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 1–50 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*
10.3% |
| 11,321,219€ |
| +4.4% |
| 224,433€ |
| 2.0% |
| 186 |
| 1,968€ |
| 3 | Grand02406535 · Podgorica | 4.8% | 5,310,029€ | -2.5% | 131,398€ | 2.5% | 23 | 1,017€ |
| 4 | Miross02274086 · Podgorica | 3.3% | 3,680,163€ | +42.6% | 20,182€ | 0.5% | 10 | 1,564€ |
| 5 | Nacionalna Turistička Organizacija Crne Gore Podgorica02242508 · Podgorica | 3.2% | 3,569,605€ | +2.8% | 142,991€ | 4.0% | 31 | 2,646€ |
| 6 | Adriatic Concierge Montenegro03142574 · Podgorica | 3.2% | 3,500,196€ | -2.6% | 236,242€ | 6.7% | 1 | 4,988€ |
| 7 | Globus Tours02804069 · Podgorica | 3.0% | 3,349,569€ | +0.5% | 304,901€ | 9.1% | 10 | 2,220€ |
| 8 | Rekra02368765 · Podgorica | 2.8% | 3,116,155€ | +24.8% | 10,126€ | 0.3% | 4 | 3,672€ |
| 9 | Oki Air Travel02875632 · Podgorica | 2.3% | 2,517,915€ | -26.8% | 37,084€ | 1.5% | 5 | 1,486€ |
| 10 | Globetracker03366553 · Podgorica | 2.3% | 2,493,631€ | +18.0% | 97,914€ | 3.9% | 2 | 1,030€ |
| 11 | Gallileo02349795 · Podgorica | 2.2% | 2,370,382€ | +10.2% | 39,744€ | 1.7% | 6 | 885€ |
| 12 | Explorer02443112 · Kolašin | 2.1% | 2,316,391€ | +4.3% | 3,419€ | 0.1% | 54 | 1,241€ |
| 13 | Eurasia Tourism03182401 · Budva | 2.0% | 2,157,129€ | +18.3% | 172,273€ | 8.0% | 1 | 699€ |
| 14 | Congress Travel02673053 · Podgorica | 1.8% | 1,965,583€ | -7.7% | 218,085€ | 11.1% | 33 | 2,072€ |
| 15 | Bta02410966 · Budva | 1.8% | 1,963,636€ | -2.4% | 9,681€ | 0.5% | 4 | 999€ |
| 16 | Marco Polo Travel Agency02920905 · Podgorica | 1.8% | 1,954,160€ | +23.8% | 46,619€ | 2.4% | 11 | 1,341€ |
| 17 | Kon Tiki Travel03139557 · Podgorica | 1.6% | 1,797,230€ | +19.3% | 39,682€ | 2.2% | 2 | 2,743€ |
| 18 | Southern Star03693651 · Podgorica | 1.6% | 1,797,043€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 266,161€ | 14.8% | 1 | 1,012€ |
| 19 | Inrut02456656 · Podgorica | 1.6% | 1,755,131€ | -6.3% | 126,477€ | 7.2% | 8 | 2,476€ |
| 20 | Zinza03327230 · Podgorica | 1.4% | 1,556,371€ | +14.0% | 36,546€ | 2.3% | 2 | 3,234€ |
| 21 | Marla Travel02769204 · Podgorica | 1.1% | 1,184,872€ | +74.7% | 40,747€ | 3.4% | 2 | 1,293€ |
| 22 | Kotor Shuttle03669017 · Kotor | 1.0% | 1,102,781€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 124,634€ | 11.3% | 6 | 1,559€ |
| 23 | Sip02116421 · Tivat | 0.9% | 940,331€ | -22.3% | 25,409€ | 2.7% | 6 | 1,244€ |
| 24 | Montenegro Concierge DMC03340449 · Tivat | 0.8% | 917,566€ | +98.8% | 290,317€ | 31.6% | 12 | 2,448€ |
