Written by admin• June 24, 2022•
Economics
The Economics of Hungarian – Albanian Relations
In 2017 the first Hungarian investor, the low-cost airline company “Wizz Air”, entered the Albanian market (after the former airline company “Malev” left). It led to many more Hungarian investments in Albania, bringing a real growth in the first quarter of 2019, of 77 million Euros. This moment coincides with the finalization of the purchase of “Société Générale Albania” bank from the Hungarian Group, OTP.
During the last six years, Albania has exported on average 20 million Euros to Hungarian market on yearly basis, while before 2015 the exports had an average value of only hundred thousand Euros (Monitor, 2022).
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