Rabat – Morocco’s government has approved an emergency plan worth MAD 2 billion ($216 million) to support the tourism industry.
Fatima-Zahra Ammor, Minister of Tourism, Handicrafts and social and solidarity economy, presented the emergency plan on January 14 before the Head of Government Aziz Akhannouch, Minister of Economy and Finance Nadia Fettah Alaoui, and the Minister Delegate for the Budget Fouzi Lekjaa.
The emergency plan aims to protect Moroccan businesses impacted by the COVID-19 pandemic, ensure the recovery of the sector, and help people in dire circumstances who have lost employment amid the ongoing health crisis.
The emergency plan includes five measures to boost the current situation of the tourism industry in Morocco.
The new measures include the extension of the payment of a lump sum compensation of MAD 2,000 ($216) during the first quarter of 2022, for all employees in the tourism sector, tourist carriers and classified restaurants.
The plan also involves the deferral of charges due to Morocco’s National Social Security Fund (CNSS) for six months for the abovementioned employees.
During the January 14 meeting, Ammor spoke of establishing a moratorium on bank maturities for a period of up to one year, for hoteliers and tourist carriers. Interim interest for this project will be paid by the state for a period equivalent to the months of non-activity in 2021, as well as the first quarter of 2022, she said.
Also in the plan, the government is responsible for covering the business tax due by hoteliers in 2020 and 2021, in addition to granting a state subsidy to the hotel sector, for an amount of MAD 1 billion ($108 million). The financial aid aims to support hotels’ investment in maintenance, renovation, training, etc. to restart operating again once the borders reopen.
These measures are the result of several preliminary meetings held between Ammor’s ministry and the National Confederation of Tourism (CNT), as well as discussions between the Ministry of Economy and Finance and the Professional Group of Banks of Morocco (GPBM), the ministry of tourism noted in a statement.
Tourism in Morocco was estimated to make an economic contribution of around $8 billion in 2021, according to data from Statistica.
Tourism share in the country’s GDP stood at 7% last year as the sector continued to experience heavy impacts due to COVID-19 and the travel ban imposed by the Moroccan government.
Morocco’s tourism revenues dropped by 58.1 % at the end of June 2021 to stand at MAD 8.8 billion ($978 million).
Read Also: SMIT to Invest $47 Million to Invigorate Moroccan Tourism Investment
