“It was exactly on August 8, 1991, when 32 years ago overcrowded ships carrying Albanians in search of hope crossed the sea to land on the shores of Italy. But today, 32 years later, the ships have been replaced by ferries, sailing in the opposite direction. From Bari to Durrës or Vlora, Italians heading to Albania are no longer just tourists, but also new residents of the Albanian capital,” begins the article of Italian daily La Stampa, which highlights how many Italian citizens are choosing Albania not only as a tourist destination but also as a place to work and live.

According to the renowned Italian newspaper, the low-cost destinations offered by the country are relatively cheaper compared to other tourist attractions in Europe. An example of this is Ksamil, considered the “affordable Maldives” of the Balkans, where prices are more appealing for foreigners than in other countries.

However, as it seems, for the Italian media, this isn’t the only reason why the number of foreigners landing at Albanian airports and ports increases every year. “Now, foreigners on the streets of Tirana are not just seeking leisure and entertainment but also opportunities for work and business. Low taxes still under 15%, the favorable labor cost, and artisanal prices are the main factors driving Italian businessmen to initiate or relocate their financial activities to Albania,” the article states.

According to updated data from the Italian Ministry of Foreign Affairs, there are more than 20,000 Italian citizens living and operating in our country for the past 5-6 years. Moreover, according to the latest data from the Bank of Albania, there are a total of around 2,700 Albanian-Italian enterprises, of which 1,911 are fully Italian, operating in the Albanian market.

Albania is considered the fourth in Europe for foreign investments, after Switzerland, the Netherlands, and Canada. And if the streets of Tirana are coveted by Italians to develop economic activities, places like Durrës and Vlora, among others, have become holiday destinations for neighboring state retirees, spending the third phase of their lives.

Despite the cost of living having increased in the past three years, Albania continues its journey to become a favored colony for Italians, for vacations, business, and living.

On the other hand, despite this, many Albanians have chosen European countries to relocate their lives as seasonal immigrants or asylum seekers in search of a new perspective.

You can read the original article here.