Emigrant remittances to their home country have reached a historic high, marking a significant milestone not seen since 2008, according to data from the Bank of Albania.
During the first half of this year, remittances from emigrants reached an impressive 444 million euros, representing an 18% increase compared to the same period last year.
This level surpasses the previous record held in January-March 2019, which amounted to 424 million euros. Since then, remittances had been steadily declining, reflecting the typical pattern of emigrants gradually distancing themselves from their home country after 15-20 years when they establish their families.
However, starting from 2017, remittances began to rise again, aligning with a new wave of emigration. In 2016, there was also a record number of asylum applications, with approximately 60,000 cases.
After a temporary reduction, largely influenced by the pandemic, 2022 witnessed a resurgence in emigration, with around 30,000 asylum applications filed, primarily in the United Kingdom.
In recent years, alongside traditional channels such as Italy and Greece, newer corridors for emigrant remittances have opened up in France, Germany, and the United Kingdom.
Local money transfer operators have reported that Germany and England, in particular, have shown promising trends for sending money back to Albania, surpassing traditional routes.
Additional data from Eurostat further demonstrates that the Albanian diaspora living abroad is steadily expanding, which continues to sustain remittance inflows.
Eurostat records indicate that in 2022, approximately 74,000 Albanian citizens (73,858) obtained residence permits in various EU countries. This figure represents a notable 34% increase compared to the previous year.
Notably, this is the highest number of residence permits granted since 2010, highlighting a clear trend of increasing numbers of individuals leaving Albania with the intention of residing and working in European Union member states.
Since 2008, EU countries have collectively issued a total of 832,000 residence permits to Albanian citizens, a figure that represents nearly one-third of the reported population residing within Albania.
It is important to note that an accurate count of the population remaining in the country is currently being conducted as part of the ongoing census this year.
