The Albanian economy has lost around €100 million in the first quarter of the year due to a lack of foreign tourists.

According to data from the Bank of Albania, revenue derived from foreigners added up to €240 million, as opposed to €346 million from last year.

But on the other hand, border closures seem to have reduced the expenditures of Albanian citizens abroad.

The Albanian central bank reports that from January to March, Albanians spent €138 million outside the country, or €115 million less.

Meanwhile, at the beginning of the pandemic, Albanians had spent €253 million abroad.

Some of the factors that led to this shrinking in the first semester are the pandemic, restrictions imposed at EU borders on movements such as COVID-19 tests or quarantine.

Last year, the Albanian economy lost around €1.1 billion, however, the Albanian government has high expectations for this year’s tourism season.

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