Focus On - Travel

by UNWTO

Investing in

PEOPLE, PLANET AND PROSPERITY

World Tourism Day 2023 will be a call to action to unite around a new tourism investment strategy

The overall disruption in the tourism sector brought about by COVID-19, provides an opportunity to redefine and recalibrate the direction and narratives of tourism investments with the objective to better support the successful implementation of the Agenda 2030 and the Sustainable Development Goals. Therefore, UNWTO has identified investments as one of its key priorities for tourism’s recovery and future growth and development.

UNWTO highlights the need for more and better-targeted traditional and non-traditional investments are required for People, for Planet and for Prosperity, to enable tourism to deliver on its massive potential to

provide opportunities for people, to build resilient, to accelerate climate action and greater sustainability for the planet and deliver inclusive prosperity around the pillars of innovation and entrepreneurship.

UNWTO has identified investments as a key priority for the sector, serving as the bridge between its Member States, destinations, businesses and investors, culminating in World Tourism Day 2023, which will be a call to action to the inter-

national community, governments, multilateral financial institutions, development partners and private sector investors to unite around a new tourism investment strategy.

The international observance day for tourism will highlight the vital need to deliver investment for projects that work for People (by investing in education and skills), Planet (by investing in sustainable infrastructure and accelerating green transformation) and Prosperity (by

THE CRISIS HAS REVEALED THE NEED TO RETHINK THE STRUCTURE OF TOURISM ECONOMIES TO IMPROVE COMPETITIVENESS AND BUILD RESILIENCE

investing in innovation, technology and entrepreneurship).

Investing in People: Prioritizing Education and Upscaling Skills

“Education is a fundamental human right. It’s the bedrock of societies, economies, and every person’s potential. But without adequate investment, this potential will wither on the vine” - Secretary-General of the UN, on the occasion of the International day of Education (2023).

The crisis has revealed the need to rethink the structure of tourism economies to improve competitiveness and build resilience and accel-

erate the implementation of SDG 4 (quality education). To that end, the sector should invest in education and skills development, including for women, in all areas to promote added value jobs and resilience. We cannot build a more sustainable tourism without the right talent.

Tourism is one of the world’s leading employers. In 2019, the sector employed one in 10 people worldwide and has proven to be a tool for economic diversification and a major employment engine with a multiplier effect on other sectors that contribute to rural development. Furthermore, tourism in rural areas can particularly benefit traditionally disadvantaged groups such as women - who make up 54% of the workforce in the tourism sector compared to 39% for the whole economy - youth and Indigenous people. Tourism is also an easy access sector for micro and small enterprises and for the self-employed, who make up a significant part of the tourism sector and community-level entrepreneurship in general.

However, in emerging destinations, 50% of young people are unable to work in tourism due to lack of opportunity, resources or access to academic training. Furthermore, current education and training opportunities are unbalanced, with a heavy emphasis on hotel management. Looking ahead, the global tourism workforce will require millions of hospitality graduates annually between now and 2030 and a further 800,000 jobs a year will require specific vocational training.

For these reasons we need to invest in people as they are the foundation of tourism and his is why UNWTO is dedicated to empowering them and placing investments into the heart of our future actions.

Investing in Planet: Supporting Tourism’s green transition

We need to ensure that the tourism sector delivers on its responsibilities as a solution to the climate emergency, as one of the most urgent and pressing risks and challenges of the next 10 years, according to the Global Risk Report 2023, prepared by the World Economic Forum.

The green transformation of the tourism sector is very much needed, not just for the planet, but also for tourism itself, for boosting competitiveness and increasing resilience, and green investments and innovation in the tourism sector must play a leading role to support this transformation and the implementation of the green goals of the Agenda 2030 and the SDGs.

Within this context, hotel investment has a crucial role to play and represents as one of the biggest parts of traditional investments, as the global hotel investments volume increased 131% year to year, totaling US$ 66.8 billion in 2021, as the pandemic opened up various opportunities, especially related to green buildings and retrofitting.

