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Home > Economy > Morocco to Invest Over $67 Million to Invigorate Tourism Sector in 2022

Morocco to Invest Over $67 Million to Invigorate Tourism Sector in 2022

Morocco will allocateMAD 616.66 million ($67.533 million) to revive its tourism sector in 2022, excluding staff expenses.

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Nov, 11, 2021
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Morocco to Invest Over $67 Million to Invigorate Tourism Sector in 2022

Morocco to Invest Over $67 Million to Invigorate Tourism Sector in 2022

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Rabat-  Morocco will allocateMAD 616.66 million ($67.533 million) to revive its tourism sector in 2022, excluding staff expenses. 

Minister of Tourism, Handicrafts and Social Economy, FatimaZahra Ammor, announced the news in Rabat on Tuesday, November 8, during a presentation of her ministry’s budget.

The department of tourism foresees an allocation of over MAD 107.67 million ($11.79 million) for the central administration in 2022, up to 72% compared to 2021.

“A budget of over MAD333.79 million is projected for the craft and social economy and solidarity next year, distributed on the operation MAD152.66 million [$16.719 million] and an investment of MAD181.13 million [$19.836 million ),” Ammor said.

The minister added that the credits allocated to the central administration amounts to MAD 230.24 million ($25.215 million).

Subventions to the Office for the Development of Cooperation (ODCO), Maison de l’Artisan, Chambers of Crafts and State services managed autonomously amount respectively to MAD 34 million , MAD 40 million, MAD 27.6 million, and MAD 1.95 million, Ammor highlighted.

Additionally, the minister’s presentation reviewed the driving lines of the 2022 action plan designed to support Morocco’s tourism sector.

The Moroccan National Tourism Office (ONMT) is initiating a new approach in its delegations abroad to revive Morocco’s tourism sector by establishing commercial and marketing strategies in the global tourism markets.

Morocco’s tourism sector continues to experience heavy impacts due to COVID-19. Tourism revenues dropped by 58.1 % at the end of June 2021 to stand at MAD 8.8 billion ($978 million).

The sector contributes substantially to both the annual GDP and the employment rate. Tourism represents 7% of Morocco’s GDP, and the country’s favorable weather and its proximity to the European continent have made it one of the most attractive and competitive destinations in Africa.

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