- United States and Sweden join forces to support the development of Albania’s tourism industry through a $6 million project
- Capital investment in Travel & Tourism expected to rise by 3.6%pa over the next 10 years (World Travel and Tourism Council)
- Increase in international enquiries from the UK, Sweden and France in luxury Albanian property (Lalzit Bay Resort & Spa)
As Albania continues to step out into a more international spotlight, it is apparent that other countries are starting to recognise the untapped potential that this Balkan nation has to offer. The most recent expression of support comes from The United States Agency for International Development (USAID), in collaboration with the Embassy of Sweden in Albania, to promote sustainable tourism and spur local economic development in Albania.
Over the next five years, this $6 million project will aim to contribute to improvements within Albania’s tourism sector that in turn will serve as catalysts for job creation and economic growth. According to the latest figures released by the World Travel and Tourism Council (WTTC), the direct contribution of Travel & Tourism to Albania’s GDP is expected to grow by 4.1% per annum for the next 10 years.
With the economy’s positive trajectory becoming inextricably linked with the success of the tourism sector, international projects like USAID’s are not simply investing in one industry but in Albania as a country with an extremely promising future. Peter Walshe, Sales & Marketing Director of Albania’s first affordably luxurious resort, Lalzit Bay Resort & Spa, is thrilled by this new surge of overseas interest,
“Albania is definitely becoming more attractive to overseas investors, with the country gaining momentum as an international hotspot. With the rise of GBP against the Euro we’ve seen a significant increase in enquiries and sales in recent years from the UK, making up 70% of total sales in the last two years. In addition to the UK, buyers are showing notable interest from Sweden, Germany, Austria, France, the US and the Middle East.
“Hopefully this latest investment project will work cohesively with those already established in Albania and enhance the already encouraging success of the country’s tourism industry. We can’t wait to see this fascinating nation reach its full potential and are very excited to be a part of it.”
According to INSTAT, the second quarter of 2015 has also seen a 42.1% increase in the number of foreigners who were visiting for vacation purposes, highlighting the recent surge of international interest as Albania emerges as a must see destination
It is expected that Albania’s travel and tourism industry has attracted significant capital investment that amounted to ALL19.6bn in 2014, with the WTTC predicting that this figure will rise by 3.6% per annum to a substantial ALL28.5bn in 2025. Such promising projections suggest that international interest is set to continue, if not increase, with Albania’s international magnetism growing ever stronger.
The most recent World Bank report predicts that the Albanian economy will record growing trends during the fourth quarter of this year, exceeding other regional countries’ economic growth. Emerging as a competitive economy within the region, Albania is not only becoming a must-visit tourist destination, international buyers are also turning their attention to the prospective investment options that are starting to arise.
Lalzit Bay Resort & Spa provides a vast selection of investment and lifestyle opportunities to suit each individual buyer’s needs. The beautiful beachfront resort comprises of one and two bedroom apartments and three and four bedroom villas as well as a select number of five and six luxury freehold villas.
Apartments are well designed and generously proportioned, while the villas are the height of luxury, each benefitting from the option of a private pool, with prices ranging from €50,000 for apartments and from €180,000 for villas. Just 30 minutes from Tirana International Airport, the resort is situated in the perfect location for a relaxing beach holiday or a trip of a more adventurous nature exploring Albania’s entire coastline and stunning mountainous interior.
Lalzit Bay Resort & Spa also boasts an assortment of 5-star amenities including a beach club, tennis courts and a range of shops and eating and drinking facilities, alongside a 24 hour on-call medical service onsite and 24/7 security presence.