Tunisia Tourist Revival A Rare Bright Spot For Crisis-Hit Economy

Tunis
Tunisia is set for a strong tourist season with visitor numbers nearing pre-pandemic levels, a government official told Reuters, bringing some badly needed foreign currency into an economy mired in crisis as bankruptcy threatens state finances.
Tourism typically accounted for around 7% of Tunisia’s gross domestic product but visitor numbers collapsed during the COVID pandemic, putting extra strain on an economy that was already in trouble. However, authorities now expect about 8.5 million tourists this year, 90% of the 9.4 million in 2019, the last year before the pandemic, and a big jump from the 6.4 million last year, Tourism Ministry official Lotfi Mani said.
Even a very good tourism season would only go a small way towards alleviating the massive hole in Tunisia’s public finances, which has led to shortages of some foods and medicine, or to strengthen its overall economy. Foreign currency reserves have fallen to 91 days of exports from 123 days a year ago and credit ratings agency Fitch has graded Tunisian sovereign debt as junk, signalling market fears it may default on foreign loans.
Though Tunisia has a wealth of historic heritage from ancient civilisations, Berber tribes, Islamic dynasties and Mediterranean naval powers, tourism there is mostly focused on beach resorts and short-stop cruise ships. For the village’s many businesses that cater to tourists, their return is good news, even if Tunisia’s overall economic outlook is increasingly bleak.