Looking into the future, the need to reduce emissions provides an investment opportunity of $24.7 trillion in the green buildings sector of emerging market cities by 2030, in which hotels, resorts and restaurants account for $1.5 trillion. In

addition, tourism faces a lot more investment opportunities related to new solutions and technologies to decarbonize the sector as well as to ensure climate resilient infrastructure through adaptation solutions. Tackling all these opportunities will help bridge the $4 trillion annual investment gap for achieving the Sustainable Development Goals in the developing world.

Hence, it is time rethink the existing frameworks and approaches vis a vis tourism investment for accelerating the sector’s green transition. We have an opportunity presented by the pandemic to develop global and regional partnerships and green investment frameworks and innovative financial initiatives for the tourism sector to support the global commitment to halve emissions by 2030 and reach Net Zero as soon as possible before 2050.

Investing in Prosperity: Fostering Innovation and Entrepreneurship Digitalization and innovation programs are a strategic priority to

support particularly young people and women, which are critical to upskill the tourism sector’s workforce. Moreover, the global need to increase the level of investments in programs which support and incentivize entrepreneurship and generate opportunities for innovations are highly need it in the tourism sector.

Furthermore, women’s empowerment are fundamental components of just, equitable societies. Tourism has been proven to provide pathways to empowerment, and that the opportunity for tourism to make a difference in this area should be maximized. According to UNWTO’s Global Report on Women in Tourism Second Edition, 54% of people employed in tourism are women while 39% of people employed in the broader economy are women. Therefore, we must put more emphasis on support for female entrepreneurs. World leaders need to act now and act decisively to invest in policies that promote more and better jobs for women and equal pay at work. Female entrepreneurship is on the rise globally and has proven its ability to drive economic growth and poverty reduction. However, with less than ten years left to meet the targets set out by the 2030 Agenda, the full potential of women-led businesses has yet to be unleashed. Investment in women entrepreneurs is an investment in change because they bring so much to the table: innovation, competitiveness, new values.

Therefore, investments in innovation and digitalization and its cross-sectorial impact have a multiplier potential to not only strengthen strategic large global and regional projects, but also stimulate the tourism recovery and safeguard jobs by supporting the survival of MSMEs, mitigating the economic systemic impact, sustaining employment, and creating the conditions needed for future growth, post pandemic.

THE GREEN TRANSFORMATION OF THE TOURISM SECTOR IS VERY MUCH NEEDED

- A GIFT TO FUTURE GENERATIONS Zlatibor

Aceremonial academy in the Zlatibor Cultural Center and a concert by the RTS Symphony Orchestra and Choir in Zlatibor, in the presence of Minister of Internal and Foreign Trade Tomislav Momirović, Director of the Tourist Organization of Serbia Marija Labović, Director of the Tourist Organization of the Republic of Srpska Miodrag Lončarević, numerous restaurateurs and hard-working Zlatibor residents, marked the anniversary of 130 years of organized tourism on this most visited mountain in Serbia. The late poet Mihajlo Ćupović and the

painter Božidar Kovačević, as well as the poet from Zlatibor Ljubivoje Ršumović, received awards for their contribution to the development of tourism in Zlatibor, and special recognition went to Arsen Djurić, the former director of the Zlatibor Tourist Organization and today the president of the Čajetina Municipal Assembly.

Addressing the audience, the president of the municipality of Čajetina, Milan Stamatović, pointed out that Zlatibor, located in a small but proud local community, has been striving to become a world-famous tourist destination from ancient times until today. „If you love your place and believe in what you do, success will not be absent. For

people from Zlatibor, the criterion is that they are friendly and not selfish. With our example, we show that we want to change something, that we don’t keep Zlatibor for ourselves, but give it to our tourists and investors who are always welcome here,” emphasized Stamatović.

He added, „The Zlatibor gondola showed that we had a bit of that mountain audacity and courage, that we pushed through that project, and that we will not stop there.” I am glad that our ministries and government recognized what we want to do, and Zlatibor should be the starting point of those gondolas we will build in the future, from Tornik to Priboj and Čigota. Earlier, we had the idea to build towards Mokra Gora as well, and I hope that all of this will be able to be realized in the coming years and that the entire Zlatibor district will develop in this way from Zlatibor.”

