Visa liberalisation, Kosovo diaspora reduce remittances

This is disclosed in the report on the three-month assessment of the economy published by the Kosovo Central Bank (BQK).

“The value of remitted remittances in the first three months of 2024 has reached 281m euros, marking 3.6 per cent growth compared to the first three-month 2023. The slow growth of remittances in the first three months after visa liberalisation with EU countries may have been influenced by increased Kosovo visits to the diaspora, which provide financial support to their families for covering travel spending”, the BQC report said.

According to this report, remittances come mainly from Germany and Switzerland, which make up about 55.5 % of the total remittances, reports Front Online. Remitency through formal channels (banks and other institutions) has marked annual growth of 3 percent in TM1 2024, while 5.8 percent of remittances across other channels have been noted, potentially influenced by the increase in Kosovo visits to the diaspora.