The coronavirus (Covid-19) crisis seems to have resulted in a second earthquake for the tourism sector, as the lack of foreign tourists has cost the country millions of Euro in losses.

Euro 443 million are the losses estimated during the second quarter of this year, reflecting the severe consequences that the sector has suffered due to the pandemic, according to data published by the Bank of Albania.

During the second quarter period foreign visitors spent a total of Euro 63 million, down from Euro 506 million compared to the same period a year ago.

On the other hand, money spent by Albanians abroad have also decreased significantly due to the inability to take vacations because of the restriction of movement.

According to the central bank data, Albanian visitors have spent abroad about Euro 65 million in April-June, down from Euro 425 million estimated in the same period of 2019.

Closing of borders and cancellations of reservations have put the tourism industry in great difficulties, making it rely entirely on domestic tourism that despite its weight cannot compensate for the losses.

With this trend, the losses by the end of the year are expected to be higher, approaching the scenario of the World Travel and Tourism Council, which estimates that the country could lose about 3.5 million foreign visitors and about Euro 1.1 billion from missing expenses from tourism.

According to the country's statistical office, the number of foreign nationals who visited Albania in the first seven months of 2020 fell 65% year-on-year to 1.17 million.

Foreign nationals who visited Albania for the purpose of recreation in January-July totalled 1.07 million, down by 66%, INSTAT has said.

The largest number of foreign visitors came from Kosovo, North Macedonia, Montenegro and Italy. Visitors from Spain decreased the most on an annual comparison basis in the first seven months of the year, by 89%.

In July alone, Albania was visited by 387,716 foreign nationals, down 67% year-on-year. Of the total, 368,702 came for recreational purposes, also down by 67% compared to July 2019.

Albania confirmed its first two coronavirus cases in early March. Later that month, the country closed its land borders and suspended all commercial flights in an effort to contain the coronavirus outbreak.

In 2019, total number of foreign visitors increased by 8.1% year-on-year to 6.41 million.