Albania is an upper-middle income economy – not yet fully integrated into world markets, but performing strongly. A key gateway to the Balkan Peninsula, Albania is blessed with plentiful natural resources, primarily oil and basic metals.
Following the collapse of Communism in the early nineties, Albania’s first democratic government undertook an ambitious market reform programme, liberalising price controls and privatising businesses. Modernisation is an ongoing process, however. Agriculture remains an important sector of the economy, employing just under 29% of the workforce.
The country’s poor communications network has long been a barrier to growth, and the EU is assisting the government in updating its road and communications network.
Industry contributes around 21% of GDP. Important industries include food processing, cement, textiles and footwear. Around 80% of Albanian goods are destined for EU markets. Foreign investment – chiefly from Italy, Germany and Turkey – accounts for around 50% of GDP. Remittances from the Albanian diaspora are another important source of national income, responsible for around 15% of national GDP.
Blessed with remarkable geographical diversity, Albania enjoys a growing reputation as a tourist destination. Not only are tourists drawn to Albania’s beautiful Adriatic and Ionian coastlines, the snow-capped Albanian Alps are becoming an increasingly popular destination for winter sports holidays.
Based in Tirana, Albania’s capital, HLB Talis is one of Albania’s most respected consultancy firms.
Latest insights, case studies and news from across the network
How the Dutch Meat Tax could affect the global food and beverage industry
In an effort to reduce emissions and encourage healthier, greener lifestyles across Western Europe, many national governments are now taking up the idea of a levy or tax on meat,...
Whistleblowers protected by EU Directive from December 2021!
Until the introduction of the EU Directive on this subject, only a few EU countries had comprehensive legislation on the protection of so-called whistleblowers. What are its features and how...
HLB Cross-Border Business Talks Podcast Series
An HLB podcast series in which we share our insights and ideas, and welcome guest speakers to keep you informed on cross-border business topics. We provide bite-size analysis on today’s...
Get in touch
Whatever your question our global team will point you in the right directionStart the conversation