Tunisia gains momentum with major tourism projects
Mohamed Mehdi Haloui, Director of Investments at the National Tourism Office, highlighted the revitalization of Tunisia as a tourist destination, particularly emphasizing the growing interest from foreign investors.
He noted that several international brands have expressed interest in expanding their presence in the country, either by opening new hotel units or enhancing existing operations through expansion projects.
In an interview with African Manager on Tuesday, February 11, Haloui confirmed that the current period is marked by the completion of numerous tourism projects, with a total value of nearly 120 million dinars.
He also revealed that the Ministry of Tourism is reviewing several legislative texts and laws to further stimulate investment in the tourism sector. Haloui stated that the sector has seen an improvement in investment activity over the past year, both in terms of investment intentions and actual investments.
He detailed that total investment intentions reached 936.038 million dinars, while the value of realized investments was estimated at around 172 million dinars, with approximately 156 million dinars allocated to completing tourism accommodation projects.
'Investment intentions in 2024 showed growth compared to 2023, when they stood at around 870 million dinars,' he added.
Major tourism projects soon to launch in Tunisia
Haloui announced that the tourism sector will be bolstered by the launch of several significant projects, including a new Hilton-branded hotel in Tunis.
'In the South, work is nearing completion on two new units. We also hope that the Tamerza Palace Hotel will reopen this year, following the completion of all procedures by the project review committee. Additionally, work on the Forest Hotel in Jendouba has reached advanced stages, and it will reopen to the public in the coming weeks,' he said.
He also assured that numerous tourism establishments in Sousse and Hammamet are set to open soon.
Haloui announced that a Libyan investor has decided the fate of the iconic inverted pyramid hotel (Hôtel du Lac) in Tunis after holding a series of meetings with the Tunis Municipality and the National Heritage Institute.
He confirmed that it has been decided to preserve the hotel's architectural structure, effectively abandoning the previously proposed demolition plans.
Tourism revenues rise by 6.3%
Cumulative tourism revenues increased by 6.3%, reaching 6.6 billion dinars as of November 20, 2024, according to monetary and financial indicators published by the Central Bank of Tunisia.
Remittance revenues also saw a positive increase of 2.7%, reaching 7 billion dinars compared to 6.8 billion dinars the previous year. External debt servicing rose by nearly 24%, exceeding 13 billion dinars as of November 20, 2024.
Net foreign exchange reserves remained stable at 24.8 billion dinars, equivalent to 112 days of imports.
Factors behind the growth
The observed growth is attributed to several factors. The return of political stability, combined with an aggressive international tourism promotion campaign, has clearly paid off. Tourists, drawn by Tunisia's cultural and natural riches, have responded in increasing numbers.
While sector professionals welcome these encouraging results, they remain cautious about the future. Challenges persist, including heightened competition from rival tourist destinations and global economic uncertainty. Nevertheless, medium-term prospects appear favorable.
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