Revenue
27.0% of sector revenue
285 companies earned 109.88m€ in 2025, 27.0% of Administrative services sector revenue. Revenue has grown 2.5× since 2015.
27.0% of sector revenue
161 with at most one employee
Largest employer: PM Hotels (186)
Median company 1.4% · 42% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 51–100 of 285
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 43,568,232€ | 157 |
| 2016 | 46,053,643€ | 159 |
| 2017 | 56,934,748€ | 180 |
| 2018 | 63,092,450€ | 192 |
| 2019 | 75,584,797€ | 210 |
| 2020 | 23,613,785€ | 218 |
| 2021 | 49,101,847€ | 228 |
| 2022 | 69,527,285€ | 266 |
| 2023 | 90,853,878€ | 328 |
| 2024 | 101,325,904€ | 335 |
| 2025 (Preliminary) | 109,880,091€ | 285 |
Employees and payroll cost per employee per month*
0.3% |
| 343,145€ |
| -23.5% |
| 7,827€ |
| 2.3% |
| 2 |
| 802€ |
| 53 | Llolla Company02325705 · Ulcinj | 0.3% | 326,141€ | +64.9% | 74,450€ | 22.8% | 5 | 1,513€ |
| 54 | Montenegro Shorex02964210 · Kotor | 0.3% | 308,074€ | +2.1% | 31,969€ | 10.4% | 8 | 1,265€ |
| 55 | Mappamondo02672561 · Podgorica | 0.3% | 305,409€ | +59.8% | 42,874€ | 14.0% | 6 | 821€ |
| 56 | SL02979896 · Bar | 0.3% | 301,541€ | -18.0% | 1,547€ | 0.5% | 1 | 1,048€ |
| 57 | Balkan Montenegro Travel03573362 · Budva | 0.3% | 287,402€ | +44.6% | 1,107€ | 0.4% | 1 | 4,586€ |
| 58 | Fanfani02103834 · Herceg Novi | 0.3% | 285,254€ | -2.5% | -44,908€ | -15.7% | 12 | 540€ |
| 59 | Soko Tours02918897 · Herceg Novi | 0.3% | 284,204€ | -11.5% | -114€ | -0.0% | 1 | 991€ |
| 60 | Voyager Au Montenegro03170080 · Zeta | 0.3% | 282,271€ | -12.4% | 7,830€ | 2.8% | 1 | 2,028€ |
| 61 | Nord Star02794322 · Podgorica | 0.3% | 276,005€ | +40.6% | 6,125€ | 2.2% | 7 | 720€ |
| 62 | Mont Travel.Me03645231 · Kolašin | 0.3% | 275,910€ | +432.3% | 32,959€ | 11.9% | 1 | 2,035€ |
| 63 | Inter Travel Club02404362 · Podgorica | 0.2% | 272,364€ | +72.6% | 71,958€ | 26.4% | 6 | 823€ |
| 64 | Delfis02384167 · Kolašin | 0.2% | 269,037€ | -5.9% | 47,328€ | 17.6% | 2 | 702€ |
| 65 | Mac Sun D.M.C. Montenegro03302539 · Budva | 0.2% | 259,191€ | -8.2% | 1,058€ | 0.4% | 10 | 1,596€ |
| 66 | Adria Line02932156 · Budva | 0.2% | 247,115€ | +45.1% | 3,568€ | 1.4% | 1 | 18,667€ |
| 67 | International Travel & Lifestyle Service03566625 · Herceg Novi | 0.2% | 236,805€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 139,711€ | 59.0% | 2 | 3,682€ |
| 68 | ML Travel03107248 · Tuzi | 0.2% | 228,025€ | -7.4% | 692€ | 0.3% | 1 | 620€ |
| 69 | Balkan Tourist Travel Agency03265692 · Nikšić | 0.2% | 219,120€ | +83.6% | 7,024€ | 3.2% | 1 | 1,354€ |
| 70 | CKM International03556557 · Podgorica | 0.2% | 215,787€ | +780.5% | 22,033€ | 10.2% | 1 | 969€ |
| 71 | Kotor Mar02416123 · Kotor | 0.2% | 210,223€ | +42.8% | 69,433€ | 33.0% | 2 | 2,397€ |
| 72 | P & H02663376 · Tuzi | 0.2% | 202,087€ | -49.0% | -2,583€ | -1.3% | 1 | 678€ |
