Thursday, June 27, 2024
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The World Travel & Tourism Council (WTTC) disclosed in their June 26, 2024, Economic Impact Research report that Tunisia’s Travel & Tourism sector is expected to make a record contribution of TND 23 billion to the national economy this year. This sector is anticipated to reach new heights in terms of economic influence, employment rates, and local tourist spending.
Despite a slower recovery in spending by international tourists, which is not expected to match the 2019 high this year, the WTTC forecasts it will closely approach that level.
The sector is projected to account for 14% of Tunisia’s total economic output, with job growth in Travel & Tourism expected to increase by 3.9% annually, reaching nearly 418,000—equivalent to one in every nine jobs in the country.
Spending by domestic tourists is forecast to rise by 5% from the previous year, totaling TND 11.7 billion, slightly surpassing the figure from 2019 by 0.7%.
Although spending by international visitors is expected to surge by over 12% to nearly TND 11 billion, it will remain about 9% below the peak of 2019.
The reinstatement of the Higher Council of Tourism by the Tunisian government is anticipated to support achieving these projections by fostering cooperation between the public and private sectors.
Review of the Previous Year:
Recent studies indicate that last year, Travel & Tourism’s contribution to Tunisia’s GDP jumped by nearly 24% year-over-year, amounting to almost TND 21 billion.
Employment in this sector grew by nearly 10%, reaching over 402,000 jobs, which represented approximately 11.5% of the nation’s employment.
Domestic tourism spending increased by over 7% year-over-year, reaching above TND 11 billion.
While international tourism spending grew by an impressive 48.8% compared to the previous year, reaching TND 9.6 billion, it still fell nearly 19% short of the 2019 level.
Looking Ahead to the Next Decade:
With adequate governmental support, the WTTC projects that by 2034, the annual contribution of the sector to Tunisia’s GDP could exceed TND 32 billion, accounting for 16% of the economy, and potentially employ more than 485,000 people.
Regional Outlook:
In North Africa, the Travel & Tourism sector is expected to contribute TND 225.7 billion to the regional economy this year, representing 8.5% of the total economy. Jobs supported by the sector are set to rise to 5.3 million, which will account for one in every 11 jobs across the region.
Projected domestic and international visitor spending for the year are TND 97.5 billion and TND 101.9 billion, respectively.
