Overview Of Albania
Population: The current population of Albania is 2.8 million, which is based on the Worldometer elaboration of the United Nations data. Its population is equivalent to 0.04% of the total world population.
GDP: The Gross Domestic Product (GDP) of Albania is 15.15 billion USD (2020), which declined by about 3.31% in 2020.
After the economy was affected in 2020, it is expected to grow by 4.4% in 2021. The IMF said that the country’s consumer price inflation would increase to 2% in 2021.
Brief Glimpse of Industries in Albania
- There are two main sectors of the Albanian economy: the primary sector and the tertiary sector.
- In the Albanian economy, agriculture is an important economic sector that contributes around 18.5% of the GDP and employs 36.1% of the workforce (World Bank, 2020). It mainly concentrates on livestock farming, dairy products, fruits, vegetables, wheat, oats, corn, potatoes, olives, and sugar beets.
- The industrial sector accounts for 20.2% of the country’s GDP and employs 20.2% of the active population. This sector mainly concentrates on food processing, oil, textiles and clothing, timber work (construction), cement, chemical products, mining, hydraulic energy, and transport.
- According to the World Bank, the manufacturing sector of Albania is estimated to contribute to nearly 6.3% of the country’s GDP.
- The services sector represents 48.6% of the GDP employing 43.7% of the workforce in Albania.
- Trade, hospitality services, and transport are important branches of the Albanian economy, contributing very strongly to the country’s economic recession.
- Tourism represents more than 20% of Albania’s GDP, and it is one of the sectors most affected by the pandemic. In 2020, the estimated number of tourists fell by 61.5% compared to last year (OECD). However, it is expected to grow in 2021.
- Thus, the strongest sectors of Albania are agriculture, energy, tourism, mining, and metallurgy.
One platform to grow your global team
Hire and pay talent globally, theTalk to an Expert
hassle-free way with
Cost of Living
The cost of living in a country can depend on several factors such as the city in which the person lives, state revenue, the type of industry dominant in that particular area, lifestyle, and taxation policies, etc. However, the main factor that determines the cost of living in a country is its location. The following information will give an insight into the cost of living in Albania.
Family of Four
- The average cost of living in Tirana, Albania, without rent in a family of four persons is USD 1170 or 120568 Lek/month.
- The average cost of living in Tirana, Albania, with rent in a family of four persons, is USD 1632 or 168177 Lek/month.
- The average cost of living in Tirana, Albania, without rent for a single person is USD 388 or 39983 Lek/month.
- The average cost of living in Tirana, Albania, with rent for a single person is USD 687 or 70795 Lek/month.
The average cost of renting in Albania is USD 250 or 25762 Lek/month.
The average cost of living in Tirana, Albania is USD 687, which is in the top 32 of the least expensive cities globally, ranked 6302nd out of 9294 in our global list, and 1st out of 10 in Albania. To maintain a decent standard of living with a salary of USD 1000 or 103050 Lek in Tirana, Albania. You will need USD 616 or 63478 Lek a month in Vlore. Thus, the cost of living in Tirana is 1.62 times higher than living in Vlore.
Top Industries That Are Expected To Hire In Albania 2021
The top industries that are expected to hire in Albania are as follows:
- Agriculture sector: This is a very important economic sector for Albania, which employs 36% of the workforce in the country. It has a contribution of 18.5% of the GDP in the country.
- Industrial sector: The industrial sector employs 20% of the current active population in the country. This sector is actively growing and has great demand in the future.
- Service sector: The service sector in Albania is the new dynamic. The two main services where Foreign Direct Investment (FDI) is oriented are telecommunications and financial intermediation. However, telecommunications is the most dynamic and in-demand service sector in the Albanian economy.
