The European Union (EU) is the dominant political and economic influence in the Western Balkan (WB) region, but in the view of many of the region’s citizens, EU integration is associated with strict and painful convergence criteria and burdensome reforms as well as the inertia of unfulfilled accession requirements. China’s involvement in the region is focused mainly on much-needed but controversial infrastructure investments; accordingly, it has attracted increasing international attention over the past decade. At the same time, Turkey, the Arab States, and Russia have also shown heightened interest in the region. This paper addresses the important geopolitical question of whether a mutually-beneficial relationship for all participants is possible.

Tourism is the most important export sector in Montenegro, with a share of 22% of the total Gross Domestic Product (GDP) and a strong tendency toward growth. Tourism revenues contribute substantially to both the current account balance and employment. However, the current level of the tourist sector suffers from serious limitations. The switch from the current approach to tourism in Montenegro to a more sustainable tourism is only possible by becoming more innovative. Highlighting the importance of innovation in all its forms has been the motivation for our research. The application of the organizational, marketing, and design innovations of the Montenegrin tourism industry actors was examined in a survey, based on the Community Innovation Survey (CIS), with some necessary adaptations. The sample covered more than 70% of available tourism actors. The authors also analysed the experience from Slovenia, in particular the Slovenian example of the Bank of Tourism Potentials, finding this innovation potentially suitable for transfer to Montenegro. Based on the survey and analysis, the team designed certain recommendations for policy action that can be used as guidelines for policy makers.

The world economic crisis that paralyzed the world economy in 2008 and 2009 had a profound impact on all countries in the world. Due to the interconnectedness of national economies the crisis spread rapidly from its centre in the United States to the world. There were two main transmission channels for the spread of the crisis between countries - international trade and the exchange of private capital between states in the form of foreign direct investment (FDI). This economic downturn has greatly influenced the domestic economic stability of the Western Balkan economies. The Western Balkan countries have shaped their economic policy towards European Union (EU) membership, resulting in a high degree of liberalization in international economic relations accompanied by a commitment to free international capital movement. Since this region has close economic ties with the EU the crisis spread to the region very quickly, manifesting itself in decreasing regional exports to the EU market and a downward trend of FDI inflow to the region. This paper will focus on the impact of the world economic crisis on the Western Balkan economies and especially on their exports and FDI inflow. Our empirical analysis, based on panel data, uses a wider sample of Central and Eastern European Countries (CEEC) which includes the Western Balkans, since we wanted to analyze if the effects of the economic crisis in the Western Balkans are specific or are common to most countries in transition. The analysis shows that Western Balkan exports have suffered due to the crisis, but reveals some interesting results on the different dynamics of export flows which depend on regional trade integration for their destination.

The infrastructure investment could strongly influence the economic growth in the Western Balkans countries and contribute to improved regional cooperation and reconciliation and to faster integration into the EU. However, it is essential that...

This paper studies the dynamics and trends in the intricate interplay of factors shaping the environmental landscape within the Balkan region and several European countries in a context of a highly competitive and global economic environment. The aim of this study is to analyse the dynamic relationships among expenditure on green technologies, expansion of green territories, waste management practices, energy efficiency, and activation of tourism. A comparative analysis of the green territories coefficient was conducted for Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Central Europe and the Baltics, Georgia, the Republic of North Macedonia, Moldova, Montenegro, Romania, Serbia, and Ukraine. It was established that the leaders are Bulgaria and Albania, as the coefficient of green territories expansion for these countries, like for the majority analyzed, does not undergo significant growth. However, the difference between the coefficient of green territory expansion and the growth rates of the total emissions of pollutants increases, indicating the implementation of "green technologies" in production by these countries, resulting in a reduction in emissions of various types of pollutants. Through a comprehensive analysis of regional data and case studies, the authors explore the causal relations between terrestrial and marine protected areas, nitrous oxide emissions, methane emissions, total greenhouse gas emissions, CO2 emissions, forest area, GDP per capita. The authors' contribution to scientific knowledge lies in the formulation of the green territory expansion coefficient, defined as the difference between green territories and the incremental growth in emissions. The study produces a definition and discusses benefits such as enhanced understanding of environmental dynamics and trends and potential for fostering sustainable practices. However, drawbacks may include the complexity of integrating various factors and the challenges associated with implementation and coordination across diverse regions. Practical recommendations for policymakers and other stakeholders committed to fostering resilient and sustainable regional ecosystems in the context of global environmental changes and the growth of tourism are proposed.