Despite the crisis in finding employees, the increased costs from rising wages and the strengthening of the lek, foreign entrepreneurs are continuing to invest in Albania. Data from the Bank of Albania shows that the value of foreign investments last year reached almost 1.6 billion euros, 92 million more than in 2023.
This is the highest level ever recorded. "It's a big number for Albania, considering that the latter is small. It's a positive trend. We've done well, but it's still small," Mark Crawford, an American investor, tells A2 CNN.
The increase in property values in the country has also attracted the attention of foreigners, with real estate purchases ranking at the top of the list of foreign investments. The list is followed by investments in the extractive industry, energy and processing.
"There are many foreign tourists who are especially investing in real estate and not only. It is a sector where generally no large workforce is required. Everything is ready and the investment is carried out without obstacles," says Crawford.
However, the growth of foreign investment is now clearly dominated by reinvested profits of enterprises, while new capital inflows are almost non-existent. According to the Bank of Albania, reinvested profits during the past year amounted to 929 million euros, or 54 percent of the total investment flow in 12 months.
"This should be read as positive news as it shows that capital is not going abroad, but is being reinvested in Albania," says Crawford.
The Netherlands, Italy and Turkey are the countries that top the list for the value of foreign investments in Albania. (A2 Televizion)
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