Director of the Tourist Organization of Serbia, Marija Labović, stated that Zlatibor contributes as much as 10 percent to Serbia’s tourist traffic. „The long-term effort certainly paid off because Zlatibor has become one of Serbia’s most important tourist destinations. I will tell you how significant it is that last

On Zlatibor, the jubilee of 130 years of organized tourism was marked on this most visited Serbian mountainon the Adriatic

WE HAVE CREATED A MODERN TOURIST ZLATIBOR, PRESERVED NATURAL BEAUTY, WITH IMPRESSIVE BUILDINGS AND A WEALTH OF CONTENT

year was a record year in Serbian tourism. We had 3.8 million tourist arrivals and even 12 million overnight stays, and two billion 438 million euros in foreign currency inflow. For the first six months of this year, we can already see that these results will be exceeded because we already have over 5.5 million overnight stays”.

„This is an opportunity to congratulate our hosts in Zlatibor for their brave vision when it comes to developing this destination. Now we have the longest cable car in the world, a destination that has hotels of all categories, and so many additional facilities that every tourist has something to offer. Also, I would like to take this opportunity to thank my colleagues from the Zlatibor Tourist Organization for all the projects that we jointly implemented to promote Zlatibor and the whole of Serbia,” added Labović.

The President of the Čajetina Municipal Assembly, Arsen Đurić, emphasized that „it is a great honor and pleasure for him that everyone in Zlatibor is a part of that long and rich history, the bright pages of which were written by many famous

REPRESENTATIVES OF THE DIPLOMATIC CORPS AND INTERNATIONAL ORGANIZATIONS VISIT ZLATIBOR

The tourist organization of Zlatibor hosted representatives of the diplomatic corps and foreign chambers of commerce, who, organized by Color Media Communications and Diplomacy&Commerce magazine, attended the celebration of 130 years of organized tourism on the „golden mountain.”

In the period from August 18th to 20th, ambassadors and representatives of Romania, Israel, the European Union, North Macedonia, and others, as well as representatives of the Croatian Chamber of Commerce and the Croatian Economic Club, visited Zlatibor. They were joined by the director of Color Press Group, Robert Čoban, and the editor of Diplomacy&Commerce magazine, Dragan Nikolić.

About 20 representatives of foreign countries who visited Zlatibor had the opportunity to see for themselves the prestigious title of tourist leader among the mountains of Serbia. The tourist organization Zlatibor introduced them to the diverse tourist offer of this tourist center. On that occasion, they visited the famous speleological facility, Stopića Cave, got to know the symbols of Zlatibor on the restored King’s Square, and found themselves at the place of the beginning of organized tourism on Zlatibor, next to the King’s Fountain, while a ride on the longest panoramic cable car in the world „Gold gondola” attracted their attention. As they say, the gondola appeared as a „crown” in the period when Zlatibor celebrates 130 years of organized tourism, which put this mountain on the map of world destinations.

Natural beauty, investments, work, and tourist commitment led to the fact that Zlatibor is better organized, more visited, and stronger than ever, celebrating the 130th anniversary of organized tourism as a meeting place for representatives of the diplomatic corps and international organizations, numerous tourists, representatives of the media, the tourism industry and others...

people from Zlatibor with their creations, skillfully incorporating new values - hotel and other buildings, valuable projects and various contents - to the beneficial nature and unrepeatable beauty of the most visited mountain in Serbia. Behind this air spa is 130 years of tourism, a demanding and long journey through time, in which we have also left a valuable mark, leading our region on the paths of development for two decades. Through

that Zlatibor is today on the pedestal of Serbian, regional, European, and world tourism.

