Travel agencies in Montenegro started developing in the first half of the 20th century, since when their role as intermediaries in the tourism market has been of exceptional significance for tourism development in the destination. They underwent various phases of development from travel agencies working on someone else's behalf and for someone else's account, through travel agencies which worked on their own behalf and for someone else's account to travel agencies working on their own behalf and for their own account. They underwent a developmental phase from classical intermediaries to travel agencies of entrepreneurial character, as well as from state-owned travel agencies to privately owned travel agencies. Transitional processes through which the travel agencies were going were not simple and they often slowed down their growth and development. So, at some point in time they were forced to relocate from the downtown districts and main business streets, to suffer various financial pressures and to merge under various forms of economic pressures with other economic organizations or to perish. However, they have been and remained one of the main tourism policy makers in Montenegro, with the intention to increase their significance in the years to come. Because of that, it is important to define the basic performances of the travel agencies in Montenegro.