Rabat – Spanish consulting firm Bloom Consulting has ranked Morocco as one the best places for investors and tourists interested in Africa, with the firm ranking the North African kingdom as the continent’s third most attractive destination for tourism and the fourth best country for trade on the African continent.
Bloom Consulting has published its 2022-2023 Country Brand Rankings for tourism and trade, featuring a total of 80 countries worldwide. The tourism ranking examines the participating countries’ economic performance, digital appeal, online performance and presence, as well as the Country Brand Strategy (CBS).
With a “BBB” Country Brand Ranking (CBS), Morocco ranked 43rd worldwide in tourism. Meanwhile, Egypt led the continent as the most attractive country for tourism, while it ranked 25th worldwide.
“Egypt shows serious determination, coming in at number 25 in the ranking,” indicated the report, saying that the country “has shown great strength in overcoming internal challenges and social unrest.”
South Africa followed in third place at the continental level and ranked 41st worldwide, while Mauritius and Tanzania came in fourth and fifth place, respectively.
Morocco came in fourth place in Bloom Consulting’s Country Brand Ranking for trade, with an “A” CBS Rating. The North African country ranked 50th worldwide.
Egypt followed in fifth place, down by two places compared to last year’s ranking. The report did not attribute the ranking to underperformance on the part of Egypt’s indicators, but to Morocco’s efficient policies to attract foreign investment.
Read also: Foreign Direct Investment in Morocco Resists Pandemic Effects
“Morocco just soared, having launched an economic modernization program in 2020 with the intent of attracting foreign investment,” explained the report.
Meanwhile, Nigeria led the African continent in trade (36th worldwide), followed by South Africa in second place (39 worldwide).
The ranking was based on five variables, including attraction of investment, tourism and talent, as well as the countries’ strengthening of prominence (Increase of Public Diplomacy effort) and exports.
Morocco’s tourism and trade sectors have suffered heavily during the past couple of years due to the COVID-19 pandemic, but the country launched a series of measures to help go back to pre-pandemic records.
“The tourism sector has shown good resilience and managed to resume its pre-COVID performance, thanks to a series of initiatives launched by the government to put tourist activity back on track with its achievements in the past,” the Moroccan Minister of Tourism Fatim Zahra Ammor said last month.
Meanwhile, the Moroccan central bank, Bank Al-Maghrib, indicated in August 2022 that the flow of Foreign Direct Investments (FDI) in Morocco recorded a strong post-pandemic recovery, totaling $1.647 billion at the end of 2021.
