Travel and Tourism is selected as an important sector with great relevance to the Albanian economy and to employment as well as for its positive growth forecasts. The tourism sector in 2019 recorded a direct contribution of ALL 358.3 billion, with an overall contribution of 21.2% of GDP, positioning this sector as one of the main contributors to economic development.
This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation. In 2019, the tourism sector recorded a contribution of 22.2% in the total employment in Albania, creating about 254 300 jobs.
Key Tourism Segments To Develop Businesses
Albania has a strong and vibrant manufacturing sector, which is driven by highly successful enterprises in the textile and footwear industry. Having this great experience and skilled labor force, Albania offers a great potential to diversify its own economy by passing from the textile and footwear industry to the automotive industry.
KEY FACTS ON THE MANUFACTURING SECTOR
- The sector represents about 5.7% of GDP while accounting for about 10.9% total employment.
- From 2017 to 2019, exports in manufacturing increased by 4.5 %;
- 3.5% increase in imports of machineries and equipment in these years;
- Cost-competitive Inward Processing industry primarily driven by the garment and high-quality leather footwear production;
- Significant expertise accumulated over the last 20 years;
- Partnerships with the most popular companies and retailers across Europe;
- The main markets are Italy, Germany, Greece, France and the Netherlands.
Key Manufacturing Segments To Develop Businesses
Albania has a considerable potential of Renewable Energy Sources (RES). RES represent an important energy source available in Albania. The use of such sources for energy production represents a long-term strategy for implementation of three objectives of energy policies of the country, such as: support for the overall economic development; increase of the security of energy supply and protection of environment. Production of energy from renewable energy sources is beneficial to Albania, since it decreases the dependence on energy imports, and provides greater security for energy supply.
Albania has committed to a binding 42% target of energy from renewable sources in gross final energy consumption in 2030, starting with 31.2% in 2009. In 2015, according to the energy balance published by EUROSTAT, Albania achieved a 34.9% share of energy from renewable sources, above the third indicative trajectory of 34.3%. Thanks to the favorable geographic position in the Mediterranean Sea Basin, Albania has significant potential of renewable energy sources such as, water, wind, sun, and biomassand geothermal.
Key Energy Segments To Develop Businesses
Agriculture remains one of the sectors with the greatest potential for development in Albania. Agriculture is the main source of employment and income especially in rural areas of the country. This sector provides about 20% of GDP and 37.4% of total employment.The main objectives in agriculture are the improvement of irrigation and drainage systems, the improvement of the food safety chain and the increase of competitiveness of agricultural products.
The Albanian government aims to transform the brand "Made in Albania" into a certified and trusted brand in the international market.
Key Agriculture Segments To Develop Businesses
The Government of Albania seeks developers and investors to create world-class TEDAs on land areas in Spitalla, Koplik and Kashar. As currently envisioned, future developers will be offered exclusive development and operator rights on these properties, through a long-term lease.
The areas are in close proximity to a skilled labor force, educational institutions, and city centers with sizable populations. Developers and investors will benefit from Albania’s competitive, educated and multi-lingual labor force, as well as recent reforms that have improved the country’s business climate and competitiveness.
These include steps to strengthen the conditions for investment and improve business and transportation linkages, especially in Europe. These initiatives make Albania an exciting venue to work in the region.
The potential of Albania as one of most preferred destinations for ICT-BPO services came into light in 2000 as a developed market and regional power in the Balkan. Albania has transformed into a major destination for ICT-BPO services with its urban culture, availability of resources, infrastructure and attractive Investment Incentives. Tirana is the main ICT-BPO hub of Albania, followed by Durrës, Shkodër and Vlorë. The ICT-BPO sector in Albania has seen steady growth since its inception, increasing employment and reaching industry values that exceeds $130 Million.