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Join on Telegram Rabat – Morocco has been placed at 113th among 188 countries in the latest 2024 World Citizenship Report from consultancy CS Global Partners.
The report, which evaluates countries based on five key motivators for high-net-worth individuals (HNWIs), provides a comprehensive look at how nations perform across various subindices including safety, economic opportunity, quality of life, global mobility, and financial freedom.
Morocco’s overall ranking reflects its performance in several specific areas. In the Safety and Security sub-index, the country ranked 107th, indicating moderate concerns among citizens and expatriates regarding personal safety and political stability.
The country ranked better in the Economic Opportunity subindex at the 95th place, reflecting reasonable prospects for business and economic growth.
Meanwhile, Morocco’s ranking in the Quality of Life index was less impressive. The country landed in 115th place, indicating challenges in healthcare, environmental sustainability, and competitive economy – factors increasingly important to global citizens.
Regarding Global Mobility, Morocco ranked 94th, indicating moderate ease of travel and migration for Moroccan citizens.
The country scored its highest ranking across any subindex in Financial Freedom at 88th place, reflecting relatively favorable conditions for financial and investment opportunities.
Noting the global trends, the report explains that Quality of Life emerged as a critical factor in the 2024 report, with 36% of HNWIs highlighting its importance when considering citizenship.
Top performers in this category include Monaco, Denmark, and Hong Kong, which excel due to their high standards of living and comprehensive social benefits.
Global trends indicate that issues such as healthcare, environmental sustainability, and economic competitiveness are crucial for improving quality of life. These factors have driven many HNWIs to seek citizenship in countries that better meet these needs.
The report’s insights align with broader economic and social trends observed in large countries like the United States, Canada, China, South Africa, and India. In these nations, socio-economic issues often become more pronounced during election years, influencing public sentiment and policy priorities.
The report notes a gradual reduction in living costs compared to the previous year. For instance, the UK saw a decrease in consumer price inflation to 3.2%, the lowest in two and a half years.
Likewise, India experienced a steady decline in inflation over recent months, while the U.S. saw inflation fall to around 3% in 2024, down from a peak of 9.1% in 2022.
Despite the economic improvements, quality of life considerations extend beyond mere financial metrics. Environmental sustainability, highlighted by agreements like COP-28 and climate resilience initiatives in regions such as the Caribbean, remains a crucial element.
Read Also: Report: Morocco Has Highest Quality of Life in Africa in 2023
