Professional activities contribute 7.4% of GDP

Professional Activities Have Highest Growth

Of all economic activities that form the Gross Domestic Product (GDP), over the last three decades the contribution of "Professional activities, support services" has increased significantly.

This economic activity generally includes liberal professions, lawyers, economists, accountants, professional services, dentists, consultancy, architectural, engineering activities, etc.

According to INSTAT data, professional activities contributed 0.93 percent to total GDP in 1995, while last year the weight of this group reached 7.4% of GDP.

Professional activities had the highest increase in their weight in the economy in relation to other major branches of the economy, such as agriculture and trade, Monitor reported.

Albania emerged from the economic regime with a completely closed economic cycle where the only provider of services and goods was the state. With the country's inclusion in the market economy, free enterprise began and the weight of the private sector in the economy began to grow, and with it the liberal professions. The need for legal services, notary, consultancy, auditing, etc. increased significantly year after year, significantly expanding the weight of these activities in the country's economy.

Professional services are becoming increasingly sought after year after year, becoming a more important voice in the economy. In recent years, many of the professional activities were driven by the change in the country's economic model.

The growth of the construction sector in recent years has significantly increased the demand for professional services such as design, architecture, engineering, consultancy, etc.

The tourism sector has also stimulated a series of professional activities such as cleaning, accounting, tourist guide services, market studies, consultancy, etc.

For more than 34 years in the market economy, businesses have been receiving services outside the company. For example, marketing departments are being outsourced to agencies. Instead of hiring lawyers, businesses pay law firms for representation. Also, complex property issues have increased the demand for legal services.

Also, in the last decade, due to the aging population and the increase in women's participation in the labor market, the demand for housekeepers, etc. has increased significantly. Comparable data show that Professional Activities in Albania have a higher share of GDP than in other countries in the Region, except Serbia and Montenegro.