Albania

Once one of the poorest European countries, after the collapse of the communist regime in 1991, Albania gradually transformed itself into a modern open-market economy. Today, this country of less than 3 million is an upper middle-income nation with enormous potential in sectors including tourism, oil and mining, healthcare and information technology. Furthermore, the country benefits from its labor cost competitiveness, the geographical proximity to the Italian market and its official candidacy for EU membership.

Yet, Albania still grapples with significant challenges. Transparency International’s Corruption Perception Index underscores ongoing issues in the public sector and the judiciary, as well as concerns related to organized crime and the vast shadow economy. The emigration of young, skilled labor exacerbates labor shortages, hampering investment across sectors. Underdeveloped infrastructure, limited economic diversification, heavy reliance on remittances from workers abroad, and exposure to potential spillover effects from economic crises in the Eurozone are additional weaknesses.