„Let me mention Sekula Knežević, an engineer whose work is gold worth for our mountain, Čedomir Petrović, the biggest restaurateur of Ribnica, in whose time, according to the press of the time, every activity moved to the foot of Tornik during the hot summer days. Then Mijail Jevremović and his mechanic, Aleksa Popović, the famous Beg of Ribnik, Jovanka Jeftanović, Panto Mijailović, Miladin Pećinar and other great people of our Zlatibor. Those names, as well as the surnames of Pećinar, Smiljanić, Djenić, Tucović, and other famous Zlatibor families, worthy of respect and respect, oblige us today to improve and develop our Zlatibor even more with our work, and to selflessly share its benefits and beauties with to our guests,” he pointed out Živanović.

„Also, today is the right day to remember the Transformation of 2015, when we, led by our municipal president, Mr. Milan Stama-

tireless work and will, constant investments in modernization, bold visions, and brave decisions. Thanks to that, from a small place with beautiful nature but a modest offer and accommodation, we have created a modern tourist Zlatibor, preserved natural beauty, with impressive buildings and a wealth of content. To the pride of the generations of the Zlatibor region”.

Vladimir Živanović, the current director of the Zlatibor Tourist Organization, reminded those who are among the most deserving

tović, gathered above the Zlatibor market and started bravely and decisively in the struggle that will usher us into a new era of development in Zlatibor tourism. And then, right there, at the starting station of the gondola, we wrote: „A gift to future generations. Today we are at the beginning of a new era, grateful to those who brought us here, and proud that we have the chance to be a part of this mountain beauty. All to leave a legacy to the new generations of our small town with our actions,” concluded Živanović.

THE

LONG-TERM EFFORT CERTAINLY PAID OFF BECAUSE ZLATIBOR HAS BECOME ONE OF THE MOST IMPORTANT TOURIST DESTINATIONS IN SERBIA

A PLACE TO BELONG Luštica Bay -

Destination of an Unparalleled Lifestyle for a Prolonged Summer on the Adriatic

The scent of the sea brought by the sea salt infused breeze from the Adriatic, the crystal blue sea, open restaurant terraces transforming into galleries of flavor, gatherings, and a capella songs echoing through the air—this is the summer longed for. It’s not just a season; it’s the place to belong. Nestled on a peninsula adorned with olive groves and embraced by the azure Adriatic, Luštica Bay embodies the essence of coastal heritage. A place where summer extends its embrace into September and October, offering a longer and more enchanting escape.

The culinary tapestry of Luštica Bay is a splendid fusion of flavours lining the Marina Village promenade. The journey here is not complete without savouring the taste of Boka Bay’s

delicacies, all while gazing upon the Adriatic horizon—a view as exquisite as the freshly caught local fish or the finest lobster. A collection of restaurants, trattorias, and bars, each embracing their uni-que concepts, yet united by a shared commitment to organic ingredients, harvested

paints a portrait of a serene Adriatic destination. Here, fa-milies and individuals alike can bask in the fullness of life.

A weekend by the coast or the destination for an extended stay on the Adriatic—Luštica Bay is all this and more. A range of rental

EXPERIENCE THE ESSENCE OF BELONGING AT LUŠTICA BAY, WHERE THE ADRIATIC SUMMER NEVER TRULY ENDS

from farms or the sea and brought straight to your table.

A myriad of events designed to delight even the most discerning artistic souls, alongside a lineup of music, culinary experiences, sports, and children’s activities,

apartments, from cozy studios for two to spacious three-bedroom penthouses for family getaways, offers the ideal retreat for a weekend escape or an extended Adriatic adventure.

The lifestyle of this coastal com-

munity, where life unfolds leisurely by the shore, leaves an indelible impression of late summer and early autumn on the Adriatic. Experience the essence of belonging at Luštica Bay, where the Adriatic summer never truly ends.

BEACHES –THE BLUE SEAL OF DESTINATION

For years, Almara Beach has become the very essence of this coastal resort town - a unique shoreline that can be exclusively reached by a boat taxi from Marina Village or by the path through the olive groves of the Luštica Peninsula. Almara beach exudes an air of leisure, blending well-chilled wines and world cuisine flavours to

craft the perfect Luštica Bay beach experience.

