The cost of living rises, foreign retirees leave

The rise in living costs, especially in rents and food prices which are now above the European average is driving away foreign retirees who had chosen our country as their place of residence.

According to INSTAT data, the age group over 60 represents a significant portion of foreigners living in Albania. Last year, 3,007 people in this age group held residence permits in the country, marking a 15.5% decrease compared to 2023.

Although the total number of foreigners with residence permits increased (from 21,460 in 2023 to 21,940 last year), the over-60 age group has declined both in number and as a percentage.

The decline in this group is linked to the relocation of foreign retirees to other countries offering more favorable conditions for long-term stays or a lower cost of living.

Data show that the migration profile toward Albania is becoming more dynamic and younger in age, with a drop in the “permanent residence after retirement” component.

In the age group up to 19 years old, the number slightly increased from 1,891 in 2023 to 1,947 in 2024, representing about 9% of all foreigners living in Albania. This category mainly includes children and young people who live in Albania as part of foreign families or with parents working in the country. The stable share of this group indicates that family migration flows have not changed significantly.

The 20–29 age group saw the highest growth among all categories from 3,811 people in 2023 to 4,356 in 2024, or 14% accounting for 20% of all foreigners with residence permits in Albania. This shows a notable increase in the arrival of young people, seasonal workers, or students who view Albania as a destination for study or work.

In the 30–39 age group, there was also a strong annual increase of 11.7%, with a total of 5,395 people in 2024. This group made up 24% of all foreign residents. It mostly represents people active in the labor market professionals who settle for medium- or long-term periods for economic reasons. The growth of this age group indicates that Albania is increasingly attracting working-age foreigners who see the country as a place with employment or investment opportunities.

In the 40–49 age group, the number of foreigners reached 4,283 in 2024, an increase of 10%. This group also includes professionally active individuals, often with considerable experience, who may work in sectors such as construction, energy, or financial services.

The 50–59 age group recorded a 15% decline, showing that foreigners in this age bracket are less likely to stay in Albania, possibly due to their proximity to retirement age.

“KORÇA BOOM”