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Morocco to invest $580 mln to revive the tourism industry by 2026

Monday, 20 March 2023 19:08
Morocco to invest $580 mln to revive the tourism industry by 2026

(Ecofin Agency) - In 2020, tourism contributed 7% to Morocco’s GDP but since then, arrivals are still below the 2019 level due notably to the impacts of the coronavirus pandemic. To revive the sector, authorities are considering structural reforms. 

Morocco will invest $580 million, by 2026, to revive its tourism sector, attract more visitors and boost foreign reserves. The announcement was made by the government last Friday.

Authorities plan to overhaul the sector's marketing plan, create more tourist attractions, modernize existing hotels and build new ones, and also train more tourist professionals.  The announced reforms aim at attracting nearly 17.5 million visitors, creating 20,000 new direct and indirect jobs, and generating 120 billion dirhams [nearly $12 billion] by 2026.

Morocco is one of the most popular tourist destinations in North Africa. However, the coronavirus pandemic dealt a blow to its tourism industry. With the pandemic over, the government wants to take advantage of the country’s international exposure --following the 2022 World Cup and its recent bid to co-host the 2030 World Cup-- to promote the Moroccan destination. 

According to the Ministry of Tourism, in 2022 the country attracted 11 million tourists, representing 84% of the number of visitors attracted in 2019.  At the same time, tourist revenues reached 91.3 billion dirhams, which is 116% of the 79 billion dirhams it generated in 2019. In 2020, the industry contributed 7% to Morocco’s GDP.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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