Already a popular tourist resort, Tivat is set to become a nautical tourism centre for the southern Adriatic. The inlets near Prevlaka, as well as the localities of Župa and Kalimanj, provide great conditions for the construction of marinas and yachting clubs. Canadian businessman Peter Munk bought a naval shipyard in Tivat, intending to transform it into a luxury vacation resort and a marina for luxury yachts. In 1971 Tivat Airport acquired a modern runway and is now a significant airport for foreign air traffic. It served 573,914 passengers in 2007. Although it is the youngest town in the Boka region, Tivat has many attractive destinations. Renaissance Summer House Buca in the centre of city, Ostrvo Cvijeća (Flowers’ Island) with sacred monuments, Gornja Lastva, the old nucleus at an altitude of 300 m (984.25 ft), the magnificent sandy beach at Plavi Horizonti and the Sveti Marko Island with ex-Club Med cottages are the most visited. In the city itself there is the natural port Kalimanj. There is also a choice of cultural events, such as "Bocce Olympiad" and "Summer Fest". Tivat boasts a botanic garden planted with gifts from Bokan sailors who brought back a wide variety of exotic tree species and ornamental plants from their voyages.Now, in the center of the town, there is a port for yachts and mega yachts called Porto Montenegro. It is very popular and beautiful place to visit, though some hotels and apartments there are still in the process of construction.