Morocco plans more investment into Tourism
Tourism is an essential sector of the Moroccan economy, contributing significantly to the country’s GDP and employment. In 2019, the tourism industry accounted for 7.2% of Morocco’s GDP and provided employment to about 2.5 million people. Yet, Morocco plans more investment into Tourism to compete against regional competitors.
Furthermore, tourism is one of Morocco’s primary sources of foreign exchange earnings, as it generates significant revenue through the expenditure of tourists on accommodation, food, transportation, and other tourism-related services. According to the Moroccan Ministry of Tourism, the tourism industry’s revenue was 78.6 billion dirhams in 2019, representing a 5.2% increase compared to the previous year.
The Moroccan government has been actively promoting the development of the tourism industry by investing in infrastructure, marketing, and human resources. The recent plan to invest 6.1 billion dirhams ($580 million) up to 2026 in the tourism sector is a testament to the government’s commitment to the industry’s growth and its role in supporting the country’s economic development.
According to the government, Morocco has announced a plan to invest 6.1 billion dirhams ($580 million) in developing its tourism industry up until 2026. The objective is to increase the number of visitors and generate foreign currency. As per the prime minister’s office, the government plans to allocate more funds to market the sector, introduce new tourist attractions, upgrade existing hotels, build new ones, and enhance the skills of the workforce.
The goal is to attract 17.5 million tourists by 2026, which is a significant increase from 11 million in the previous year. In 2019, Morocco had welcomed 13 million visitors. The government aims to create 200,000 new job opportunities in the sector over the next four years.
In 2021, the tourism industry’s revenue in Morocco had more than doubled compared to the previous year, amounting to 91 billion dirhams, surpassing the levels recorded in 2019.
