Official data from the INSTAT Institute of Statistics indicate that Albania’s economy grew by around 4% in the first half of 2024, with revenues amounting to 1.9 billion euros.
Growth has been particularly prominent in the months of April, May and June thanks to the good performance of tourism sector, construction, trade and hospitality industry.
During the same period, there was also an increase in consumption, amounting to 6%.
Construction and tourism are the two sectors that have had the greatest impact on economic growth. In the first half of 2024, construction activity increased by 10.10% compared to the same period last year, while tourism recorded an increase of 6.48%.
Therefore, the European Bank for Reconstruction and Development (EBRD) has revised its forecasts for the country’s economic performance, indicating a 3.5% increase in GDP this year and 3.7% in 2025, mainly driven by tourism sector.
Albania ranks third among the Western Balkan countries in terms of economic performance, after Serbia and Montenegro, where the expected growth should reach 3.8%.