| 73 | Prestige Travel03250563 · Nikšić | 0.2% | 191,917€ | -15.6% | -17,978€ | -9.4% | 4 | 2,827€ |
| 74 | Kotour Travel Agency03120775 · Kotor | 0.2% | 189,336€ | +50.4% | 47,590€ | 25.1% | 3 | 845€ |
| 75 | Piloninternational02379511 · Budva | 0.2% | 185,839€ | -82.3% | 88,542€ | 47.6% | 4 | 1,150€ |
| 76 | Beatrix Group03406989 · Budva | 0.2% | 181,644€ | -28.6% | 17,969€ | 9.9% | 3 | 1,246€ |
| 77 | Montesol Travel Agency03169189 · Podgorica | 0.2% | 179,380€ | -15.1% | 79,196€ | 44.1% | 3 | 1,763€ |
| 78 | Euro Tours02936992 · Podgorica | 0.2% | 176,002€ | +350.3% | 15,412€ | 8.8% | 1 | 516€ |
| 79 | Travel To Montenegro03634531 · Podgorica | 0.2% | 170,086€ | +100.9% | -6,163€ | -3.6% | 3 | 862€ |
| 80 | Feel Free Travel03205932 · Budva | 0.2% | 166,851€ | +10.8% | 6,800€ | 4.1% | 1 | 1,002€ |
| 81 | Atlas - Tours02420694 · Podgorica | 0.2% | 166,474€ | -4.2% | 51,616€ | 31.0% | 6 | 935€ |
| 82 | ZNF Montenegro03101410 · Budva | 0.1% | 164,482€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,256€ | -6.8% | 5 | 596€ |
| 83 | Premier JŠ03461963 · Berane | 0.1% | 163,475€ | -11.2% | 10,682€ | 6.5% | 6 | 632€ |
| 84 | Mont Mar03239403 · Podgorica | 0.1% | 157,002€ | +33.4% | 11,356€ | 7.2% | 1 | 1,353€ |
| 85 | Aga Tours02625580 · Ulcinj | 0.1% | 147,623€ | -22.5% | 2,465€ | 1.7% | 1 | — |
| 86 | Levantin02048825 · Budva | 0.1% | 140,952€ | +14.8% | -3,765€ | -2.7% | 2 | 1,085€ |
| 87 | Marinero 103035956 · Bar | 0.1% | 139,712€ | +79.4% | 2,321€ | 1.7% | 2 | 921€ |
| 88 | Vila Jelka02349752 · Kolašin | 0.1% | 138,507€ | -10.9% | 4,330€ | 3.1% | 1 | 1,338€ |
| 89 | Demetra Tours02751399 · Podgorica | 0.1% | 123,686€ | +19.1% | 5,678€ | 4.6% | 2 | 1,706€ |
| 90 | Team Travel02977753 · Kotor | 0.1% | 116,380€ | +117.0% | -45€ | -0.0% | 3 | 674€ |
| 91 | Ide Travel02788624 · Herceg Novi | <0.1% | 109,858€ | +18.1% | 9,855€ | 9.0% | 5 | 1,193€ |
| 92 | Montenegro Pepe02819724 · Cetinje | <0.1% | 107,725€ | -35.7% | 486€ | 0.5% | 3 | 490€ |
| 93 | Doclea Travel & Tours03161536 · Podgorica | <0.1% | 106,438€ | -30.0% | -1,345€ | -1.3% | 2 | 1,466€ |
| 94 | Montenegro Adventures02620693 · Podgorica | <0.1% | 105,807€ | +19.8% | 6,074€ | 5.7% | 4 | 1,001€ |
| 95 | Aydin Tourism03365107 · Podgorica | <0.1% | 103,113€ | +3.4% | -10,339€ | -10.0% | 11 | 627€ |
| 96 | Travel Point Montenegro03137384 · Podgorica | <0.1% | 101,480€ | +34.6% | 15,613€ | 15.4% | 1 | 1,067€ |
| 97 | Montenegro Hostel02756382 · Budva | <0.1% | 97,693€ | -16.0% | -5,547€ | -5.7% | 2 | 1,166€ |
| 98 | Klik-Tour & Ivanco Travel02908328 · Bar | <0.1% | 92,605€ | +1.0% | 1,197€ | 1.3% | 2 | 875€ |
| 99 | Boka Sun02426161 · Herceg Novi | <0.1% | 89,958€ | +28.3% | 14,704€ | 16.3% | 6 | 628€ |
| 100 | 2R Travel02818574 · Podgorica | <0.1% | 86,991€ | -0.3% | 10,044€ | 11.5% | 4 | 817€ |