Fez – Moroccans’ international travel expenditures have increased by 23.4% in comparison to 2022, according to a recent Foreign Exchange Office’s report on foreign exchange indicators.
Expenditures for Moroccans traveling abroad jumped to MAD 23.76 billion ($2.37 billion) at the end of last year, increasing by about MAD 4.5 billion ($0.45 billion), compared to the year before.
These expenses exceeded the level they reached before the pandemic, with only MAD 20.9 billion ($2.09 billion) in 2019.
Due to the pandemic, the travel expenses of Moroccans traveling abroad declined to MAD 10.5 billion ($1.05 billion) in 2020 and MAD 10.8 billion ($1.08 billion) in 2021, before recovering to reach MAD 19.25 billion ($1.92 billion) in 2022.
Travel expenses include the money that Moroccans direct for tourism, Hajj, Umrah, studies, training, missions, and medical treatments outside the Kingdom.
In January 2021, the Exchange Office increased the maximum amount of foreign currency Moroccan citizens could carry when traveling abroad to MAD 100,000 (nearly $10,000) annually, previously capped at MAD 45,000 ($4,500).
This limit can go as high as MAD 300,000 ($30,000) under specific circumstances, offering Moroccans flexibility during personal trips abroad, whether for leisure, medical treatment, or pilgrimage.
Tourism revenues last year jumped to MAD 104.6 billion ($10.46 billion), recording an increase of 11.7%, after the number of tourists who visited Morocco reached 14.6 million. The Moroccan tourism office said that French tourists account for more than a third of arrivals or 33.6%.
The number reflects the country’s overall ambition, aiming to reach 17 million visitors by 2026.
Read also: Morocco’s Diaspora Remittances Reached $4.5 Billion in May
