German tour operator TUI AG announced a recovery in demand for holidays in North Africa as evidenced by the decline of its losses in the second quarter of this year.
“The situation in Tunisia is particularly encouraging, but we see some recovery in Egypt too,” CFO Horst Baier told analysts Thursday.
Tour operators such as TUI (TT.L) the largest in Europe, run by TUI AG and Thomas Cook (TCG.L), were hit hard last year, as European tourists turned their back on Tunisia and Egypt following their respective revolutions.
Tourists are now returning to Tunisia, although the figures are not likely to return to their levels before the Revolution, until next year, and even longer for Egypt.
