Overview
The tourism sector offers export and investment opportunities and has significant potential for future development. The country’s geographic location, mild climate, and historical and religious sites provide favorable conditions for the development of the tourism industry. North Macedonia offers a full range of accommodations in 164 licensed hotels (down from 263 licensed hotels in 2023 as hotels renew their licenses under recent changes made to the Law on Catering and Tourism). North Macedonia has many tourist attractions, including three natural lakes (Lake Ohrid, Lake Prespa, and Lake Dojran), and mountains suitable for camping, hiking, and winter sports. Tourist arrivals rose by 7.8 percent in 2024 compared to 2023, of which foreign tourist arrivals increased by 13.1 percent, while domestics tourist numbers decreased slightly by 1 percent. The total number of tourists in North Macedonia in 2024 was 1, 260,425 according to the State Statistical Office. The most popular tourist destination, which accounts for almost 80 percent of North Macedonia’s tourist revenues, is Lake Ohrid. Ohrid is a UNESCO historical and cultural world heritage site. Tourists primarily come from Turkey, Greece, Serbia, Bulgaria, the Netherlands, Albania, and Germany.
U.S. franchise hotels Holiday Inn, Best Western, Marriott, and Hilton are present in Skopje.
Opportunities
Since there has been very limited investment in tourism, legacy hotels need repair and upgrading. There has been an increase in the construction of smaller hotels (more suitable to the market in North Macedonia), primarily in Skopje and in areas around Lake Ohrid, but investments in training and management for hotel and restaurant employees could greatly increase guest satisfaction. There are no golf courses in North Macedonia, nor do the three largest lakes, Ohrid, Prespa, and Dojran, have any significant watersport centers.
To attract visitors, the value-added tax (VAT) on tourism has been reduced from 18 percent to 5 percent. Investors in priority projects receive special benefits, such as zero percent personal income tax and zero percent VAT for the first 10 years of operation. Investments in hotels, eco-tourism, adventure travel, wellness, and wine tourism are particularly promising, as the country positions itself as an emerging European destination with strong potential for sustainable growth.