Average and minimum salary in Albania: let’s analyze the wages in Albania and its capital Tirana in this post
Albania is one of the most affordable countries in Europe, offering a number of opportunities for entrepreneurs. Let’s analyze the average and minimum salary in Albania and understand the challenges and advantages of working in this Southern European nation.
Despite the fact that Albania still is one of the poorest countries in Europe, opportunities in a number of sectors in the country are rising. Below we will find more information about wages in Albania. We also will feature a brief economic outlook for this small nation in the Balkans region.
Minimum Salary in Albania in 2020
Despite being one of the least wealthy European nations, income in Albania has seen a steady growth in the past two decades. As of 2020, the minimum salary in Albania is of 26,000 Albanian leke, or roughly USD 240. That minimum wage applies to the private sector, while the public sector has a higher minimum salary.
In Albania’s capital, Tirana, wages tend to be higher, and the minimum salary applies mostly to unskilled professionals.
Average Salary in Albania
Average wages in Albania are significantly higher than the country’s minimum salary, however they are still way below the standards in Central or Western Europe. Currenty, the average salary in Albania is of $350 per month. This figure is slightly higher in the capital, and lower in other regions of the country.
Despite having low salaries, the cost of living in Albania is more affordable than most countries in its region. You can rent a 1 bedroom apartment in the center of Tirana for 300$ per month (without utilities).
More information on salaries in Albanian can be found at the Albanian Institute of Statistics website.
Albania Economic Outlook
Albania’s economy has a similar profile to many economies in the Balkan region, suffering a complete transformation in the 1990s. Nowadays, Albania has an open economy and is trying to attract foreign investments. Being rather small in terms os population and having a very mountainous relief, Albania still has a lot of room for improvement in terms of infrastructure. Some of the Albania’s main exports are crude oil, garments and chromium ore.
One of the fastest growing sectors in the Albanian economy is tourism. The country has a privileged position bother other important European tourism hubs like Greece and Montenegro. Albania is also easily accessible from Italy via ferries. The tourism sector is one of the best bets in the country’s economy, and many hospitality business are thriving in the country.
Getting a permit to live in Albania is also relatively easy. It is in fact, one of the easiest countries in Europe to get residence if you are not an EU citizen (Albania is also not part of the EU). Considering its low prices and relatively lower bureaucracy for foreigners, Albania can be a good option if you want to invest in Tourism in Europe.
If you are visiting Albania anytime soon, check our guide on where to stay in Tirana, the capital of Albania.
Interesting Resources for Working and Living Abroad
Are you really considering to work and live abroad, temporarily or permanently? Below are some resources that might be useful for you around the web:
World Nomads: this company provides travel insurance in most countries around the world. It might be a good option if you going for a long travel.
Booking.com: Booking.com is the best choice for finding accommodation for your next trip. It offers a wide variety of accommodation options for all types of travelers.
You may also want to check our website guides:
Train Travel Guide: in our railway travel guide, you will learn how to choose and ride the most scenic train routes around the world. Travel always in the most comfortable way with optimal prices to enhance your travel experience.
Work Abroad Guide: Learn how to find a job and employment requirements in different countries. From the initial job search, to bargaining salaries, this guide will help you to find job in most countries. It also covers about remote work and TEFL jobs.