Marina Beach, with its Zen Sea Lounge and Garden Sea Lounge, nestles gracefully within Lustica’s landscape. It serves as a stage for light bites, dancing, and sunset cocktails against the backdrop of the azure sea just a stone’s throw away. Crystal clear waters, fine sand, sheltered by the Velja Špilja cave –these are the hallmarks of Ramla Beach, a hidden gem until recently. Preserving a part of its untamed nature, Ramla Beach’s bar, bamboo sunshades, bamboo sunbeds, and sea swings have become the favorite haven for all visitors.

Piazza Centrale –A new place to discover

Piazza Centrale, nestled within the Centrale neighborhood of Luštica Bay, is the new gathering spot for all generations – a nexus that seamlessly intertwines the realms

of gastronomy, music, theater, and sport. The events calendar at this locale spans a spectrum of art performances, concerts, children’s programs, and a weekly local produce market, all complementing the leisurely everyday life in this vibrant hub.An array of cafes,

a national cuisine restaurant, a premium pub, a modern beauty bar, and other shopping outlets converge to craft a fresh rendezvous point for both friends and those who are destined to become friends at Luštica Bay. The Piazza, spanning an impressive area of 1,085 square meters, draws inspiration from the captiva-ting ambiance of Mediterranean squares. It stands as a cove-ted destination, attracting both residents and guests alike. This vibrant hub exudes an energetic atmosphere, fostering a sense of liveliness throughout the year.

LIFE.ELEVATED

Luštica Bay is poised to redefine leisure with its upcoming world-class golfing destination, adding yet another layer of excitement to the experiences it offers. As the anticipation for the first swings at the Driving Range grows, golf enthusiasts are eagerly awaiting the launch of the Golf Academy next year, which promises to be a hub for honing their skills.

Fueled by a global demand for real estate, the elegant golf residences within the exquisite premier collection, featuring 7 villas, 12 townhouses, and 39 apartments, have swiftly been claimed by those seeking luxury living.

The momentum is set for a dynamic surge in rental and tourism options, further elevating the allure of Luštica Bay.

ALMARA BEACH EXUDES AN AIR OF LEISURE, BLENDING WELL-CHILLED WINES AND WORLD CUISINE FLAVORS TO CRAFT THE PERFECT LUŠTICA BAY BEACH EXPERIENCE

For Flying TO BE SUSTAINABLE

Achieving Net-Zero Carbon Emissions by 2050 is aligned with the Paris Agreement

The International Air Transport Association (IATA) 77th Annual General Meeting approved a resolution for the global air transport industry to achieve net-zero carbon emissions by 2050. This commitment will align with the Paris Agreement goal for global warming not to exceed 1.5°C.

“The world’s airlines have taken a momentous decision to ensure that flying is sustainable. The post-

COVID-19 re-connect will be on a clear path towards net zero. That will ensure the freedom of future generations to sustainably explore, learn, trade, build markets, appre-

ciate cultures and connect with people the world over. With the collective efforts of the entire value chain and supportive government policies, aviation will achieve net

GOVERNMENTS MUST BE ACTIVE PARTNERS IN ACHIEVING NET ZERO BY 2050

zero emissions by 2050,” said Willie Walsh, IATA’s Director General.

Achieving net zero emissions will be a huge challenge. The aviation industry must progressively reduce its emissions while accommodating the growing demand of a world that is eager to fly. To be able to serve the needs of the ten billion people expected to fly in 2050, at least 1.8 gigatons of carbon must

be abated in that year. Moreover, the net zero commitment implies that a cumulative total of 21.2 gigatons of carbon will be abated between now and 2050.

A key immediate enabler is the International Civil Aviation Organization’s (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). This will stabilize international emissions at 2019 levels in the short-to-medium term. Support for this was reaffirmed in today’s resolution.

Industry-wide Collective Efforts

The path from stabilizing emissions to emissions reductions will require a collective effort. All industry stakeholders, including governments must each individually take responsibility to address the environmental impact of their policies, products, and activities. And they must work together to deliver sustainable connectivity and ultimately break aviation’s dependence on fossil fuels.

