Diaspora last year sent 1.2 billion euros to Kosovo

According to recent Kosovo Central Bank data (BQK), in addition to remittances, the diaspora has also contributed to job creation through opening businesses.

According to BQC estimates, through remittances, investments and tourism, they amounted to 3.6 billion euros that corresponds to over 40 per cent of Bruto Local Product (BPV).

In 2022 alone, the diaspora has sent 1.2 billion euros, or 6.0 per centm over the previous year. Remititions have been characterised with sustainable growth over the years and are a secure source of income for many Kosovo families; Investments: The diaspora invests in businesses in Kosovo, contributing to economic growth and job creation”, the report says.

However, real estate investment is the main form of diaspora investment, and in 2022 alone, amounted to 523.7m euros.

While in tourism as a result of close family ties, both cultural and economic, the diaspora visits Kosovo several times over the year, with focus on the third quarter of each year, thus contributing to increased tourism industry through spending money in hotels, restaurants and local businesses.

In 2022, the increase in the number of visitors from the diaspora was accompanied by increased spending in Kosovo, worth about 1.9 billion euros; The weight that has diaspora in the country's generated activity, estimated through significant sources of consumer financing and investments such as remittances, investments and tourism, amounted to 3.6 billion euros in 2022, which corresponds to 40.4 per cent of BPV.