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The fall of the euro worries tourism

2023-07-05 20:02:20Biznes SHKRUAR NGA REDAKSIA VOX
The fall of the euro worries tourism
The fall of the euro worries tourism

The drop in the exchange rate of the main currencies compared to the lek has become a concern not only for citizens who have currency, but mostly for businesses, while the tourist season is increasing.

According to the Bank of Albania, the European currency was exchanged today for 104.55 ALL, losing 0.3 points to our national currency and setting another new record. But in Durrës, 1 euro was exchanged for 103.9 ALL, while 1 US dollar was 95.2 ALL.

Sources from foreign exchange agencies say that there are three main reasons for the continued decline of the currency: the entry into the real estate market of buyers from Russia and Ukraine, the arrival of many foreign tourists for vacations, as well as the introduction into circulation of large amounts in euros and dollars from second-tier banks.

Business representatives in the hotel-tourism sector say that the losses are significant, given that they have closed contracts with tourist agencies a year ago and the price cannot move in this period of the year.

It is not known what the trend will be in the following days, but what is spoken with guarantees by foreign exchange representatives is that at least for the months of July and August, it will be difficult to increase the value of the euro and the dollar compared to the lek. .

The drop in the euro exchange rate in the foreign exchange market becomes more worrying in tourist areas where private enterprises are forced to make purchases and services from foreign tourists in euros, while liquidations, bank interest, taxes and generally spend in lek.

In Saranda, the largest tourist city in the south of the country, the losses from this unusual situation of the decrease in the value of the euro in relation to the lek for the subjects operating in the field of tourism are considerable.


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