TIRANA, Jan. 31, 2024 – A recent report by the European Bank for Reconstruction and Development (EBRD) has highlighted a stark contrast in the perception of quality of life between Albania and other countries in Southeast Europe and the Western Balkans.
While most nations in the region have seen significant improvements in life satisfaction since 2016, Albania stands out as an exception.
The EBRD’s Transition Report, presented jointly by the Bank of Albania and EBRD, unveils that despite Albania experiencing one of the region’s highest economic growth rates, the reported life satisfaction remains unchanged. In fact, the current life satisfaction is even lower than that of 2006.
The data raises questions about the socio-economic factors influencing the well-being of Albanians, according to an analysis by Albania’s Monitor business magazine.
EBRD’s report emphasizes the Southeast European region’s overall positive trajectory, with almost all countries witnessing a notable rise in life satisfaction over the years. Albania, however, is an outlier in this positive trend. Even though the country demonstrated significant economic progress since 2016, the life satisfaction index has remained relatively stable.
In 2006, Albania held one of the highest life satisfaction levels in the EBRD region. However, the recent report places the country among the lowest, alongside North Macedonia, Hungary, Turkey, and Lithuania, in 2022.
Kosovo emerges as one of the most optimistic states in the EBRD region, ranking third after Slovenia and Estonia among European countries.
The EBRD report suggests that the average increase in life satisfaction in the region could be attributed to rising incomes, favorable developments in labor markets, including shifts towards more satisfying and higher-skilled jobs and improvements in health.
