TIRANA, May 17 The European Commission has slashed Albania’s GDP forecast for 2022 to 2.7 percent from 3.7 percent predicted earlier, citing the impact of Russia’s invasion of Ukraine. The European Commission lowered its growth estimate for Albania for 2022 by a full percentage point. The outlook highlights that the normalization of growth was dampened...
TIRANA, June 23 An ancient tomb thought to date back to the third century BC, has been unearthed at the ancient cemetery of Amantia Archeological Park by the specialists from the National Institute of Historical Heritage. Archeologists say that this one of the rare tombs that have preserved all the architectonic elements of the vaulted...
TIRANA, January 26 Any official or private campaign for tourism in 2020 in Albania was crushed by the coronavirus pandemic. The recent data published by the Albanian Institute of Statistics (INSAT) show how big the impact of the virus on international arrivals was. Even though travel restrictions were eased during summer and Albania never applied...
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...
TIRANA, March 17 COVID-19 also referred to as the “novel coronavirus,” has already had a major local impact among citizens and businesses in Albania. The American Chamber of Commerce in Albania (AmCham) urged the Government of Albania to develop an emergency plan in support of the business community to prevent a deep economic crisis from...
TIRANA, February 18 The new country strategy on Albania 2020-2025 adopted by the European Bank for Reconstruction and Development (EBRD) will focus on speeding up convergence to the European Union (EU) income levels. According to EBRD, Albania must increase productivity and shift its growth model from consumption to investments and exports. These are crucial measures...
TIRANA, December 13 Albania’s tourism industry surged to Euro 782 million in the third quarter (Q3) of 2019, the Bank of Albania (BoA) confirmed on its balance of payments report. Further on, the statistics confirm a record-high in revenues for the January-September period at Euro 1.64 billion. The number of tourists visiting Albania increased significantly...
TIRANA, June 7 “The European Union is going to help Albania to map every single hectare of the country with a new map of property registration. This will facilitate legal certainty for property and foreign investment. If you talk to the business investors, they are still worried about investing in Albania because of this long-awaited...
TIRANA, May 15 Boboshtica (or Boboshtice in Albanian) is a village in Korca county, in the south-east of Albania. Boboshtica is known for its amazing nature with fresh air and water, diverse bushy plants, centuries-old fruit trees, oak and coniferous trees, and many medicinal plants. Small houses made of stone with particular architecture, churches, bridges,...
TIRANA, March 29 The tourism sector contributed to the Albanian economy a gross total of Euro1.8 billion in 2018. Official data from the Bank of Albania (BoA) confirm that tourism was among the most dynamic sector of the economy and it’s growing at a steady pace. Moreover, the year-over-year comparison showed a growth of nine...