Balkans | Expats sent 1.2 billion euros to Kosovo last year

The Kosovo community in Western countries sent 1.2 billion euros to the country last year.

This amount was 6 percent higher than in 2021.

In addition to remittances, expatriates have also contributed to job creation, according to the latest data from the Central Bank of Kosovo (BQK). According to BQK’s calculations, it amounted to 3.6 billion euros, which is equivalent to more than 40 percent of GDP through remittances, investments and tourism.

The money sent by expatriates to Kosovo has been instrumental in ensuring stable growth in the country over the years.

As a secure source of income for many Kosovo families, the diaspora contributes to economic growth and job creation by investing in businesses in Kosovo.

Despite this, real estate investment is the most focused area for expatriate investments, and real estate purchases in 2022 reached 523.7 million euros.

As a result of close family ties, expats visit Kosovo several times throughout the year, concentrating on the third quarter of each year, which contributes to the growth of the tourism industry.

In 2022, the number of visitors from the diaspora has increased, and the diaspora has spent about €1.9 billion in Kosovo.

Kosovaport