Tourism Record tourism numbers expected in Tunisia By Chris Hamill-Stewart December 4, 2024, 3:55 PM Discover Tunisia Tourism is crucial to the Tunisian economy, contributing 9% of GDP and employing 400,000 people 10m visitors due in 2024 Revenue already past $2.2bn Tourism now 9% of economy Tunisia expects to break its all-time record for tourism numbers in 2024, with more than 10 million visitors. The number of incoming tourists so far this year is approximately 9.9 million, with the National Tourism Office expecting that the figure will pass 10 million by December 31. That would mark a record high in tourism numbers for Tunisia. Tunisia’s tourism revenue from the beginning of the year until the end of November topped TND6.94 billion ($2.2 billion), marginally higher than the TND6.7 billion reported at the same time last year. Tunisia’s tough decisions: to reform or face debt default Algeria must forge its own identity to hit tourism targets Tunisia pays off all 2023 debt Tourism is crucial to the Tunisian economy, contributing 9 percent of GDP and employing 400,000 people. Tunisia was beginning to recover from the impact on tourism numbers of terrorist attacks in 2015 when Covid-19 struck. The war in Ukraine has also pushed up food prices in the country. Gross domestic product (GDP) fell by 1.5 percent in real terms between 2019 and 2023. While growth is back, with GDP up 1.8 percent in Q3 2024, Tunisia still has a debt load equal to roughly 80 percent of its annual GDP. It must pay off 9 billion dinars in debts in the first quarter of 2025, including 5.1 billion dinars in foreign debt. On Tuesday, the government borrowed an additional $2.2 billion from the central bank to help it repay debts next year. This marks the second instance in a year of the government tapping the central bank for funds.
Real Estate ‘Safe’ Sharjah attracts Kuwaiti investors to $950m project The emirate of Sharjah has been praised as “safe and business-friendly” by a Kuwaiti developer who has formed a partnership to develop a AED3.5 billion ($950 million) housing project in its burgeoning local property market. Talal Al-Bahar, vice-chairman and CEO of Kuwait Real Estate Company (Aqarat), said that investors were attracted to Sharjah because of […] 22 hours ago
Tech KKR signs a $5bn Gulf data centre deal in Dubai KKR, the American investment giant, and the data centre platform Gulf Data Hub (GDH), based in Dubai, have signed a strategic partnership to invest $5 billion in data centres serving the Gulf. A joint press release on Friday said that funds “affiliated with KKR” will also acquire a stake in GDH, although it did not […] 1 day ago
Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] 1 day ago
Manufacturing China’s Geely opens Mena’s first car assembly plant in Egypt China’s Geely Auto has opened its first car assembly plant in the Middle East and North Africa near the Egyptian capital to produce 10,000 vehicles per year for the domestic market and up to 30,000 for export. Cairo-based Auto Mobility company (Geely Egypt), said it has invested around $100 million in the new car assembly […] 1 day ago