How did tourism return to a growth trajectory? The Euro helped Albanians vacation abroad
Global tourism has returned strongly to an upward trajectory, fully recovering from the effects of the pandemic. The increase in international demand has brought a significant increase in prices, which is felt not only in Albania, but also in the most popular destinations such as Turkey where packages increased by about 30%, as well as in Italy, France or Greece.
Eurostat data shows that package holidays for EU citizens increased by an average of 7.3% in July, especially for trips within their own countries. In Albania, however, this trend has been more muted: prices for package holidays, both domestic and international, increased by only 1.4%. A key factor in this change was the continued depreciation of the euro in the domestic foreign exchange market, making holidays abroad for Albanians 6% cheaper in real terms.
The combination of this strengthening of the currency and the increase in wages has pushed a large number of Albanians to choose tourist packages outside Albania. This phenomenon is also related to the noticeable decline in the frequency of domestic beaches by Albanian vacationers.
According to INSTAT, in July alone, 782 thousand Albanian citizens left the territory of Albania, marking a 10% increase compared to the same period last year.
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