Albanians Spent Euro 500 mln Abroad During H1

TIRANA, September 15

Travel trends show that Albanians spent abroad Euro 500 million during the first half of 2016. This was confirmed by the Bank of Albania (BoA). Based on the data provided by this institution, expenses of Albanian citizens abroad increased by 5.2 percent compared to the same period of the previous year. A significant increase was noticed during the second quarter when Albanians spent abroad some Euro 284 million, a figure that surpassed by Euro 28 million the expenses that they made during the second quarter of 2016.

Besides business travel, tourism is one of the factors that had an impact on the aforementioned figures. Travel expenses are turning into an important indicator of currency flow within Albania’s current account. Yet, the net balance of income from travel stays positive. This means that foreigners, who visit the country spend more compared to Albanians that travel abroad. During the second quarter of 2016, the travel net balance was positive.

News Source/Photo Credit: Scan TV