Montenegro, located on the Adriatic coast, attracts more tourists each year. But life in Montenegro attracts not only travelers, but also potential foreigners who dream of a heavenly life by the sea or in nature. The lifestyle of Montenegrins can be described in this way: slowness, calmness and the ability to enjoy life. But before deciding on an important step such as moving to another country, you should be aware of all the advantages and disadvantages of your final destination.

Economy and Standard of Living at Montenegro

Montenegro’s economy and standard of living are characterized by a dynamic development that affects the quality of life: the tourism industry brings more profits every year, the real estate market develops, and the labor market is populated by foreign experts. When talking about the cost of living in Montenegro, it should be remembered that the cost of living and food here are much lower than in the European Union countries. Since Montenegro’s economy is weaker compared to the European Union, the standard of living in the country as a whole is lower. 

However, the government is trying to implement European standards in all Montenegrin governance systems. In recent years, the country has seen a rapid increase in wages, respectively, and the cost of living in Montenegro is also increasing in 2022.

Montenegrins’ average salary in 2022 is 785 euros. At the same time, residents of Montenegro claim that a family of three needs an income of at least 1,000 euros a month to live comfortably.

Average Prices in Montenegro

If you are interested in how much money you need for daily meal in Montenegro, then, on average 10-20 euros per person per day should be more than enough – it all depends on the choice of products and your diet habits. In addition, you should also take into account various household expenses: transportation, rentals, entertainment. If you plan to visit Montenegro as a tourist, you also need to take into account the cost of trips (25 to 45 euros per trip). On average, a day in Montenegro will cost about 25 euros per person, but if you are a tourist, it is wise to double or even triple this amount. It should be noted that accommodation prices in Montenegro vary depending on the location of the city: the closer it is to the holiday area, the higher it will be.

Average cost of goods and services:

The cost of household goods and services in Montenegro is relatively low than in the EU. The average prices of some goods and services are given in the table below:

Services/GoodsPrices (Euro)
Public Transportation€3
Parking (Daily)€0,75
Theater Ticket€7
Car Rental (Daily)€25
Leather Shoes€85

Cost of Food Products in Montenegro 

Products in Montenegro are environmentally friendly and of high quality. Products on the market (pijaca) are slightly more expensive than supermarkets but they are fresher and better. The average cost of basic food is shown in the table:

ProductPrices (Euro)
Eggs (10 units)€1,5
Veal (1 kg)€6
Chicken Meat (1 kg)€3,5
Fish (1 kg)€8,5
Vegetables (1 kg of carrot/cabbage/cucumber)€1,5
Rice (1 kg)€1,5
Juices (1 liter)€1
Tea (100 gr)€1,5

What Kind of Jobs Can You Count On in Montenegro?

Many tourists come to Montenegro in order to enjoy the sun by the Adriatic Sea in the summer, so it is quite easy to find a job in tourism sector at this time of year. The most popular vacancies are cooks, bartenders, waiters, maids, masseurs and chauffeurs.

Installers, engineers and builders can also find a job in Montenegro. It should be noted that Montenegrin employers are willing to hire certified professionals who can apply their expertise in information technology, science, business management and other fields. The average salary in Montenegro is about 785 euros per month, with a minimum wage of 450 euros in 2022.

Education System in Montenegro

Anyone who wants to live with children in Montenegro is interested in how the national education system is. It should be noted that schools in Montenegro are divided into two levels: primary education (9 years) and secondary education (3-4 years). Education is free in educational institutions at both levels. Graduation from primary school is mandatory and secondary school is optional. Higher education in Montenegro can be achieved in both state and private educational institutions/universities. The basic requirement for admission to higher education/university is Montenegrin language. There are preparatory courses for foreign students, and then a certificate is issued showing the level of proficiency in Montenegrin.

Real Estate Market in Montenegro

Property prices in Montenegro vary significantly by city or region. The lowest house prices are in cities which are far from the sea, such as Niksic.

