Foreign tourists contributed 15% of Albania’s GDP last year

Foreign tourists’ expenditures in Albania amounted to about 15% of Gross Domestic Product last year.

According to Instat’s calculations, based on Bank of Albania data, tourism has provided the highest historical contribution to the Albanian economy last year.

Tourists’ expenditures on Domestic Production have increased by 4.5 percentage points over the last five years.

Meanwhile, the expenditures of Albanians abroad are more volatile.

While culminating in 14% of GDP for 2014, in the last three years they have fluctuated by 10% and 11%.

Instat estimates that Albanians spent around ALL 855 billion on trips abroad over the last five years, which calculated at today’s rate, amounts at about 6.8 billion euros.

The net contribution of tourism to Albania’s economic growth, measured as the difference between incoming and outgoing expenses, amounted to 3.9% last year, increasing for the fourth year in a row.

Figures show clearly that tourism is a growing sector within the Albanian economy, while the Albanian government is trying to promote the establishment of elite housing structures through fiscal incentives.

According to Instat, by the end of 2016, Albania had 1242 accommodation facilities, with a total capacity of about 18,000 rooms and about 41,000 beds.

SCAN

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