As part of its mission to promote investment in Tunisia’s sustainable tourism industry, USAID Visit Tunisia’s partner CrossBoundary signed initial transaction advisory agreements with two Tunisian tourism companies/initiatives – Green Hill, Tunisia’s first luxury green hotel, and Tunistoric, a renovation project in the medina of Tunis.
As per the agreements, CrossBoundary, a global investment advisory firm that has advised on $800 million of closed transactions in underserved areas across the world, will provide the companies with comprehensive fundraising assistance. This may include support with marketing documentation, financial modeling, market research, feasibility studies, investor matching, or structuring/negotiating deals with potential investors.
USAID Visit Tunisia/CrossBoundary selected Green Hill and Tunistoric for support out of a pool of 88 applicants based on their commercial sustainability, investment potential, impact on alternative tourism, and potential for job-creation, particularly for women and youth.
Both Green Hill and Tunistoric are innovative tourism projects with strong commercial potential that will preserve Tunisia’s cultural or natural heritage and expand tourism revenue/jobs.
Green Hill , around the corner from the small north-western town of Beni Mtir, Ain Draham, is a high-end eco-hotel with 12 cabin-themed rooms and 18 chalets overlooking the region’s lush forests. Its spa center uses water sourced from one of the world’s hottest natural springs, Hammam Salhine, known for its therapeutic properties.
Green Hill is known for its high-quality thermal spa services.
Tunistoric is a project based in the Tunis medina that transforms old properties into modern attractions such as guesthouses, restaurants, and cafes, and renovates sites with cultural, historic, and touristic value. Its activities not only attract more visitors to the Tunis medina, but create direct and indirect sustainable tourism jobs.
Over the next three months, CrossBoundary aims to onboard two to three new companies to provide investment facilitation support to. Throughout the USAID Visit Tunisia project, it will support at least 12 tourism companies and projects as part of its efforts to mobilize more than $20 million of commercial credit and investment into Tunisia’s sustainable tourism sector.
USAID Visit Tunisia/CrossBoundary will continue to accept and evaluate expressions of interest (EOIs) from tourism businesses, projects, or investors on a rolling basis. Interested applicants should check USAID Visit Tunisia’s website for details on the program, eligibility criteria, and the application process.
