SPA TOURISM MORE TO Montenegro
In the concluding part of our focus on the Balkans, we reveal the potential for spa development in Montenegro
TERRY STEVENS » MANAGING DIRECTOR » STEVENS & ASSOCIATES
a highly seasonal summer beach destination with Serbian and Kos- ovan families. It is now keen to make the transition to a more high value, international tourism market. Consequently, a focus on sus- tainable tourism – with a strong emphasis on wellness – is emerging as the way forward in both its coastal and inland mountain resorts. An independent state since 2005, Montenegro claimed its new
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constitution in October 2007. Tree years on, and the government has submitted its application for EU membership, its economy has stabilised and GDP has grown by 18 per cent per annum in recent years (although this is still one of the lowest in Europe). Tourism now accounts for 21 per cent of national GDP – equating to €480m (us$662.1m, £421.1m) a year – and is increasingly seen as a major economic activity. Te latest statistics from the Ministry of Tourism show that the country receives over 1 million tourists annually and this is set to grow further over the next 10 years, albeit slowing down in the face of the recession. Net foreign direct investment has been close to €600m (us$827.2m, £526.3m) per annum, two thirds of which have been in real estate including resort and spa projects.
overing just under 14,000sq km (5,405sq miles), Mon- tenegro has a small population of 650,000. Yet it attracts up to one million tourists a year. Located in south-east Europe, with an Adriatic coastline stretch- ing nearly 300km (185 miles), it has traditionally been
OPERATOR OPPORTUNITIES
Te transition towards higher value wellness tourism has already resulted in two major developments. In December 2007, the Hotel Splendid in Becici – one the country’s main coastal resorts which is owned by the STARS Hotel Group – opened an €8m (us$11m, £7m) spa. Te 3,000sq m (32,292sq ſt) Splendid Spa is linked to 13 wellness apartments with whirl- pools. Further south, on the island of Sveti Stefan, Aman- resorts (see SB10/2 p24) has redeveloped a luxury resort Villa Milocer, a former royal residence. Initially an eight- suite retreat, phase two will include 47 more suites and the creation of a fully-equipped, signature Aman Spa is due for completion in 2011. Elsewhere, opportunities for international operators exist in
the form of two tourism schemes – on Ada Bojana Island and in Valdanos Bay – that were put up for tender in 2008 by the country’s Ministry of Tourism. So far, the most significant investment inter- ests have come from Norway, Austria, Russia and Slovenia. Ada Bojana, an island surrounded by the Bojana River, is on the
southern coast of Montenegro and because of the site’s ecologically rich, beautiful environment and secluded private setting, the gov- ernment foresees the configuration and operation of an exclusive four- to five-star hotel/resort/village complex. Te vision is to create a resort that will reflect contemporary Mon-
Te island of Sveti Stefan (above) features an Amanresort development 68 Read Spa Business online
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tenegrin architecture and include up to 2,500 hotel bedrooms and recreational facilities and services. Te government anticipates that the development, once opened, will be listed in the international hospitality industry as a top nature resort.
SPA BUSINESS 4 2010 ©Cybertrek 2010
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