly breakdown of the eurozone. Although this is not our...

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Montenegro Industry Coverage (1)


Montenegro Telecommunications

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BMI View : The Montenegrin telecommunications market, reflecting its small size, is effectively saturated and there are few opportunities left for new entrants and existing players alike. Mobile subscription growth is volatile as operators focus on extracting greater value from existing customers and emphasise postpaid products as part of their 3G/4G rollouts. Prontotel seems ready to take up the government's offer of a fourth mobile licence in 2015; we see no room for it here, although we acknowledge its need to reduce its exposure to its core business in the VoIP market. Incumbent Crnogorski Telekom 's success in building a converged services product - with TV at its centre - sets a template for alternative operators, but there are none with the resources, scale or ambition to follow...

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Latest Montenegro Articles

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