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 101–150 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*
<0.1% |
| 85,786€ |
| -50.5% |
| -2,075€ |
| -2.4% |
| 1 |
| 845€ |
| 103 | Congress Support Team02942020 · Podgorica | <0.1% | 85,408€ | -46.6% | 3,380€ | 4.0% | 2 | 476€ |
| 104 | Elite Montenegro03036863 · Kotor | <0.1% | 85,139€ | -2.1% | 6,312€ | 7.4% | 1 | 2,586€ |
| 105 | Balkan Vacation As03708772 · Podgorica | <0.1% | 84,827€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -10,704€ | -12.6% | 2 | — |
| 106 | Lampadari02340666 · Ulcinj | <0.1% | 74,841€ | -8.7% | -14,233€ | -19.0% | 2 | 1,006€ |
| 107 | Prosvjeta02737884 · Podgorica | <0.1% | 72,121€ | +11.0% | 19,047€ | 26.4% | 2 | 1,658€ |
| 108 | Visit Mne03146308 · Podgorica | <0.1% | 62,562€ | +1,242.0% | -28,135€ | -45.0% | 2 | 1,209€ |
| 109 | Atlas Travel03296849 · Budva | <0.1% | 61,455€ | -29.5% | -71,189€ | -115.8% | 3 | 1,626€ |
| 110 | Doxa-M03231364 · Herceg Novi | <0.1% | 61,103€ | -2.4% | 1,211€ | 2.0% | 3 | 564€ |
| 111 | Draga Gora02986264 · Tivat | <0.1% | 59,594€ | -42.5% | -3,510€ | -5.9% | 3 | 1,125€ |
| 112 | Victoria Royal Group02829819 · Budva | <0.1% | 59,140€ | -56.5% | 10,371€ | 17.5% | 1 | 1,009€ |
| 113 | Trip & Travel Montenegro03172457 · Podgorica | <0.1% | 56,557€ | -35.0% | 5,575€ | 9.9% | 1 | 2,820€ |
| 114 | Discover Montenegro02983567 · Tivat | <0.1% | 51,240€ | +65.2% | 43,654€ | 85.2% | 1 | — |
| 115 | Balkan Star Travel03511499 · Podgorica | <0.1% | 51,091€ | +28,283.9% | 162€ | 0.3% | 1 | 797€ |
| 116 | Aurora Travel03002594 · Podgorica | <0.1% | 50,382€ | +140.6% | -4,401€ | -8.7% | 1 | 678€ |
| 117 | MCM02767023 · Ulcinj | <0.1% | 50,314€ | -9.0% | 2,232€ | 4.4% | 4 | 803€ |
| 118 | Road Trip Montenegro03245985 · Herceg Novi | <0.1% | 50,272€ | -7.0% | -21,762€ | -43.3% | 5 | 718€ |
| 119 | Thunder Travel Service03305155 · Podgorica | <0.1% | 48,100€ | +204.4% | 3,172€ | 6.6% | 1 | 929€ |
| 120 | Terranautika03186547 · Tivat | <0.1% | 47,811€ | -57.8% | -19,627€ | -41.1% | 2 | 935€ |
| 121 | Next Travel03227774 · Bar | <0.1% | 45,079€ | +155.2% | 3,383€ | 7.5% | 1 | 2,428€ |
| 122 | Amfora Risan03049922 · Kotor | <0.1% | 42,669€ | +1.5% | -7,460€ | -17.5% | 1 | 678€ |
| 123 | Familija Prokopenko03615987 · Budva | <0.1% | 42,062€ | +29.5% | 17,972€ | 42.7% | 1 | 926€ |
| 124 | Heaven's Light02934680 · Kolašin | <0.1% | 41,195€ | +345.4% | 27,823€ | 67.5% | 1 | 675€ |
| 125 | Planet Tours Montenegro03090892 · Podgorica | <0.1% | 39,441€ | +11.1% | 5,393€ | 13.7% | 2 | 550€ |
