As the smallest country of the Balkans, Montenegro has a relatively fragile economy which is transitioning to a market system and is based on financial investments, especially in the energy and tourism sectors (private investment accounts for 20% of GDP). The country’s economy grew by 3% in 2019, mostly due to infrastructure investment for the first part of the motorway connection between the port of Bar and Boljare, which was estimated to account for 6% of GDP. Private consumption was also among the key growth drivers, and should continue to do so in the upcoming years, with the economy expected to expand 2.5% and 2.9% in 2020 and 2021, respectively (IMF).
The general population is ambitious, open to new ideas and is regarded as “upmarket”. Its increase in diversity in recent years, popularity as a tourist destination and stable economy make it an attractive advertising market.