In 2023, Albania had the highest promotion in the international media for tourism. 

The effect achieved is a historical record in the number of visitors. The impact of this boom was clearly seen in the growth of supporting industries and was sealed by the positive current account balance. 

For international institutions in Albania, as a link between potential investors and our country, only a good tourist image is not enough. 

For Italian, German and Dutch businesses there is a need for additional steps in order to improve the business climate. However, this good moment for tourism is an element that gives Albania points in the eyes of everyone. 
 
Albania was visited in 2023 by over 10 million foreigners, turning it into the best historical year of the tourism sector. 

The impact of this increase is clearly seen in the current account balance, where according to the Bank of Albania, the expenses of foreigners in Albania reached a record of 3.2 billion euros in the 9th month, with an increase of 47% compared to the same period a year ago and double that of 2019. 

The impact of tourism went beyond the sector, extending this effect to supporting industries, which have also been booming, ranging from rental cars to the marine industry. 

Italy remains the main trading partner of Albania with 29.5% of trade exchanges according to the Foreign Trade statistics of October 2023. The geographical proximity has also made the Italian enterprises that have invested in Albania take the first place and the sectors are more comprehensive. 

Francesca Mondello, Director of ICE Tirana, an agency with the mission of facilitating the internationalization of Italian companies in Albanian distribution channels, estimates that the interest in Albania continues to remain high and the good tourist performance has awakened curiosity about our country throughout Europe. But what are Italian investors most interested in when they come to ICE Tirana? 

"Requests from Italian enterprises are mainly related to the analysis of the potential of specific sectors, promotion, business climate, research and verification of the reliability of local partner companies and local legislation. 

Attention is paid to infrastructural development projects in the transport, energy, agriculture, digitization sectors", she asserts. 

Regarding the sectors where investments have been stable year after year, Mrs. Mondello underlines that they range from mechanics, chemistry, pharmaceuticals and the medical sector, agri-food, textile and clothing, construction, engineering services, infrastructure and contract services to tourism and training. 

The global developments, but also the internal ones of Albania, have changed the projects or potential investments that are oriented to the country. Bledar Mankollari, Executive Director of the German Chamber of Commerce and Industry (DIHA), claims that developments in the labor market have made Albania less attractive in projects that require a large workforce. 

On the other hand, technological developments have given rise to professions related to information technology, and German companies have begun to expand this sector in Albania as well. 

"In terms of access to the labor market, we can say that Albania is no longer as attractive as it was in the last 30 years for textile and footwear companies. 

In the last two years, we have mainly had requests from companies for software development, which want to settle in Albania and work for clients in Germany," he affirms. 

Regarding other sectors that present potential, Mr. Mankollari emphasizes that infrastructure, energy and tourism remain strong points for investment in Albania. 

As for businesses from the Netherlands, the embassy confirms that interest continues to remain in some sectors. 

"The figures on the trade between Albania and the Netherlands have had a continuous increase during the last years. The official annual data for 2023 will be available soon, but interest remains high in sectors such as agriculture, dairy, energy and infrastructure", the Embassy of the Netherlands underlines. 

(Source: Monitor)