Tourism is the second-largest contributor to Morocco’s economy, accounting for 11% of GDP.
Rabat – If Morocco does not urgently mobilize a plan to save its tourism sector, the country will lose over MAD 138 billion ($13.85 billion) between 2020 and 2022 due to the COVID-19 crisis, revealed a study by the National Tourism Confederation (CNT).
In a report issued today, April 22, the confederation suggested a recovery plan for Moroccan tourism that would require a MAD 1.7 billion ($170.6 million) investment.
Morocco’s tourism industry has completely suspended all activity since mid-March, when the country decided to close all international air, land, and maritime routes.
The CNT predicts the current situation will continue until December 2020 and tourism will start recovering gradually by April 2021.
The organization also forecast a significant decline in Morocco’s foreign currency reserves due to the crisis, unless the country reacts quickly and implements proactive measures.
The CNT suggested a recovery plan revolving around three main axes: Maintaining the production chain, maintaining jobs, and maintaining competitiveness.
The plan aims to preserve Morocco’s touristic ecosystem by helping tourist accommodations minimize their costs to avoid bankruptcy, and to preserve the country’s skilled manpower in the tourism sector.
Finally, the strategy suggests allocating a budget to promote Morocco’s attractiveness and help the country preserve its competitiveness in the global tourism market.
The plan’s required budget of MAD 1.7 billion includes MAD 1.2 billion ($120.4 million) to preserve Moroccan tourism and MAD 500 million ($50.2 million) to reposition it on the global market.
According to the CNT’s prediction, the plan could help reduce the sector’s losses by over MAD 46 billion ($4.61 billion) in the coming two years.
Tourism is the second-largest contributor to Morocco’s economy, accounting for 11% of GDP. Supporting the sector is, therefore, of crucial importance.
In March alone, Morocco lost 100,000 tourists due to the fears from COVID-19 and the suspension of international flights.
While nearly 13 million tourists visited Morocco in 2019, CFG Bank predicted earlier this month a 39% loss of at least five million tourists in 2020.
