Since it re-emerged onto the world tourism
stage at the end of the 1990s, Montenegro has given top priority to the
redevelopment of its Travel & Tourism industry – an industry which,
prior to the Balkan conflict of the 1990s, earned it worldwide fame and
prestige due to its outstanding natural attractions.
“The government’s priority focus on Travel & Tourism, not least its investment in providing required infrastructure, is clearly paying off,” said Jean-Claude Baumgarten, Vice-Chairman of the World Travel & Tourism Council (WTTC), at the launch this week in Podgorica of WTTC’s latest economic impact study. “Montenegro is expected to be one of the fastest growing Travel & Tourism economies in the world over the next ten years.”
Presenting the main findings of this latest study, Baumgarten stressed the positive outlook for the country’s Travel & Tourism industry to the public and private sector stakeholders gathered for the launch, led by Predrag Sekuli?, Minister for Sustainable Development & Tourism.
“Despite the global 2008-09 economic recession and credit crisis, which resulted in a slowdown in the growth of tourism demand and investment in 2009 and 2010, demand has picked up this year and the outlook is considerably brighter,” Baumgarten noted. “Indeed, we are extremely optimistic about the growth prospects.”
Travel & Tourism’s contribution to GDP, employment, visitor exports and investment should rise sharply from 2011 to 2021, in some cases more than doubling in share.
By way of example, one third of all capital investment in the country (33.4%) will be made in the Travel & Tourism industry in 2011, according to WTTC’s research – one of the highest shares in the world. And this is forecast to rise to 50.8% by 2021, or €876.4 million.
“Although the global economic crisis resulted in the postponement, and even suspension of some new Greenfield projects,” Baumgarten noted, “as well as delays in upgrading existing hotels and resorts, private investment has now started to pour into major projects – such as Sveti Stefan, Porto Montenegro and Orascom’s integrated Luštica resort development.
“This explains why WTTC predicts an average annual rate of growth in Travel & Tourism investment for Montenegro of 16.4% a year from 2011 to 2021 – higher than for any other country in the world, and twice as fast as that for India and China.”
Main conclusions
Montenegro has everything a country needs to develop as a leading tourism destination, the study concludes – spectacular natural resources, including beautiful beaches and unspoilt nature, as well as a fascinating history and culture.
Tourists can participate in many different kinds of activities, from swimming and sunbathing to yachting, golf, hiking & biking, bird watching and adventure sports.
Thanks in part to its isolation during the Balkan War, Montenegro is also a destination that has avoided many of the pitfalls suffered by some traditional Mediterranean hotspots, such as over-building, congestion and the degradation of natural resources.
But most importantly, the Montenegrin Government has demonstrated a commitment to tourism development –¬ to developing the basic infrastructure to stimulate, support and facilitate investment, and to creating the underlying conditions necessary for market confidence, dynamism and sustainability. Among the different measures taken in recent years have been the simplification of procedures, reduced taxation, increased transparency and improved legislation – all with the aim of generating ‘smart growth’ in line with the longer-term goal of being a green economy.
Key recommendations
“WTTC commends the Government of Montenegro for its progress over the past ten years,” Baumgarten told delegates at the meeting. “The baseline forecasts are all very positive and we believe that Montenegro could even surpass these. But the underlying policy framework must continue to be conducive to growth.”
Three key issues are singled out in the report as areas of possible concern: human resource development and vocational training, improved access – especially in terms of direct air links – and marketing and promotion.
Measures are being taken to address these, but progress is sometimes too slow. And WTTC’s focus on the need for increased investment in marketing and promotions hit a very sore spot with Montenegro’s tourism stakeholders as the Ministry of Sustainable Development and Tourism is to suffer a significant drop in its annual budget for tourism sector for 2012.
“This is not the moment for budget cuts,” Baumgarten warned. “It is even more critical to step up marketing and promotional activity in difficult economic times – when one is coming out of a crisis. “That way, you will see even greater rewards when demand really recovers
“The government’s priority focus on Travel & Tourism, not least its investment in providing required infrastructure, is clearly paying off,” said Jean-Claude Baumgarten, Vice-Chairman of the World Travel & Tourism Council (WTTC), at the launch this week in Podgorica of WTTC’s latest economic impact study. “Montenegro is expected to be one of the fastest growing Travel & Tourism economies in the world over the next ten years.”
Presenting the main findings of this latest study, Baumgarten stressed the positive outlook for the country’s Travel & Tourism industry to the public and private sector stakeholders gathered for the launch, led by Predrag Sekuli?, Minister for Sustainable Development & Tourism.
“Despite the global 2008-09 economic recession and credit crisis, which resulted in a slowdown in the growth of tourism demand and investment in 2009 and 2010, demand has picked up this year and the outlook is considerably brighter,” Baumgarten noted. “Indeed, we are extremely optimistic about the growth prospects.”
Travel & Tourism’s contribution to GDP, employment, visitor exports and investment should rise sharply from 2011 to 2021, in some cases more than doubling in share.
By way of example, one third of all capital investment in the country (33.4%) will be made in the Travel & Tourism industry in 2011, according to WTTC’s research – one of the highest shares in the world. And this is forecast to rise to 50.8% by 2021, or €876.4 million.
“Although the global economic crisis resulted in the postponement, and even suspension of some new Greenfield projects,” Baumgarten noted, “as well as delays in upgrading existing hotels and resorts, private investment has now started to pour into major projects – such as Sveti Stefan, Porto Montenegro and Orascom’s integrated Luštica resort development.
“This explains why WTTC predicts an average annual rate of growth in Travel & Tourism investment for Montenegro of 16.4% a year from 2011 to 2021 – higher than for any other country in the world, and twice as fast as that for India and China.”
Main conclusions
Montenegro has everything a country needs to develop as a leading tourism destination, the study concludes – spectacular natural resources, including beautiful beaches and unspoilt nature, as well as a fascinating history and culture.
Tourists can participate in many different kinds of activities, from swimming and sunbathing to yachting, golf, hiking & biking, bird watching and adventure sports.
Thanks in part to its isolation during the Balkan War, Montenegro is also a destination that has avoided many of the pitfalls suffered by some traditional Mediterranean hotspots, such as over-building, congestion and the degradation of natural resources.
But most importantly, the Montenegrin Government has demonstrated a commitment to tourism development –¬ to developing the basic infrastructure to stimulate, support and facilitate investment, and to creating the underlying conditions necessary for market confidence, dynamism and sustainability. Among the different measures taken in recent years have been the simplification of procedures, reduced taxation, increased transparency and improved legislation – all with the aim of generating ‘smart growth’ in line with the longer-term goal of being a green economy.
Key recommendations
“WTTC commends the Government of Montenegro for its progress over the past ten years,” Baumgarten told delegates at the meeting. “The baseline forecasts are all very positive and we believe that Montenegro could even surpass these. But the underlying policy framework must continue to be conducive to growth.”
Three key issues are singled out in the report as areas of possible concern: human resource development and vocational training, improved access – especially in terms of direct air links – and marketing and promotion.
Measures are being taken to address these, but progress is sometimes too slow. And WTTC’s focus on the need for increased investment in marketing and promotions hit a very sore spot with Montenegro’s tourism stakeholders as the Ministry of Sustainable Development and Tourism is to suffer a significant drop in its annual budget for tourism sector for 2012.
“This is not the moment for budget cuts,” Baumgarten warned. “It is even more critical to step up marketing and promotional activity in difficult economic times – when one is coming out of a crisis. “That way, you will see even greater rewards when demand really recovers
No comments:
Post a Comment