Tunisia: The price of revolt

There's been plenty of coverage so far this year of the revolts spreading throughout the Middle East and North Africa.

As the first domino to fall, Tunisia has rightfully received its fair share of attention, particularly on the political implications.

But as the sand continues to settle in this popular North African tourism desitination, there's been a severe economic cost, as well.

That's the focus of this great GlobalPost Aida Alami piece from Hammamet.

In it, Aida details the economic pain caused by unrest in Tunisia, from a steep decline in tourism revenue, to the longer-term economic implications of slower tourism.

Here are some of the economic lowlights:

• The number of tourists in Tunisia dropped 40 percent in January
• Only 54 percent of French who planned trips to Tunisa this year have kept their bookings
• Fitch Ratings cut its 2011 growth forecast from 5 percent to 2 percent, citing Tunisia's steep drop in tourism, which brings in $2.5 billion a year (more than 6 percent of the country's total GDP)

Tourism employs some 400,000 Tunisians. And they are hurting.

“I haven't sold a thing in weeks,” Jihad, a young man who works in a clothing shop, told Aida. “There are very few tourists here and they don't leave their resort out of fear.”

But others remain more hopeful.

“Currently, we mostly have Tunisian guests — February has been extremely slow,” said Walid Rakez, the assistant general manager of the hotel. “It's picking up slowly. I am very optimistic. People who want to discover the new free Tunisia will come in great numbers. I think we're going to see more of cultural tourism.”

And according to Aida, most still believe that freedom, no matter the cost, is worth it:

“As the old expression goes: 'Dignity before bread,'” said Mohammed, a hotel reception manager on the southern island of Jerba, the other major tourist destination in Tunisia. “People are happy to be able to speak, to be free.”

Of course, in economics every downside produces a potential upside.

As Joanna Kakissis reports from Athens, the unrest in the Middle East and North Africa is leading to a rebound in tourism for Greece, Portugal and Spain.

Debt crises, apparently, are less frightenting than revolution.