Albanians are moving away from businesses in the manufacturing sector, directing investments towards entrepreneurship in the tourism and construction sectors.
Data from the Institute of Statistics shows that out of about 117 thousand enterprises in total at the end of 2023, almost 100 thousand or 84 percent of the total were in trade, services, accommodation and construction. Meanwhile, the number of businesses in the manufacturing and processing industry has shrunk by 352 units over the past year.
"This goes in parallel with economic developments. We have two sectors, tourism and construction, that have experienced a boom in recent years and consequently this has led to an increase in businesses. It is in trend in recent years," SME expert Daniel Guçe told A2 CNN.
Data from INSTAT show that the number of active enterprises has expanded by almost 4 thousand or 3.4 percent in the past 12 months. These have mainly been small and medium-sized businesses.
"They are enterprises with 1-4 employees. We actually need large businesses, those with over 50 employees which provide half of the total turnover of economic activity in a year," Guçe added.
This trend is expected to change this year. Market experts predict more businesses in the field of information technology this year.
"There are several initiatives from the government and international institutions that are expected to bring an increase in innovative entrepreneurship."
Data from INSTAT show that a total of 560,000 individuals are employed in enterprises in the country. This figure has expanded by 2.2 percent in the space of a year. (A2 Televizion)
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