| 25 | Talas-M02327023 · Budva | 0.8% | 888,389€ | +42.5% | 211,412€ | 23.8% | 17 | 1,975€ |
| 26 | Elite Events03042146 · Podgorica | 0.8% | 882,912€ | +6.9% | 4,240€ | 0.5% | 3 | 1,213€ |
| 27 | Travel Twitch DMC03483029 · Bar | 0.8% | 846,170€ | +488.3% | 12,780€ | 1.5% | 4 | 1,428€ |
| 28 | Magellan Travel Agency03105199 · Podgorica | 0.7% | 771,374€ | -3.0% | 11,330€ | 1.5% | 2 | 966€ |
| 29 | SKY Tours Montenegro02452502 · Nikšić | 0.7% | 723,011€ | +113.7% | 5,566€ | 0.8% | 1 | 8,744€ |
| 30 | Dsa02631393 · Budva | 0.6% | 624,203€ | -4.1% | 1,223€ | 0.2% | 5 | 678€ |
| 31 | Jet Travel02868814 · Podgorica | 0.6% | 608,311€ | -2.6% | -32,644€ | -5.4% | 3 | 1,404€ |
| 32 | Guliver02904870 · Podgorica | 0.5% | 604,305€ | +264.7% | -12,093€ | -2.0% | 3 | 996€ |
| 33 | North Tour Montenegro03175871 · Kolašin | 0.5% | 581,995€ | +40.4% | 57,924€ | 10.0% | 4 | 1,247€ |
| 34 | Hayat Travel03291316 · Bar | 0.5% | 564,134€ | +14.4% | 64,258€ | 11.4% | 2 | 1,077€ |
| 35 | Cosmopolitan DMC03288463 · Podgorica | 0.5% | 555,617€ | +24.9% | 37,962€ | 6.8% | 2 | 3,951€ |
| 36 | Arka02372363 · Nikšić | 0.5% | 555,264€ | +24.1% | 1,495€ | 0.3% | 2 | 587€ |
| 37 | Meridian DMC02707047 · Kotor | 0.5% | 499,180€ | +31.8% | 3,310€ | 0.7% | 8 | 835€ |
| 38 | Putnik San-Tours17618032 · Bijelo Polje | 0.4% | 491,321€ | +8.4% | 1,672€ | 0.3% | 1 | 419€ |
| 39 | Intours Plus Turistička Agencija02761394 · Podgorica | 0.4% | 487,810€ | -3.5% | 667€ | 0.1% | 1 | 1,182€ |
| 40 | Odigitrija02287005 · Budva | 0.4% | 484,807€ | +37.0% | 11,276€ | 2.3% | 6 | 1,134€ |
| 41 | Vipturs02760819 · Budva | 0.4% | 473,389€ | -4.3% | 386€ | 0.1% | 2 | 717€ |
| 42 | Sap02983265 · Nikšić | 0.4% | 471,955€ | -6.5% | 2,332€ | 0.5% | 3 | 1,015€ |
| 43 | Ufo Club03482073 · Bar | 0.4% | 456,459€ | -6.6% | 14,286€ | 3.1% | 3 | 630€ |
| 44 | Venn Tour03149609 · Podgorica | 0.4% | 450,147€ | -6.5% | 12,836€ | 2.9% | 21 | 941€ |
| 45 | Ostojić Company02709988 · Pljevlja | 0.4% | 436,804€ | +0.7% | 44,493€ | 10.2% | 14 | 432€ |
| 46 | Putnik Gold02349418 · Bar | 0.4% | 434,466€ | -4.8% | 4,324€ | 1.0% | 1 | 1,171€ |
| 47 | 3007 Travel Solutions03646092 · Kotor | 0.4% | 429,705€ | +373.5% | -382,133€ | -88.9% | 2 | 1,060€ |
| 48 | Stamena02992876 · Herceg Novi | 0.4% | 423,467€ | +17.8% | 4,006€ | 0.9% | 7 | 562€ |
| 49 | Novi Travel02840251 · Herceg Novi | 0.4% | 407,144€ | +19.3% | 52,735€ | 13.0% | 4 | 952€ |
| 50 | Crna Gora Tours02960591 · Budva | 0.4% | 387,100€ | +10.6% | 7,400€ | 1.9% | 2 | 15,065€ |