Record tourism in Albania: 874 million euros in the first quarter!

Record tourism in Albania: 874 million euros in the first quarter!

Tourism has proven to be a crucial driver of the Albanian economy. In the first quarter of 2024, revenue from the tourism sector reached a new record. How RTSH reported that foreign tourists spent an impressive 874.36 million euros in Albania. This represents an increase of approximately 11% compared to the same quarter last year and is even 40% higher than revenue for the same period in 2023.

Albania has not only positioned itself as a popular destination for ordinary travelers, but has also significantly increased its lead in attracting elite tourists. This travel group is characterized by the fact that they generally spend more money and take longer stays. The positive impact on the economy is evident, which is also reflected in the net balance of tourism.

Positive impact on the economy

The positive net balance of tourism is important for the Albanian economy, especially since the difference between spending by foreign tourists and spending by Albanians abroad is 295.32 million euros. This shows that Albania generates more revenue in the tourism sector than it spends on foreign travel. This development is also an indicator of the increased interest in Albania as a travel destination.

Another aspect of this positive development is the increase in inbound traffic and the strengthening of the tourism sector outside the summer season. These trends are crucial because they help reduce the economy's reliance on seasonal revenues.

Long development history

The development of the Albanian tourism sector shows a remarkable transformation over several years. Loud Country data In 1995 there was income from tourism of only 51.29 million euros, which corresponded to around 2.9% of the gross national product. This dependency has increased dramatically by 2022. Before the corona pandemic in 2019, sales were 2.20 billion euros, which corresponded to 15.77% of the gross national product.

The drop in revenue during the 2020 pandemic to 1.09 billion euros represents a 50% decrease compared to 2019. The average spending per tourist in 2022 was about 395 euros, underlining the importance of tourists to the economy.

Albania is on the right track to further strengthen the tourism sector and establish itself as an attractive travel destination in Southern Europe. A positive signal for the future is the continued influx of elite tourists, which is crucial for the country's economy.