Tourism Policy And Institutional Economy In The Function Of Growth And Development Of The Destination Product Of Montenegro

Aleksa Vucetic

Montenegrin Journal of Economics, 2012, vol. 8, issue 3, 79-84

Abstract: Institutions, which directly or indirectly determine the "rules of behavior" in the tourism sector, represent the Institutional bases for tourism development in Montenegro. They are tourism policy-makers including other institutions which stimulate or dissimulate development of the destination product. In that sense, institutions in Montenegro cannot still be presided for optimization of intuitional norms in the domain of macro decisions important for functioning of the tourism sector. Reasons for that are numerous institutional rules, appearing as limitation thresholds for a more effective and efficient development of the tourism sector. The transitional problems are concerned to which Montenegro is not immune, as the youngest modern European state. In order to ensure the future healthy growth and development of the destination product of Montenegro, it is necessary to act promptly in setting up a stimulating institutional structure, so that future institutional norms would generate future tourism sector development in Montenegro. Otherwise, the current institutional framework could become the main obstacle to destination product development and losing the competitive advantages of the destination in the global tourism market.

Date: 2012
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