Tunisia's Service Sector Sees Significant Growth in Q1 2024

According to data from the Agency for the Promotion of Industry and Innovation (APII), Tunisia's service sector has experienced significant growth in the first quarter of 2024, with notable increases in investments and job creation.

Investments and Job Creation on the Rise

Declared investments in the sector have increased by 63.4%, reaching 313.1 million dinars. The number of declared projects has also risen by 34%, from 2547 to 3413, resulting in the creation of 9830 new jobs. This represents a 19.4% increase in employment in the sector.

Breakdown of Investments and Job Creation

• Investments in export-oriented services totaled 8.6 million dinars, with 408 projects and 1068 jobs created.
• Investments in services for the local market reached 304.5 million dinars, financing 3005 projects and generating 8762 new jobs.

Local Investments Dominate the Sector

Local investments in the service sector accounted for 91% of the total, amounting to 285.8 million dinars, a 62.2% increase compared to the previous year. This growth has stimulated a 34.4% increase in declared projects, reaching 2998 projects, and the creation of 8397 jobs, a 23.2% increase.

Foreign Investment on the Rise

Projects involving foreign investors totaled 415, with a total investment of 27.3 million dinars, marking a 76.1% increase. These international initiatives have also contributed to the creation of 1433 jobs, highlighting the growing interest of foreign investors in Tunisia's service sector.