[Saranda-L] Albanian Observer: Tourism - build it and they will come

[Silke Blumbach]

(From: Albanian Observer 3/2000)

The law for tourism is the most completed part of the Albanian law by
all urban studies. The chairman of the Tourism Development Committee,
Sherif Bundo, states that there are master plans for most of the tourist
areas in Albania. He says that tourism is the only sector getting
financial facilities. The Tourism Development Committee, by the
attributes of the Ministry applies the status of stimulated person to
all investors, which means that every investor is exempted from all
custom duties for all raw materials, equipment and machinery he brings
into Albania. The investor is exempted from income tax for the first
five years of investment. Also, the Albanian government leases public
land at half of its value. The land can be leased to the investor for a
period of 100 years (4 times 25 years). The formula of the price of the
rent for the land is defined case by case on the appraised value of the
land. However, Mr Bundo states that this is a symbolic value. In case
the land designated for tourism development is owned by private
individuals, Albanian law gives the option for purchase or cooperation
with the owner of the land.

There are a lot of opportunities for investments, Mr Bundo keeps
insisting. The tourist geography of Albania provides a lot of
opportunities for constructing hotels, resorts, camp grounds and other
sport - tourist areas, tourist ports, tourist villas, and other
opportunities for the restoration of the destroyed hotels in Albania. Mr
Bundo states that all the Albanian coast is a tourist zone by law. There
are some other zones, too, like Pogradec, some other in the mountains.
He suggests that the agencies may help a lot. They might be a small
investment, but the owners can make big profits within a short time.
>From the studies point of view, there are at least 250 projects for the
development of tourism with a total general value of $ 700 million. A
part of it at the value of $ 120 million is implemented and the rest is
in process. The construction of hotels in Albania is, over all, too low
compared to other countries with a predominant tourist development. If
we refer to two elements, the cost of setting one bed (capacity) and
the monthly salary of an Albanian worker, they are accounted
respectively $ 6.000 to 20.000 and the salaries to $ 400 per month. All
those arguments, according to Mr Bundo, are reasons that the Albanian
tourism becomes very attractive for investment.

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Albanian Observer
Tel.: (+355 42) 400 18; 352 42
albops at openmedia.org.al
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