In the First Quarter of 2023, Foreigners Spent a Record Amount in Albania
In the first quarter of 2023, foreigners spent a record amount in Albania, according to the assessment of the balance of payments conducted by experts from the Bank of Albania (BSH). The Balkan country witnessed foreign visitors' expenditures reaching €624 million, marking a historic record.
This is reported by Gazeta Si.
This figure nearly doubled the pre-pandemic results of 2019 and was 52% higher than the first quarter of 2022.
According to data from the National Statistical Institute of the Republic of Albania (INSTAT), the number of foreign citizens entering the country during the first three months of 2023 reached 1,070,564 individuals. This number increased by 59.5% compared to the same period in 2022.
Taking into account the Bank of Albania's data on the amounts spent by visitors in Albania and INSTAT's statistics on the number of foreign citizens visiting the country during the reporting period, the average expenditure per person during their stay in Albania amounted to approximately €580.
According to INSTAT, the number of Albanian citizens leaving the country during the first quarter of 2023 stood at 1,394,250 individuals, reflecting a 32.3% increase compared to the same period last year.
Combined data from the Bank of Albania and INSTAT shows that Albanian citizens spend less when traveling abroad, with an average expenditure of €311 per person, nearly half of what foreigners spend in Albania.
Until 2014, the country had a negative net balance of travel, indicating that Albanians traveling abroad spent more than foreigners visiting Albania. However, in recent years, the balance has become positive and continues to grow.
It's worth noting that the Albanian government, aiming to assist refugees from Ukraine who had to leave their homeland due to the escalation of the Russo-Ukrainian war, has implemented liberalization of immigration requirements for Ukrainian passport holders.
According to the resolution of the Council of Ministers of the Republic of Albania, approved on March 18, 2022, Ukrainian citizens now have the right to enter the Balkan country and stay on its territory for up to 1 (one) year without a residence permit.
Furthermore, it should be mentioned that a few years ago, the Albanian and Ukrainian authorities entered into a bilateral agreement to establish a mutual visa-free regime, which contributed to an influx of tourists from Ukraine to Albanian resorts.