BAKU, Azerbaijan, September 22. Azerbaijan and Montenegro have significant potential to expand cooperation in the tourism sector, Montenegro’s Minister of Tourism, Simonida Kordic, said at the 1st Azerbaijan International Investment Forum in Baku, Trend reports.
“One of Montenegro’s most beautiful resorts was developed with Azerbaijani support. The total investment reached $1 billion, and the project has potential for further expansion,” Kordic noted.
She emphasized that tourism is the largest sector of Montenegro’s economy, accounting for about 30 percent of the country’s GDP.
“One third of all economic activity is related to tourism. This makes it a key strategic sector that influences all other aspects of economic, social, and political life in the country,” she added.
Kordic also highlighted that Montenegro currently hosts investors from more than 120 countries. The foundation of the country’s tourism development is the concept of quality tourism, with a standard of four stars and above. For high-level projects, a range of incentives is provided, primarily tax benefits along with other privileges.
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