Top Skills In Albania 2021
The top skills that are in demand in Albania 2021 are as follows:
- Call center operators
- Software engineers
- Mining technical
- Industrial sewing machine operators
- Industrial footwear production
- Constructing technical
- Sanitation and housekeepers
- Product managers
- Security operations engineers
- Reinforcing Ironworkers
- Technical engineers
- IT experts
- Food machine operators
- Sales agents
- Accountants and economists
- Web designing
- UI/UX designers
- Web development
- Human resources
Top Skills City-Wise In Albania
The skills that are in demand in Tirana are as follows:
- Sales executive
- Social media marketing
- Data analytics
- Web designer
The skills that are in demand in Durres are as follows:
- UI designer
- Product Manager
- Web developer
- Software engineer
The skills that are in demand in Vlore are as follows:
- Marketing specialist
- Administrative assistant
- Data analytics
- Technical engineer
The cost of hiring in a country plays an important factor that should be considered while employing people. It depends on several factors: screening checks, legal assistance, translator, staffing agency, hiring committee, formation of a legal entity, and advertisements. Few other factors that affect the cost of hiring are the cost of living in a city, training, onboarding costs, and opportunity costs.
Salary Structure For Various Industries
The average gross monthly salary of various industries and sectors are as follows:
- Administration – 45,953 Lek
- Agriculture, Food Industry – 42,354 Lek
- Economy, Accounting, Finance – 62,930 Lek
- Arts & Culture – 47,435 Lek
- Banking – 68,309 Lek
- Chemical Industry – 55,888 Lek
- Car Industry – 54,404 Lek
- Commerce – 53,802 Lek
- Construction & Real Estate – 60,436 Lek
- Education, Science & Research – 50,203 Lek
- Electrical & Power Engineering – 58,611 Lek
- General Labor – 40,991 Lek
- Human Resources – 63,901 Lek
- Information Technology – 83,393 Lek
- Journalism, Arts & Media – 50,717 Lek
- Law & Legislation – 69,078 Lekn
- Management – 87,698 Lek
- Marketing, Advertising, PR – 61,662 Lek
- Mechanical Engineering – 55,958 Lek
- Medicine & Social Care – 49,170 Lek
- Mining, Metallurgy – 58,615 Lek
- Pharmaceutical Industry – 63,023 Lek
- Production – 50,981 Lek
- Public Administration – 57,071 Lek
- Quality Management – 62,912 Lek
- Textile, Leather Industry – 34,764 Lek
- Top Management – 128,680 Lek
- Tourism, Hotel Business – 42,516 Lek
- Translating, Interpreting – 54,655 Lek
- Transport, Haulage, Logistics – 46,923 Lek
- Forestry, Environment – 53,221 Lek
- Wood Processing Industry – 45,624 Lek
- Security & Protection – 48,325 Lek
- Service Industries – 41,790 Lek
- Technology, Development – 75,762 Lek
- Telecommunications – 67,706 Lek
The salary range for working people in Albania is between 30,548.00 Lek (minimum salary) and 99,003.00 Lek (maximum salary).
Employment Laws In Albania
- According to the Albanian Labor Code, regular daily working hours shall not exceed eight hours.
- All contracts of employment need to be in writing, according to the Albania Labor Code.
- The employer cannot ask the employee to perform overtime work or tasks if the employee has already performed 48 working hours during a week.
- During the hiring process and after employment, an Albanian employer should not discriminate amongst employees, protect against corruption, and allow them the right to unions.
- Health and safety rules should be followed at work, and pregnant women should be protected.
- Employers should follow the minimum wage rules, laws on annual holidays, paid leaves, and overtime limits to ensure the protection of all those Albanian workers.
How Can Skuad Help With Hiring In Albania?
Hiring in Albania requires in-depth knowledge of the laws, trending skills, hiring, and living costs city-wise. Skuad comes onboard as a one-stop solution for handling every detailed aspect of seamlessly managing global talent and recruitment. It gives you space and time to focus mainly on your company and helps expand your plans without any hiring stress. It also provides you with exceptional and raw talent. Connect with Skuad Experts to know more.