Tourism revenue continues steady growth in Albania
Tourism revenues in Albania are in a steady upward trend, reaching a record €1.95 billion in the first half of the year, a 25% increase compared to the same period last year.
Why is this significant
This growth underscores the increasing role of tourism in Albania’s economy, but also lays to rest the accusations promoted by the opposition and several experts during the summer according to which the 2024 had been a failure.
Context
According to data from the Bank of Albania, tourism revenues covered more than 40% of the trade deficit in goods. The influx of foreign tourists continues to rise, with 4.5 million visitors entering the country in the first six months of 2024, a 34% increase compared to the same period in 2023, as per INSTAT figures. Official statistics confirm that Albania has maintained a positive travel balance for years, with more foreign currency brought into the country by tourists than spent by Albanian travelers abroad. The Bank of Albania reports that the travel balance for the first half of 2024 was €740 million, reflecting a 28% improvement from the previous year.
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