Tourism Investments and Economic Development in Europe

The “Tourism Investments and Economic Development in Europe” conference, jointly organized with the 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 hospitality, aviation, and real estate industries, alongside private sector stakeholders and heads of various international organizations.

“Tourism Doing Business in Albania”

During the conference, UN Tourism launched the latest in its series of “Tourism Doing Business” guidelines, focusing on Albania. The guidelines provide potential investors with an overview of Albania’s business landscape, economic resilience, and growth potential.

• Albania was ranked 4th globally for the largest percentage increase in international tourist arrivals in 2023.
• Albania welcomed 10.1 million international arrivals in 2023, up from 7.5 million in 2022.
• The strong rebound in tourism contributed to nearly 5% economic growth in 2022.
• International tourism constitutes 46% of total exports and 65% of service sector exports.

Investment and Economic Growth

Albania presents multifaceted investment opportunities within its tourism sector, thanks to its strategic geographic location, developing infrastructure, and government incentives for foreign direct investment. These factors have driven Albania’s ongoing growth and development.

Investments and Tourism Employment Growth

Over the past five years, Albania has consistently attracted foreign direct investment (FDI) surpassing EUR 1,004 million annually. In 2022, the country received EUR 1.372 billion, and between January and September 2023, it received EUR 1.089 billion.

• More than 154 startups have been registered in various sectors, including financial services, tourism, technology, and innovation.
• The ‘Startup Law’ supports high-growth potential startups in technology and innovation.
• Four greenfield projects were announced between 2018 and 2023, totaling USD 135 million.
• 21 strategic investment projects related to tourism between 2016 and 2023 have generated around 16,900 new jobs.