Locally, Budva is referred to as the Montenegrin Kuwait, because of its number of millionaires compared to its small population. Following a real estate boom in 2000s, many native families sold their properties in and around Budva to foreign buyers, mostly Russians, Austrians and Italians. Once barren and undeveloped fields of steep hillsides are being sold for hundreds euros per square meter. This resulted in a once poor fisherman's village to become a town with the most millionaires per capita in Europe, about 500 for the population of around 22,000 in whole municipality. Many of the newly rich re-invested their money in real-estate, buying flats in central Podgorica and Belgrade, which further raised the prices of living space in Podgorica.
Budva has the distinction of being the smallest town to host a concert of The Rolling Stones. The group held a concert on 9 July 2007, at Jaz Beach, as a part of their A Bigger Bang Tour. The show saw an attendance of some 35,000 spectators, twice the population of Budva town itself.
Madonna staged a show at the same venue on 25 September 2008, while Lenny Kravitz and Armand Van Helden performed at Jaz beach during the "Live Fest" in August 2008, along with Goran Bregović, Dino Merlin and Zdravko Čolić.
Budva was host of Class 1 Powerboat Grand prix in May 2008. It will take place in this city for the next 4 years.
Budva, together with nearby Kotor, was host to the Federation of European Carnival Cities (FECC) World Carnival City Congress in May 2009.
Photo: Kruzne panorame
View More »