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Albanian-owned Credins Bank joins efforts to make Albania the European Caribbean

As more low cost flights from the United Kingdom to Albania pop up, UK media is predicting that millions of British tourists shall visit the country that was once considered a niche destination. With nearly 500 kilometers of coastlines, castles and forts, as well as beautiful lakes and mountains, Albania has become a new spotlight in tourism.

According to the World Tourism Organization, the Albanian government has put tourism as a priority sector in their economy. During the International Tourism Convention held in April this year, the Minister of Finances and Economy, Ms. Delina Ibrahimaj, said that this strategy was set to allow established facilities to prosper and new ones to be ignited. In comparison, Albania has increased 44.6% of their investments in tourism from 2021 to 2022, while the turnover of entities operating in this sector or connected with it increased by 39.9% during the same period.

Along with the Albanian government, private enterprises such as Credins Bank are also working on this project. In this first phase, the bank is focusing on small and micro businesses operating in tourism and agro-tourism, as well as larger businesses that are more engaged in these same sectors.

Ranking first for lending, with a market share of about 19%, Credins Bank has also an extensive experience in the market and a wide network established over the years. Moreover, being an Albanian-owned company, it has a great deal of knowledge of the specific national requirements when it comes to environmental resources and infrastructure, economy and culture. Such proximity ensures that both local and foreign investors can start projects with flexibility and professionalism.

With Credins, customers can also have access to a variety of services and products, including financing for investments and working capital, POS payments, wire transfers with competitive fees, a wide network of branches, businesses credit and debit cards, and more. More recently, the bank also introduced the Mobile Branch service: a van that travels to serve customers wherever they are, with a focus on tourists in particular.

According to the Albanian Ministry of Tourism, it is expected that the country will host about 10 million tourists this year. With a diversity of destinations, Albania is both attractive to those seeking to spend time in nature but also for those who want to learn more about local culture and history, as well as their cuisine. Visitors will happily learn that Albanians have a tradition to offer abundant food at the table for their guests, even at difficult times. Also, the country has already been named as “the Caribbean of Europe”, thus closing the gap in the chain of popularity that is held by Croatia, Montenegro and Greece.

For a Credins Bank’s spokesperson, Albania could be even considered a “second home for many foreign tourists, who are amazed by the diverse lifestyle they find in various parts of the country and passionate about traditional Albanian cuisine.” They explain visitors should expect a combination of oriental cuisines and other Balkan countries, which gives it a unique approach.

As for the nationalities that are most interested in visiting Albania, it is especially the Spanish and then the British tourists who are on the top of the list. Middle class British travelers are the ones to mostly take advantage of flights offered by Ryanair, which has increased its offers to Albania as a destination. It is an especially preferred spot for those who enjoy eco-tourism and want to sightsee landscapes being them in the coastline or in the mountains, where tourists can find waterfalls and tracks for hiking.