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Immigrant earnings at highest level since 2008, Germany and England on the rise after new immigration cycle

Politiko 2023-03-28 08:15:55

Immigrant earnings at highest level since 2008, Germany and England on the rise

The new wave of immigration is reflected in the money that the new immigrants are sending to their families, which they have left in Albania.

According to the statistics of the balance of payments of the Bank of Albania, the inflow of immigrants for the year 2022 reached 834 million euros, increasing by 9.6% compared to the same period a year ago and at the record level so far, that of the year In 2008, it was 834 million euros, which is the earliest year when the Bank of Albania reports the data.

According to the quarters, the highest value of remittances was reached in the third and fourth quarters, respectively with 216 and 242 million euros, the period when there is traditionally more inflow from immigrants due to the summer vacations and then the end-of-year holidays. The fourth quarter figure of 242 million euros is the highest ever recorded in a quarter since 2008, when the data was reported.

Immigrant remittances are following a new cycle of growth, which is mainly due to the new wave of immigration of the last decade.

The first waves of mass Albanian emigration started after the fall of the communist regime and the large number of Albanians left abroad became an important source of income for their families in Albania and for the Albanian economy as a whole.

This cycle seems to have peaked in the first decade of the new millennium, as emigrants who left in the 1990s built a life outside Albania and gradually weakened ties with their families in Albania. But, especially after 2013, a new cycle of immigration started, which is increasingly involving educated young people, who are taking advantage of the need for specialized work in different EU countries, especially in Germany.

According to Instat's estimates, Albania has a diaspora of approximately 1.7 million inhabitants, of which almost one million are scattered in different European countries.

The tendency to flee has accelerated after the slowdown in two years of the pandemic, and the United Kingdom is becoming a destination that is attracting many Albanians, especially young people. During 2022, asylum applications in the United Kingdom from Albanian citizens, according to preliminary official data from the United Kingdom government, reached 14.2 thousand, the highest level ever recorded. While in the 27 countries of the European Union, there were a total of 13.2 thousand applications for asylum in 2022, the highest level since 2020. Compared to a year ago, asylum applications in the EU-27 increased by 16%. https://www.monitor.al/aplikimet-per-azil-rekord-ne-britani-ne-2022-niveli-me-i-larte-ne-tre-vjet-ne-bashkimin-europian/

Germany is another destination, but it mainly attracts people who go with a work contract.

Sources from local money transfer operators said that Germany and England are new corridors, compared to the traditional ones, and have a better performance in the trend of sending money to their relatives in Albania./ Monitor