With the significant contribution to the economy and the support of many jobs, the tourism industry in Albania set records in 2023 that have never been achieved before.
The World Travel & Tourism Council’s (WTTC) report has revealed that the Travel & Tourism sector is also ready to break new records this year by receiving levels of 2019 VisaGuide.World reports.
According to the same source, the sector’s total GDP contribution is expected to reach almost L608.5 billion this year, with nearly 10,000 more jobs.
Spending by international visitors is forecast to grow to more than L493 billion, a staggering 55 percent increase in 2019 levels. Similarly, domestic visitor spending is predicted to reach over L107 billion this year.
Albania has burst onto the world stage as a great destination. With the support of the government, Travel & Tourism in Albania is establishing itself as a growing destination in the global tourism landscape.
Albania’s GDP Contribution in 2023 Exceeded Levels of 2019
Based on the latest research of the global tourism body, last year, the sector’s contribution to Albania’s GDP reached almost $565 billion, marking an increase of nearly 37 percent more than the highest level of 2019. The success of Albania’s tourism sector last year also results from the fact that its tourism industry contributed one in four lek to the economy.
During the same period, jobs increased by more than ten percent in 2019, with almost 269,000 jobs supported by Travel & Tourism across the country, representing one in five jobs in Albania.
International visitor spending also followed this trajectory, rising more than 45 percent higher than the 2019 peak to reach L464 billion, with domestic visitor spending surpassing 2019 levels, too, reaching more than L100 BN last year.
314,000 People Are Expected to Be Employed in Albania’s Tourism Sector Until 2034
In addition, WTTC forecasts expect that by 2034, the tourism sector will employ more than 314,000 people across the country, with one in four Albanian residents working in this sector.
In this regard, the global organization expects the sector to increase its annual GDP contribution to $749 billion.
As for the spending of international visitors, they are expected to reach $565 billion, while domestic ones will reach almost $152 billion.
Over the past two decades, the contribution of Albania’s tourism and travel sector to the country’s GDP has steadily increased and reached more than eight percent, creating jobs and generating 38 percent of total exports. Looking back, 2019 was Albania’s best year for tourism, with 6.4 million foreign visitors and $2.3 billion in sector revenue.