With the onset of the war in Ukraine in 2022, Serbia became a sought-after destination for Russians seeking a fresh start. Many relocated, starting businesses and integrating into the local community. The influx of Russian companies, particularly in technology, tourism and hospitality, revitalized the economy and created new jobs. However, by 2024, the situation had shifted significantly.
According to Bojan Stanić from the Serbian Chamber of Commerce, 1,919 companies with majority Russian capital were established from January 2022 to now, but 91 of those have since closed. “The number of closures increased in 2024, with 66 companies shutting down compared to 25 in 2023. Most were in IT services, trade, and consulting,” Stanić noted. While an accurate estimate of the Russians who entered Serbia is lacking, it is believed that around 200,000 moved to the country.
Following the outbreak of the war, Serbia became an attractive option for Russians seeking security and stability. The Serbian government aimed to draw foreign investors by offering favorable conditions for company registration, facilitating Russian entrepreneurs’ entry into the market. This situation raises important questions about the future of Russian communities in Serbia. Will the trend of closures continue? How will relationships between Russians and the local population evolve? While these questions remain unanswered, one thing is clear: the influence of the Russian community in Serbia will continue to be a significant topic in the coming years.
