The “Conference of Investments in Tourism and Economic Development of Europe and Albania” began today, the second day of the World Tourism Organization’s Commission for Europe meeting. The conference is focused on promoting investments, sharing success stories, and discussing future prospects in Albania. Deputy Prime Minister Belinda Balluku, Minister of Economy, Culture, and Innovation Blendi Gonxhe, Minister of State for Local Government Arbian Mazniku, and ministers representing the tourism industry from across Europe attend.
The conference’s start was greeted by Albania’s Minister of Tourism and Environment, Mirela Kumbaro, who stated that the country has entered a new phase of tourism investment based on the unavoidable principle of sustainable development.
Albania has entered a new age of tourism investments with the non-negotiable strategy of sustainable development, according to Minister of Tourism and Environment Mirela Kumbaro, who also welcomed the conference’s opening.
“Albania has entered a new age in the tourism industry, but it’s equally important for Europe that “Investments in Tourism and Economic Development in Europe” emphasize environmental protection and sustainable development as mandatory for the future, according to Kumbaro.
Minister Kumbaro also addressed the statistics, information, and financial tools that make investing in Albania appealing.
“I am referring to the latest report released by Standard & Poors, highlighting the enhancement of Albania’s sovereign credit to a “B+” long-term rating, highlighting the improvement in the nation’s fiscal standing. Albania is currently enjoying the results of years of hard work thanks to the legislative framework we created, which reduced tax burdens on tourism-related investments by lowering the VAT rate from 20% to 6% for all hotels—from the smallest guesthouses and agrotourism to more upscale structures;
In 2023, Albania’s tourism industry generated a total of 4.2 billion euros in revenue, compared to 2.8 billion in 2022. This money supports every link in the nation’s commercial chain”, Kumbaro stated.
Kumbaro concluded her statement by thanking the World tourist Organization, which was a direct result of her tight collaboration with UNWTO partners in developing a guide for investments in Albania’s tourist sector.