About 2.7 billion euros for holidays abroad - BoA: Albanians, 17.4% more spending in 2024
Albanians spent 2.7 billion euros on trips abroad in 2024. The latest data from the Bank of Albania shows that resident travelers (including Albanians and foreigners living in Albania) spent 17.4% or 400 million euros more than in 2023.
This increase shows that more Albanians are choosing to spend their holidays abroad, but they are also spending more money.
During the summer season, specifically in July-August-September, which is the period with the influx of arrivals and departures, expenses reach record figures. During these months alone, Albanian citizens have spent 879 million euros on accommodation, transportation, food, entertainment, shopping and other services on their holidays abroad.
In the first quarter, less was spent, around 512 million euros, while in the second and fourth quarters, 688 million and 612 million euros were spent, respectively.
On the other hand, international trade in services, which refers to the income (export) and expenditure (import) of trade in services between Albania and the rest of the world, closed with a positive balance of around 886 million euros, expanding in annual terms by around 19%. This performance was dictated by the expansion of net travel revenues, reflecting the significant number of foreign travelers in Albania.
According to the Bank of Albania, travel services, which include accommodation, transportation, food, entertainment, etc., have expanded the positive balance to +523 million euros, compared to +376 million euros in the same period last year. In annual terms, income and expenses in this category increased by about 19% and 5%, respectively. The increase in the number of travelers is the determining factor for this performance. At the same time, daily spending and length of stay per traveler are estimated to be increasing.
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