Covid-19 pandemic completely unbalanced the economic development during 2020 in Albania. It caused huge losses in some categories of businesses.
All of the changes were largely accompanied by contractions in employment and the wage bill index. According to short-term statistics during 2020, air transport industry in Albania was the hardest hit in terms of the employment index. It decreased by 56.5 percent in the last quarter of 2020, compared to the same period a year earlier.
Following air transport, the pandemic dealt the biggest blow to employment in tourism-related businessesin Albania, such as hotels (43%), travel agencies (34.6%), bars and restaurants (27%).
The wage bill index in the last quarter of 2020 had more or less the same performance.
According to INSTAT data, the sectors related to tourism had the largest decline in the indicator. Hotels (46%), air transport (43%), bars and restaurants (35%), and travel agencies (29 %).
Aviation market in Albania isn’t recovering
The aviation market in Albania hasn’t recovered in the first two months of 2021.
Eurostat reports the progress of commercial flights in European countries, including Albania. The information comes from Eurocontrol, Monitor magazine writes.
According to the data, in January, the number of flights from Albania was 55.6% less, while in February by 54.9%, in comparison with 2020.
Since March, when Europe imposed travel restrictions as a measure to curb the pandemic, commercial flights to and from Albania fell by 51.4%. Meanwhile in the following two months (April-May) they shrank by over 90% and over 80% in June. After an improvement in summer, the decline was 30-40%. At the end of 2020 saw a further decline, as a new wave of pandemic started in the continent.
Eurostat reports that following restrictions in Europe and changes in travel preferences, the most significant decline in the number of commercial flights is in April 2020. More precisely -91% compared to the same month in 2019, May -90% and June -84%. 2021 also started with problems, while in February commercial flights fell by -73%. This is compared to the same month in 2020.