“Achieving sustainable global connectivity cannot be accomplished on the backs of airlines alone. All parts of the aviation industry must work together within a supportive government policy framework to deliver the massive changes that are needed, including an energy transition. That is no different than what we are seeing in other industries. Road transport sustainability efforts, for example, are not being advanced by drivers building electric vehicles. Governments are providing policies and financial incentives for infrastructure providers, manufacturers and car owners to be able to collectively make the changes needed for a sustainable future. The same should apply to aviation,” said Walsh.

The Plan

The strategy is to abate as much CO2 as possible from in-sector solutions such as sustainable aviation fuels, new aircraft technology, more efficient operations and infrastructure, and the development of new zero-emissions energy sources such as electric and hydrogen power. Any emissions that cannot be eliminated at source will be eliminated through out-of-sector options

such as carbon capture and storage and credible offsetting schemes.

“We have a plan. The scale of the industry in 2050 will require the mitigation of 1.8 gigatons of carbon. A potential scenario is that 65% of this will be abated through sustainable aviation fuels. We would expect new propulsion technology, such as hydrogen, to take care of another 13%. And efficiency improvements will account for a further 3%. The remainder could be dealt with through carbon capture and storage (11%) and offsets (8%). The actual split, and the trajectory to get there, will depend on what solutions are the most cost-effective at any particular time. Whatever the ultimate path to net zero will be, it is absolutely true that the only way to get there will be with the value chain and governments playing their role,” said Walsh.

The resolution demands that all industry stakeholders commit to addressing the environmental impact

Technology exists, but production incentives are needed to increase supply and lower costs.

The resolution calls on governments through ICAO to agree a long-term goal equivalent to the industry’s net zero by 2050 commitment. In line with the longstanding approach to managing aviation’s climate change impact, the resolution also called for governments to support CORSIA, coordinate policy measures and avoid a patchwork of regional, national, or local measures.

“Governments must be active partners in achieving net zero by 2050. As with all other successful energy transitions, government policies have set the course and blazed a trail towards success. The costs and investment risks are too high otherwise. The focus must be on reducing carbon. Limiting flying with retrograde and punitive taxes would stifle investment and could limit flying to the wealthy. And we have never seen an environment tax

Electric and/or hydrogen aircraft for the regional market (50-100 seats, 30-90 min flights) become available

2040: SAF production is 229 billion liters (39% of total fuel requirement). Hydrogen aircraft for the short-haul market (100-150 seats, 45-120 min flights) become available.

2045: SAF production is 346 billion liters (54% of total fuel requirement).

2050: SAF production hits 449 billion liters (65% of total fuel requirement).

“SAF will fuel the majority of aviation’s global emissions mitigation in 2050. The recently announced US Grand challenge to increase the supply of SAF to 11 billion liters (3 billion gallons) by 2030 is a great example of the kinds of policies that will drive aviation sustainability. Similarly, the announcements from several big energy suppliers that they intend to produce billions of extra liters of SAF in the near term are welcome. But we cannot tolerate announcements with no follow-up. To be meaningful, fuel suppliers must be accountable for delivering SAF at cost competitive prices.

of their policies, products, and activities with concrete actions and clear timelines, including:

Fuel-producing companies bringing large scale, cost-competitive sustainable aviation fuels (SAF) to the market.

Governments and air navigation service providers (ANSPs) eliminating inefficiencies in air traffic management and airspace infrastructure.

Aircraft and engine manufacturers producing radically more efficient airframe and propulsion technologies; and Airport operators providing the needed infrastructure to supply SAF, at cost, and in a cost-effective manner.

The Role of Governments

The energy transition needed to achieve net zero must be supported by a holistic government policy framework focused on realizing cost-effective solutions. This is particularly true in the area of SAF.

actually fund carbon-reducing activities. Incentives are the proven way forward. They solve the problem, create jobs and grow prosperity,” said Walsh.

