Albania Looks Set to Lose Over €900 Million from Missing Tourists

Albania Looks Set to Lose Over €900 Million from Missing Tourists

TIRANA, December 11

Albania’s tourism-dependent economy might lose about Euro 1 billion due to the international travel crisis. Based on the recent data issued by the Bank of Albania (BoA), the revenue for the travel and tourism sector during January-September 2020 was Euro 732 million, or Euro 904 million less compared to the same period in 2019. On their part, Albanians spend Euro 507 million on international travel during January-September, or Euro 717 million less compared to 2019. Overall, the balance of payments in the tourism and travel sector during the Q1-Q3 remained positive, even though it declined by 46 percent compared to 2019.
The tourism revenue from international visitors was higher during the third quarter of the year, which is the peak season in the industry. Tourism revenue in Q3 totaled Euro 323 million, while in the same period of 2019, the sector revenue hit the record of Euro 782 million.

Source: Monitor


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