Italy is "calling" its pensioners back - Albania risks losing out on Rome's 4% tax plan
Italy aims to attract over 310,000 pensioners who currently receive their pensions abroad, with payments amounting to around 1.6 billion euros a year. Rome's goal is clear: to revitalize inland areas that are being depopulated.
With a flat tax of just 4%, Rome aims to convince thousands of Italian pensioners to abandon their places of residence and return to small Italian municipalities that are emptying of their population. But what is a development strategy for Italy could turn into a significant economic loss for countries like Albania.
For years, Albania has become one of the favorite destinations for Italian retirees, thanks to the low cost of living, climate, geographical proximity and affordable healthcare and services. These residents are not seasonal tourists: they bring a stable monthly income, pay rent, consume every day and inject foreign currency into the local economy.
With the new Italian plan, part of this flow risks being reversed. The departure of pensioners means less consumption throughout the year, less demand for services and a silent blow to urban and coastal areas that have adapted in recent years to this category of foreign residents. In Albania, it turns out that there are about 3 thousand Italian pensioners who withdraw over 130 million euros per year; money that is spent mainly on buying or renting apartments, in Albanian supermarkets and restaurants, as well as on cars, telephones and various goods.
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