TUNISIA - Remittances from the diaspora hit records

18/11/2017
Source: Kapitalis
Country: Tunisia
Activity: Other or not specified

As highlighted in the recent IMF report "World Economic Outlook 2017", the implication of the Tunisian diaspora has constantly been rising since the revolution, and is boosting the economy. 


Intakes from diaspora's transfers is indeed very significant: in the year 2016, 2.5 billions of dollars have been recorded as transfers from the diaspora, which represents approximately 10% of the GDP. This figure is five times superior than the amount of international development aid, three times superior than FDIs (Foreign Direct Investments) and than annual revenues from the tourism industry. According to the results of an econometrics research report to be published in December, the rise of transfers - partly explained by the depreciation of the dinar - has significantly helped the Tunisian economy to absorb the shocks of the revolution and of the economic transition.

 

This rise illustrates the retention of tight links between Tunisian emigrants and expatriates with their home country. It also calls for an awareness from public authorities. Facilitation and securitisation of transfers, reinforcment of ties with descendants from second and third generations... The goverment has several levers to maintain this dynamic.

 

In 2012, the Tunisian diaspora represented around 11.3% of the population, which is 1 223 213 people. Mainly concentrated in Europe (84.5%), it seems like the diaspora is also inclined to get involved beyond financial aspects.

 

More information: Kapitalis.

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