Tunisia’s tourism revenues up 19 percent this year as more Europeans return

Tourists poses for picture in downtown Tunis

Tourists poses for picture in downtown Tunis, Tunisia, August 4, 2017. Photo: Zoubeir Souissi

Tunisia’s tourism revenues have risen 19 percent so far this year, reflecting a recovery in a vital sector crippled two years ago by attacks on foreign holidaymakers.

Tourism Minister Salma Loumi said 4.58 million foreign tourists visited the North African country between Jan. 1 and Aug. 10. Arrivals from neighbouring Algeria were up 60 percent, helped by a promotional campaign by Tunisia, while visits by European tourists rose 16 percent.

“There are good indicators, revenues rose by 19 percent to 1.5 billion Tunisian dinars ($613 million)”, Loumi told reporters on Tuesday.

Tunisian officials expect the number of foreign tourists to rise to 6.5 million this year, up about 30 percent from 2016, due to an improving security situation and interest from new markets including Russia.

That would mark a return to normal, although below a record 6.9 million visitors seen in 2010.

Tourism accounts for about 8 percent of Tunisia’s gross domestic product, provides thousands of jobs and is a key source of foreign currency, but it has struggled since two major attacks in 2015.

The first at the Bardo National Museum in Tunis left 21 tourists dead, while 39 mostly British holidaymakers were killed in the second attack on a beach in the resort city of Sousse.

Last month, however, Britain’s foreign office said it was no longer advising against travel to most of the North African country including the capital Tunis and major tourist destinations.

Tour operator Thomas Cook has said it will resume offering holidays in Tunisia following the change.

Tunisia’s tourism ministry said it expected the company to start offering flights to Tunisia from February 2018.

The government expects rising tourism to help Tunisia’s economy grow 2.5 percent this year, after a 1 percent expansion last year.

 

Originally published by Reuters.

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Egypt’s Suez Canal revenue $853.7 million in April and March: statement

FILE PHOTO: A cargo ship is seen crossing through the New Suez Canal

A cargo ship is seen crossing through the New Suez Canal, Ismailia, Egypt, July 25, 2015. REUTERS/Stringer/File Photo

Egypt’s revenue from the Suez Canal was $853.7 million in April and March, 4.1 percent higher than the same period a year earlier, the Suez Canal Authority said in a statement on Wednesday.

The statement did not give a breakdown for April but Suez Canal Authority Chairman Mohab Mameesh said on March 31 that revenues came to $423.9 million in March.

Officials from the authority were not available for comment.

The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.

Egypt has been struggling to revive its economy since a 2011 uprising scared away many tourists and foreign investors, key sources of hard currency.

Originally published by Reuters.

Remember, no problem has a quick fix solution. Thus, always ensure to consult highly knowledgeable group of professionals whom would provide you with a collective advice, never individual advice. This group advice and approach is unique with CWIIL Group and is based on the overall Management Philosophy of all CWIIL Group Companies.

Consulting CWIIL Group of Companies, for any / all investment matters ensures advice based on highest level of knowledge which are given to you by a team of select research-oriented experts whom each will do their own assessment of your matter, and also assess it together, thus ensuring that in case a mistake has been made by one, it will be noticed and corrected even before it is being passed on to you. Receiving incorrect and un-knowledgeable investment advice can be disastrous and thus should be avoided.

CWIIL Group of Companies is a global group of multi-specialised units with diversified interests and activities, wherein each company is a separate legal entity registered under prevailing laws in different parts of the world. CWIIL Group of Companies Products, Services, Project and Solutions are in a multitude of Verticals including, but not limited to, Infrastructure, Power, Oil & Gas, Legal, Media, Technology, ITES, HR, Shipping, Aviation, Real Estate, Hospitals, Health and Medicine, Education, Funding & Investment, Business and Legal Consultancy, and Public Private Partnerships, and other CWIIL Group Units, worldwide, to name a few.

For Further Queries Feel Free to Contact :

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Strategic Business & Intelligence Division,
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Connect : LinkedIn – Twitter – Facebook – Quora

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