Buy Real Estate in Montenegro

In Podgorica, the capital of Montenegro, 1 square meter of housing costs about 1000-1750 Euros. An apartment can be purchased in the center of the holiday town Budva for 1800-3200 €/square-meter. If you see prices around 5000€/m2 at first line by Budva beaches, do not get surprised. You have cheap options of course. For example apartments in Niksic are on sale for 550-750 € per square meter.

Real Estate for Rent in Montenegro

As an example, if you buy a one-room apartment for investment in Montenegro, such apartments in Podgorica can be rented for 300 euros per month, in Budva – for 350 euros and in Niksic – for 150 euros. Renting a three-room apartment is a little more expensive: the average rent in Podgorica is 500 euros per month, in Budva – 600 euros, in Niksic – 200 euros.

Entrepreneurship in Montenegro

Since the country attracts a large number of tourists from all over the world, opening a business in the tourism industry in Montenegro is the most profitable. In addition to yacht and boat rental in the country, the practice of real estate rental is also common, where new restaurants and hotel complexes are constantly opening.

If you are experienced in construction, you might think of construction business either. Especially there is a construction boom at the coast. A good profit may hide in constructing and selling/renting apartments/villas with exclusive sea views.

Registration of a company in Montenegro takes 7-10 days. After you get the ID number (20-25 days), you can start your business. Montenegro Experts can guide you on how to establish a company and  start your business in Montenegro.

Banking System in Montenegro

There are 13 banks in Montenegro, all private. Bank branches and ATMs can be found in any town and village. Bank employees usually speak English or Russian, so visitors can easily carry out banking transactions even without speaking Montenegrin. To open a savings or deposit account in a Montenegrin bank, a foreigner only needs to have a passport (for some passports only) or residency. On weekdays banks open at 8.00 and close at 16.00, on Saturday financial institutions are open until 13.00 (not all of them, please check before you go), Sunday is the holiday.

Official Language of Montenegro

The official language of Montenegro is Montenegrin. The language received official status in 2007 after the country withdrew from the State Union of Serbia and Montenegro. Since the official language of the Union is Serbian, most people living in Montenegro now still speak it today. Montenegro belongs to the Southern Slavic languages and is part of the Serbian-Croatian language system and is very similar to Serbian, with very little differences. The major difference between Serbian and Montenegrin is the alphabet; Serbian uses Cyrillic, whereas Montenegrin uses latin alphabet. In addition, the Montenegrin language does not have officially defined and approved rules. According to the 2011 census, 37% of the country’s population cited Montenegrin as their native tongue (in 2003, the figure was 22%).

Transport System in Montenegro

Due to the mountainous terrain, railway transport in Montenegro is poorly developed. The fact is that the construction of new railways requires tunnels, which are quite expensive for a developing country. The train passenger line starts in Belgrade (Serbia), passes through Podgorica and Bijelo-Polje and ends in Bar. In addition to passengers, there are two cargo branches in Montenegro: Pidhirtsi – Niksic and Podgorica – Shkoder (Albania). The country also has two international airports: Tivat and Podgorica. There are regular flights from the capital and charter flights from Tivat. You can use traditional public transport to get around the city: buses and taxis. Intercity passenger transportation is carried out by buses and minibuses. 

Public Transport in Montenegro

There are bus connections within the country and between Montenegro and other countries. Serbia, Croatia, Turkey, Albania, Bosnia and Kosovo are easily accessible from the capital and most cities. Double-decker buses are often used for international passenger traffic. Companies follow the schedule in general. You need to buy ticket at the ticket office, but if you don’t have a ticket and need to stop the bus at a random bus-stop, on the road or near the airport, you can ask the driver for seat availability and pay in the vehicle. It should be noted that the bus service do es not exist in all cities, but only in large cities – for example, Podgorica. 

Calling a Taxi in Montenegro

Both official taxis (licensed) and unofficial taxis (unlicensed) operate in Montenegro. Not every taxi has a common tariff, prices in licensed companies are about 30% lower than in private companies. You must request a price offer by phone before taking a taxi. It should be noted that all official taxis in the country are equipped with meters. In addition, licensed taxis are usually represented by cars of the same brand; this does not apply to the cars of unofficial owners.  Unofficial taxis may not propose the best condition and age.