Montenegro 'the new Monte Carlo'
A growing number of billionaire residents are helping to turn Montenegro into a magnet for tourism and property investment, it has been claimed.
With super-rich Russian Oleg Deripaska and French magnate Bernard Arnault just two of the international tycoons now calling Montenegro home, the small Balkan country is quickly gaining a reputation for luxury, the Times reports.
Milan Rocan, the Montenegrin foreign minister, suggested that his nation could eventually surpass even one of Europe's most illustrious areas in terms of development.
"I call it the new Monte Carlo, that's what I tell people when I travel," he said.
"The people I meet tell me the real Monte Carlo is dull and it's got no potential left. Not like Montenegro."
A number of major projects designed to boost tourism are now underway in Montenegro, with new roads, better utilities and other infrastructure being developed.
Tourism minister Predrag Nenezic recently announced that income from tourism in Montenegro is set to reach 540 million euros by the end of 2008.
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