Natalia Bayona,
Executive Director, UN Tourism

“Tourism Doing Business – Investing in Albania” offers a compelling exploration of Albania's vibrant business landscape, providing a comprehensive overview of its economic resilience and growth potential.  

ECONOMIC OUTLOOK 

The journey commences with an insightful dive into the global economic context for 2024, navigating through both challenges and opportunities before zooming in on Albania's economic trajectory. Overcoming adversities such as the 2019 earthquake and the impacts of the COVID-19 pandemic, Albania emerges with a remarkable economic resurgence, underscored by its vibrant private sector and government-led reforms. This initial chapter lays a solid foundation for understanding Albania's position as a promising investment hub in Southeast Europe.  

FDI PERFORMANCE 

Continuing the narrative, the subsequent chapter on investment outlook and the integral tourism investment collectively paint a vivid picture of the nation's robust economic landscape and its strategic allure for foreign investors. Despite a global 12% dip in Foreign Direct Investment (FDI) flows in 2022, Albania shines, consistently surpassing its 10-year FDI average and attracting significant investments in sectors such as electricity, mining, and real estate. Notable post-pandemic growth areas include health, information, education, and real estate, with Switzerland, the Netherlands, and Italy emerging as key investors.  

VALUE PROPOSITION 

Simultaneously, the specific focus on tourism investment unveils Albania's exponential growth in tourism, surpassing pre-pandemic levels, fostering associated industries, and attracting global hotel brands. With proactive measures, including 21 tourism projects totaling EUR 3,090 million, Albania positions itself as a forward-thinking destination. Although fewer greenfield projects in tourism have landed compared to neighboring countries, Albania's strategic initiatives, facilitated by Albanian Investment Development Agency (AIDA), aim to transform it into a year-round tourism hotspot, aligning with sustainable development goals. 

GREEN INVESTMENTS OUTLOOK 

Against the backdrop of Albania's appeal as 'Europe's last unturned stone,' highlighted by its diverse experiences and noteworthy potential, the chapter stresses the proactive approach of the Ministry of Tourism and Environment, emphasizing sustainability and community-driven tourism. This backdrop makes Albania's economic landscape increasingly enticing to investors, challenging norms and paving the way for sustainable development in the Balkans.  

COMPETITIVE OUTLOOK 

The analysis of Albania's competitiveness in the tourism sector reinforces its attractiveness, establishing the nation as an enticing destination for both tourists and investors. In 2023, amid the dynamic global tourism landscape, Albania has notched a significant achievement, securing the 4th position worldwide for the highest percentage change in international tourist arrivals compared to 2019. Boasting an impressive growth rate exceeding 53%, Albania stands prominently and underscores its emergence as a formidable player in the region of Europe and Eurasia.  

The last chapter of the report highlights sustainable tourism practices, regulatory frameworks, and comprehensive sector development, offering a comprehensive overview of Albania's tourism sector, spotlighting its substantial contribution to the country's GDP and noteworthy accomplishments on the global stage. 

With over 10.1 million visitors in 2023 and a promising future ahead, Albania's tourism sector 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.