Tourism receives financial "oxygen"/ Lending sets historic record in February
The tourism sector is experiencing a significant increase in lending, as operators and investors are preparing for a summer season that is expected to be even stronger than a year ago.
According to the latest data, it appears that lending to the tourism sector has reached an undisputed record in February of this year. The figures speak of around 1.3 billion lek or around 12 million euros of new loans in the second month of the year, an increase of 63%, compared to the same period last year.
The weight of the new credit for "Accommodation and food service" to the total, as of February 2025, is estimated at 7.2%. Meanwhile, this value in February 2024 was recorded at 3.6%.
We emphasize that new tourism revenue in February of this year records the highest historical record, at least since 2017.
Banks have significantly increased their lending to trade and tourism throughout 2024, reflecting an increased interest in the development of this sector. It is worth noting that this growth is closely linked to overall economic development and the increase in demand for tourism services.
According to the data, new lending for this sector was estimated at 12.8 billion lek last year, or about 26% higher than in 2023, when it was estimated at 10.2 billion lek, while the loan portfolio for the accommodation and food service sector reached the value of 44 billion lek at the end of 2024, or about 445 million euros.
Experts estimate that this growth is a positive signal not only for the sector, but for the entire economy, as tourism has become one of the main engines of growth, with a direct and indirect impact on employment and consumption.
However, challenges remain, including the lack of a skilled workforce and the need for higher standards in the provision of tourism services.
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