Tunisia's trade deficit narrows as remittances, tourism revenues increase
(MENAFN) In a positive economic development, Tunisia's trade deficit saw a notable decline of 20.7 percent year-on-year during the first quarter of this year, reaching USD976 million. This improvement is attributed to various factors, including an increase in remittances from workers abroad and a rise in tourism revenues. According to the Tunisian government's announcement on Wednesday, remittances from overseas workers experienced a 4 percent uptick, reaching USD743 million in the same quarter. Concurrently, tourism revenues surged by eight percent, totaling USD390 million for the period.
Tunisia's tourism sector, in particular, has shown promising signs of recovery, marking a significant turnaround since the onset of the Covid-19 pandemic. Reports indicate that tourism in Tunisia experienced a robust resurgence, welcoming 8.8 million visitors in 2023. This figure represents a remarkable 49.3 percent increase compared to the previous year and surpasses the pre-pandemic record set in 2019. Ayman Rahmani, the Director of Studies and International Cooperation at the National Tourism Office, underscored the country's ambitious target to recover 80 percent of the tourist flows observed in 2019, which serves as a benchmark for the past decade.
The resurgence of tourism in Tunisia reflects concerted efforts to revitalize the sector and capitalize on the country's rich cultural heritage and natural attractions. The significant increase in tourist arrivals not only boosts foreign exchange earnings but also stimulates economic activity across various sectors, including hospitality, transportation, and retail. As Tunisia continues to navigate the challenges posed by the pandemic, the resilience of its tourism industry signals a promising trajectory for economic recovery and sustainable growth.
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