Tunisia’s tourism record increase in 2023

Tourism continues to play a vital role in Tunisia’s economy, with the latest data from the Central Bank of Tunisia (BCT) showing a significant increase in tourism revenues. As of April 20, 2023, tourism revenues reached 1.180 billion dinars, an increase of 60.3% compared to the same period last year. The surge in tourism receipts is a clear indication of a positive outlook for the country’s tourism industry.

Moreover, cumulative workers’ remittances increased by 7.3%, reaching 2.339 billion dinars compared to 2.093 billion dinars in April 2022. This increase is a positive sign for the country’s economy, as workers’ remittances play a crucial role in supporting household consumption and promoting economic growth.

On the other hand, external debt servicing decreased by 10.8%, reaching 2.6 billion dinars. This drop in debt servicing is a positive development for the country’s finances, as it will allow the government to redirect more resources towards development projects and other essential services.

However, the BCT also reported a decrease in net foreign exchange reserves, which stood at 22.1 billion dinars as of April 28, 2023. This is down from nearly 24.1 billion dinars on the same date in 2022, indicating a potential challenge for the country’s economy in the coming months.