Montenegro tops tourism growth list

26/03/2014

Tourism revenue in Montenegro is expected to grow more than 17 percent from last year. Also in business news: Turkey will begin to renegotiate its Customs Union Agreement with the EU by June.
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Montenegro ranked first on the list of 184 countries expected to show tourism growth. [AFP]

Montenegro ranked first in a World Travel and Tourism Council list of 184 countries based on the expected tourism growth rate during the next 10 years. The Sustainable Development and Tourism Ministry in Podgorica said tourism revenues last year represented 20 percent of GDP. In 2014, this share is expected to expand to 37.2 percent of GDP.

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Macedonian seasonal workers can count on finding jobs in Montenegro this summer, according to Vukica Jelic, the head of Montenegro's Employment Agency. At a meeting with Macedonian officials, she said the country needs workers in the construction sector, managers and IT experts.

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Turkey will begin to renegotiate its customs union agreement with the EU by June, Economy Minister Nihat Zeybekci said, adding that he has discussed the deal with EU officials. Critics of the current agreement, which was initiated in 1996, said it restricts Turkey's export competitiveness.

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Rating agency Moody's changed Cyprus' government bond rating from "negative" to "positive," citing the island's better-than-expected economic and fiscal performance in 2013. The agency affirmed the island's Caa3 rating, reflecting the still high risk of the country defaulting on its debt or undergoing debt restructuring over the medium term.

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Greece's economy is beginning to stabilise and will gradually return to growth, the Troika, which is comprised of the European Commission, the IMF and the European Central Bank, said after concluding a review mission in the country. The government vowed to continue implementing policies necessary to reach the 2015 targets.

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Croatia's parliament approved the country's revised 2014 budget after several months of debates. The new budget envisions lower budget deficit as demanded by the EU, which insisted in May the deficit should be below the 4.6 percent of GDP mark instead of 6 percent as originally planned.

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Serbia will invest 10 billion euros in environmental protection initiatives over the next decade, Energy Minister Zorana Mihajlovic told participants in Belgrade's Third International Ecology Fair, ECO EXPO 2014. She said investments in the area create an opportunity for new jobs and profit.

(Various sources -- 19/03/14-26/03/14)

This content was commissioned for SETimes.com.
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