Public Management

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

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

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.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
The Bank of Ghana created a steering committee and a technical committee to design a bank listing framework. Ghana’s pension fund assets exceed 100...
Proparco granted a CFA1.3 billion ($2 million) loan to VisionFund Senegal. Women represent 95% of VisionFund Senegal’s clients. VisionFund will use...
The UMOA Banking Commission sanctioned three banks in Côte d’Ivoire, Niger and Togo with disciplinary reprimands and fines. The regulator imposed...
Income tax threshold to rise to 30,000 shillings per month Government aims to ease cost-of-living pressures and boost household...
Most Read
01

Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...

Togo Microfinance: Deposits and Loans Rise Simultaneously in Q3 2025
02

Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...

Gulf of Guinea regains appeal as a key exploration hub for oil majors
03

MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...

MTN’s Talks to Buyout IHS: A Strategic Reversal That Could Reshape African Telecoms
04

Rwanda, partners break ground on $2 billion Kigali Innovation City Smart city targets ...

Rwanda Mobilises Global, Local Finance for $2Bln Innovation City Targeting Africa’s Digital Economy
05

The BCEAO granted Semoa a level-3 “full service” payment institution license on January 27, 2026...

Togolese Fintech Semoa Wins Full-Service BCEAO License
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.