Geographical Analysis: Significant Attributes of Albania essay sample

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Geographical Analysis: Significant Attributes of Albania

Abstract

The present paper concentrates on the description of Albania. Its significant characteristics are enumerated. Apart from this, the economic philosophy and its impact on the country’s economic growth are discussed. Finally, Albania’s migration patterns and their effects on the economy and culture are evaluated.

Geographical Analysis: Significant Attributes of Albania

Albania is a country situated in the southeastern Europe. The country shares borders with Greece, Macedonia, Kosovo and Montenegro and is washed by the Adriatic Sea and the Ionian Sea. Albania’s total area is 28 748 km2. The capital Tirana, Elbasan, Shkoder and Sarande are among major cities. According to the Central Intelligence Agency (2015), Albania is reach in natural resources, such as petroleum, coal, natural gas, chromites, iron ore, copper, nickel, salt, and timber. The country is also known for its agriculture. The population of Albania is 3,029,278 people, with Albanians being the most numerous ethnic group.Albania is a parliamentary democracy. Its economic philosophy is capitalism which is characterized by a modern open-market economy. The country’s economic growth has both benefit and detriment from capitalism.

On the one hand, Albania’s Gross Domestic Product (GDP) increases; the country has close economic ties with many European countries. International partners help the Albanian government to improve road and rail network which is considered to be a barrier to the economic growth. Besides, foreign direct investment (FDI) has increased in recent years as the government has introduced a program of improving the business climate by means of legislative reforms. On the other hand, trade, remittance, and financial connections with Greece and Italy make Albania vulnerable to side effects of debt crises and cause weak growth in the euro zone. Apart from this, poor business environment in Albania is caused by a weak legal system, complex tax codes, and corruption.

Albania’s population is increasing. It is seen from the positive population growth rate. However, 2015 has shown a negative net migration rate in Albania, that is the difference between the number of immigrants and the number of emigrants. According to this rate, the country is ranked only 184 among 222 world countries. As a result, there are negative effects on the economy and culture. Thus, Albania is culturally attractive, but there are fewer international tourists because of a negative net migration rate. More than that, since Infant Mortality Global Rank is high in the country (IBM, n.d.), economically active population is likely to decrease.

Finally, according to current migration patterns, Gross national saving rate is also decreasing, which can mean outflow of capital abroad.ConclusionAlbania is situated in the southeastern Europe and has the population of more than 3 million people. The country benefits from capitalism and loses as well. Thus, Albania’s economic growth is both positively and negatively effected by close economic ties with Greece and Italy. At the same time, the government’s target is to introduce reforms into several economic sectors. As for Albania’s migration patterns, the country is characterized by a negative net migration rate, which is followed by negative …

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