25% of Albanian households live on remittances

25% of Albanian households live on remittances
25% of Albanian households live on remittances. There are 1.15 million Albanians who live and work abroad, almost half of the official population living in Albania. Altogether, within a year, migrant workers have sent 1.1 billion euros. Based on a simple calculation, each of them has sent 1 thousand euros a year or around 100 euros a month. These figures are confirmed by a special study of the Bank of Albania concerning remittances and the role that they play on the country’s economy, especially on household finances.

“Around 26% of households  in the territory of Albania benefit funds from abroad in the form of remittances”, experts say. What’s more, according to experts, these funds are more important for people living in rural areas compared to urban areas. But what do Albanian households spend the money sent by migrant workers on? For the “daily bread”, as people would say, while figures suggest that they are mainly spent on food. “Households receiving remittances spend more on consumption (food, beverage and clothes), housing (maintenance expenses and furniture) and healthcare”, experts say on this issue, confirming in a way that the money sent by migrant workers is not yet being spent on investments and development but to feed their parents, sisters and brothers who live in Albania in poor conditions.

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