Despite the forecasts of international financial institutions that the crisis caused by COVID-19 would force migrants not to send money home, in Albania the opposite has happened. The money that emigrants have sent to their families in Albania is the highest of a decade. Remittances have reached 2008 levels.

The latest data of the Bank of Albania show that in the period July-September, remittances were 197 million euros, with an increase of 40% compared to the previous quarter and 6% in the same quarter of 2019.

Experts explain this phenomenon resonates with the solidarity and compassion that immigrants have for families, sacrificing themselves. In the spring, during quarantine, remittances fell to historic levels.

Remittances constitute the largest inflow into the Albanian economy, leaving behind foreign direct investment and exports. They have been the most stable and secure financial flow in the Albanian economy for many years.

Remittances are a source of income for about 26% of Albanian households. The number of cross-border migrants who transfer money home to their families is about 1.19 million individuals, of which 90% are in Europe. Permanent migrants make up 80% of the total (this figure is above the regional average).

According to United Nations data, one in nine people worldwide rely on money that migrant workers send home.