Tourexpi
The “Tourism Investments and Economic Development
in Europe” conference, jointly organized with Ministry of Tourism and
Environment of Albania, was held within the framework of the UN Tourism
Regional Commission for Europe. High-level delegates included investors from
the hospitality, aviation and real estate industries, alongside private
sector stakeholders and various heads of various international organizations.
Participants discussed and explored avenues how to
revitalize Europe’s tourism sector through strategic investments, with a focus
on long-term resilience and growth in line with the wider Agenda 2030 and
Sustainable Development Goals.
“Tourism Doing Business in Albania”
During the conference, UN Tourism launched the
latest in its series of “Tourism Doing Business” guidelines, with a new
publication focused on Albania. The guidelines provide potential investors with
an overview of Albania’s business landscape, its economic resilience and growth
potential.
In 2023 Albania was ranked 4th globally for the
largest percentage increase in international tourist arrivals, recording growth
of 56% on 2019.
Albania welcomed 7.5 million international arrivals
in 2022, and 10.1 million in 2023.
The strong robust rebound in tourism contributed to
economic growth of nearly 5% growth in 2022. As of 2023, the GDP at current
prices reached USD 23 billion compared to USD 12.3 billion in 2012.
International tourism in Albania constitutes 46% of
total exports and 65% of exports in the services sector.
UN Tourism Secretary-General Zurab Pololikashvili
says: “Albania presents multifaceted investment opportunities within its
tourism sector. With its strategic geographic location, developing
infrastructure, and a government dedicated to enhancing foreign direct
investment, Albania emerges as an attractive destination for investors. These
factors have been instrumental in driving Albania's growth and ongoing
development”.
Natalia Bayona, UN Tourism Executive Director says:
“The tourism sector in Albania stands as a dynamic and promising landscape,
offering a compelling blend of natural beauty, cultural richness, and strategic
initiatives shaping its trajectory towards sustainable growth and success. With
a surge in greenfield FDI announcements totaling USD 135 million within the
tourism cluster, Albania solidifies its position as an attractive investment
destination, heralding a promising future ahead”.
Investments and tourism employment growing
The guidelines offer a comprehensive overview of
the investment landscape in Albania. Key takeaways include:
Over the past five years, Albania has consistently
attracted foreign direct investment (FDI) at levels surpassing the preceding
ten-year average OF EUR 1,004 million. In 2022, the country received EUR 1.372
billion, and between January and September 2023, it received around EUR 1.089
billion.
As of 2023, Albania registered more than 154
startups in different sectors including financial services, tourism,
technology, and innovation.
The ‘Startup Law’ supports the creation and
development of high-growth potential startups in the technology and innovation
sector.
Value and Investments strategy
Between 2018 and 2023, four greenfield projects
were announced in the tourism cluster for a total of USD 135 million (according
to fDi Intelligence Financial Times). Through that Strategic Investment Law,
the country has promoted around 21 strategic investment projects related to
tourism between 2016 and 2023. These projects, which have either been completed
or initiated implementation, represent a total investment of EUR 3.09 billion,
generating around 16,900 new jobs.
Image
Credit: © UN Tourism
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