Milestones

The combination of measures needed to achieve net zero emissions for aviation by 2050 will evolve over the course of the commitment based on the most cost-efficient technology available at any particular point in time. A base case scenario as follows is the current focus:

2025: With appropriate government policy support, SAF production is expected to reach 7.9 billion liters (2% of total fuel requirement)

2030: SAF production is 23 billion liters (5.2% of total fuel requirement). ANSPs have fully implemented the ICAO Aviation System Block Upgrades and regional programs such as the Single European Sky

2035: SAF production is 91 billion liters (17% of total fuel requirement).

“The way forward for all means of carbon mitigation will be scrutinized. We will match commitments to achievements in reporting that makes it clear how we are progressing. Engaging with travelers, environmental NGOs and governments based on transparent reporting will ensure that our flightpath to net zero is fully understood,” said Walsh.

Ambition

“There will be those who say that we face impossible numbers and technical challenges. Aviation has a history of realizing what was thought to be impossible—and doing so quickly. From the first commercial flight to the first commercial jet was about 35 years. And twenty years on we had the first jumbo jet. Sustainability is the challenge of our generation. And today we are launching a transition that is challenging. But in 30 years it is also within reach of human ingenuity, provided governments and the whole industry work together and hold each other accountable for delivery,” said Walsh.

SUSTAINABILITY IS THE CHALLENGE OF OUR GENERATION

THE UNIQUE TOURIST COMPLEX in Croatia

MK Group and Aleksandar Group’s investment in Croatian tourism worth over 100 million euros

Petram Resort & Residences, a unique hotel-residence complex with integrated premium facilities and services that guarantee a five-star vacation experience, was officially opened in Savudrija, in the presence of a large number of dignitaries from social and public life. Petram Resort & Residences represents MK Group’s investment in Croatian tourism, the value of which is more than 100 million euros, which was realized in partnership with Aleksandar Group.

The complex covers almost 85,000 m2 and contains 55 villas and 197 apartments of modern design, built according to the highest standards of green construction.

In addition to accommodation facilities available for rent or purchase, within the resort guests have access to three restaurants, two swimming pools, wellness and sports facilities, as well as property management with 24hour support. Petram’s trademark is the longest infinity rooftop pool in Europe, 105 meters long.

Nebojša Tatomirov

On behalf of investors MK Group and Aleksandar Group, Mihailo Janković, general director of MK Group, addressed the gathered guests. “This project is a synergy of the rich experience that Aleksandar Group has in construction with over 2 million built square meters, and the expertise of MK Group, which has been operating in the luxury hotel industry for 15 years. We entered this project believing in the potential of Savudri-

direction of the development of Croatian tourism. The Government of the Republic of Croatia will continue to create an encouraging and safe investment environment in tourism,” said Nikolina Brnjac, Minister of Tourism and Sports of the Republic of Croatia.

The official opening of Petram Resort & Residences was attended by Vili Bassanese, the mayor of Umag. “The benefits that Petram

Resort brings – the impact on employment, the use of top indigenous products, the impact on gourmet and sports tourism, are the benefits of the entire community. I am glad that another valuable investment was realized in the area of Umag and I thank everyone who participated in the realization of this project”, said the mayor of Umag.

More than 100 construction companies, over 60 suppliers of various equipment, and more than 1,700 workers participated in the Petram Resort construction project over the past two years. This is MK Group’s second major investment in the area of Savudrija, where the Kempinski Adriatic hotel, which is owned by this company, is already successfully operating.

ja, and Petram has become a symbol of the new, cosmopolitan Istria for us. The development of this destination while preserving its values is one of the promises that MK Group makes in the year of the great jubilee, when we celebrate 40 years of creation,” said Janković.

“Such investments in Croatian tourism contribute to the quality and diversification of the destination, and I believe that they will further enrich the tourist offer of Istria.” I am glad that this premium tourism project respects all the principles of sustainability, because it is the main strategic

Longest Gondola in the World

The Zlatibor Gold Gondola Lift, the longest such panoramic lift in the world, is a new tourist attraction. At nine kilometers long, this state-of-the-art air route connects the center of Zlatibor with the ski center of Tornik via Ribnica Lake, where a stopover station will be located. The gondola lift can transport 1,200 passengers every hour, and the journey takes about 25 minutes.

Photo: © Zlatibor tourism organization