WTTC: Albania’s tourism to record moderate growth in next decade

TIRANA, Sept. 18 – The World Travel & Tourism Council (WTTC) expects the Albanian tourism industry to moderately grow in terms of direct contribution to GDP, employment numbers, and investments for the next 10 years. In a newly published country report, the London-based organization expects the direct contribution of Travel & Tourism to Albania’s GDP to grow by 5.6% in 2012, and to rise by 5.4% pa, from 2012-2022, to ALL 145.4bn in 2022. The direct contribution of Travel & Tourism to GDP in 2011 was ALL 81.4bn (6.2% of GDP). This is forecast to rise by 5.6% to ALL85.9bn in 2012. This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
The direct contribution of Travel & Tourism to GDP is expected to grow by 5.4% pa to ALL145.4bn (7.0% of GDP) by 2022.
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts,) was ALL287.9bn in 2011 (21.8% of GDP) and is expected to grow by 5.1% to ALL302.7bn (22.1% of GDP) in 2012. It is forecast to rise by 5.3% pa to ALL505.0bn by 2022 (24.2% of GDP).
As far as employment is concerned, WTTC expects Travel & Tourism industry to account for 70,000 jobs or 6.5% of total employment by 2022. In 2011, Travel & Tourism directly supported 51,000 jobs (5.5% of total employment). In 2011, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 19.8% of total employment (183,500 jobs). This is expected to rise by 3.7% in 2012 to 190,000 jobs and rise by 2.4% pa to 242,000 jobs in 2022 (22.5% of total).
Visitor exports, which includes spending within the country by international tourists for both business and leisure trips, as well as transport, generated ALL182.4bn (41.8% of total exports) in 2011. This is forecast to grow by 5.0% in 2012, and grow by 5.3% pa, from 2012-2022, to ALL322.3bn in 2022 (27.6% of total). Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2011, Albania generated ALL182.4bn in visitor exports. In 2012, this is expected to grow by 5.0%, and the country is expected to attract 2,744,000 international tourist arrivals.
By 2022, international tourist arrivals are forecast to total 3,769,000, generating expenditure of ALL322.3bn, an increase of 5.3% pa.
Travel & Tourism investment in 2011 was ALL21.0bn, or 4.8% of total investment. It should rise by 7.5% in 2012, and rise by 4.6% pa over the next ten years to ALL35.4bn in 2022 (5.0% of total).
Leisure travel spending (inbound and domestic) generated 75.1% of direct Travel & Tourism GDP in 2011 (ALL165.8bn) compared with 24.9% for business travel spending (ALL55.0bn).
Business travel spending is expected to grow by 9.8% in 2012 to ALL60.4bn, and rise by 4.5% pa to ALL93.4bn in 2022.
Leisure travel spending is expected to grow by 4.4% in 2012 to ALL173.1bn, and rise by 5.7% pa to ALL302.4bn in 2022.
The report ranks Albania’s Travel & Tourism direct contribution to GDP at 6.2 the world’s 42nd lower than Croatia’s 11 percent and neighbouring Montenegro and Greece’s 7.5% and 6.4% respectively.