| 126 | Brajović Group03716651 · Danilovgrad | <0.1% | 38,706€ | +48,282.5% | 7,298€ | 18.9% | 1 | — |
| 127 | Flying Coco03392775 · Podgorica | <0.1% | 34,896€ | +87.4% | 866€ | 2.5% | 1 | 924€ |
| 128 | Big Blue.Co02280396 · Herceg Novi | <0.1% | 33,356€ | +122.5% | 4,587€ | 13.8% | 2 | 615€ |
| 129 | Classic Travel DMC03543455 · Danilovgrad | <0.1% | 32,383€ | +86.2% | 11,660€ | 36.0% | 1 | 891€ |
| 130 | Exclusive Tours - Ćulafić02396327 · Budva | <0.1% | 31,700€ | -22.3% | 17,197€ | 54.2% | 2 | 421€ |
| 131 | Polaris Travel Services Co03706176 · Podgorica | <0.1% | 30,800€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 2,504€ | 8.1% | 2 | 1,049€ |
| 132 | Dim World03282015 · Budva | <0.1% | 29,825€ | +75.6% | -18,943€ | -63.5% | 9 | 404€ |
| 133 | Adriatictour02957868 · Budva | <0.1% | 29,760€ | +172.1% | -4,269€ | -14.3% | 2 | 700€ |
| 134 | Jeep Tour 4 X 403541886 · Kolašin | <0.1% | 29,750€ | -0.4% | 2,044€ | 6.9% | 1 | 337€ |
| 135 | Extrem-Commerce02836793 · Nikšić | <0.1% | 29,669€ | -29.2% | 1,698€ | 5.7% | 2 | 346€ |
| 136 | Travelzoo03084388 · Kotor | <0.1% | 29,535€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,318€ | -7.8% | 2 | 643€ |
| 137 | Put Pod Noge03756203 · Podgorica | <0.1% | 27,953€ | No filing for 2024. | 575€ | 2.1% | 1 | 427€ |
| 138 | Art - Tours02252155 · Ulcinj | <0.1% | 27,834€ | -22.3% | 308€ | 1.1% | 2 | 627€ |
| 139 | Amore Adriatic03717739 · Herceg Novi | <0.1% | 27,613€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -13,394€ | -48.5% | 2 | 1,060€ |
| 140 | Vip Service02977966 · Budva | <0.1% | 27,601€ | -59.5% | -18,120€ | -65.6% | 2 | 643€ |
| 141 | MPT03302148 · Podgorica | <0.1% | 26,998€ | +0.1% | -917€ | -3.4% | 1 | 926€ |
| 142 | Montenegro Globe03354849 · Kotor | <0.1% | 21,878€ | -5.0% | -2,841€ | -13.0% | 1 | 965€ |
| 143 | Zona.M02814170 · Herceg Novi | <0.1% | 20,170€ | -6.5% | -34,855€ | -172.8% | 3 | 981€ |
| 144 | Monte Voyage03690172 · Tivat | <0.1% | 18,924€ | +688.5% | 2,793€ | 14.8% | 1 | 1,027€ |
| 145 | Montefantasy03568628 · Herceg Novi | <0.1% | 18,215€ | +214.5% | 5,143€ | 28.2% | 1 | 677€ |
| 146 | Robert's Travel02365243 · Podgorica | <0.1% | 17,522€ | -15.6% | 1,186€ | 6.8% | 1 | 925€ |
| 147 | Montenegro Memories03243087 · Kolašin | <0.1% | 16,278€ | -50.9% | 73€ | 0.4% | 1 | — |
| 148 | Glover02863936 · Budva | <0.1% | 16,021€ | +78.0% | -1,763€ | -11.0% | 1 | 780€ |
| 149 | Mornar02086069 · Budva | <0.1% | 14,277€ | +11.0% | 1,354€ | 9.5% | 1 | 786€ |
| 150 | Montenegro Holidays02397463 · Budva | <0.1% | 13,372€ | -59.1% | -13,162€ | -98.4% | 1 | 674€ |