Albania is to build its first five-star resort which is expected to open a new chapter for the development of tourism.
The resort, valued at 90 million euros will be built at the coastal zone of Lalzi Bay by a Spain-based company.
Prime Minister Edi Rama said the project proves it is possible to build such complexes in Albania, as well as to benefit from them.
In 2016, tourism in Albania generated 1.5 billion euros in revenue and got transformed into a strong pillar of the Albanian economy. Compared to 2015, tourism’s contribution to the economy increased by 200 million euros, Rama said.
Recently, the Albanian government decided to cut value added tax (VAT) for tourism sector from 20 percent down to 6 percent.