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Rabat – Morocco’s Tourism Ministry celebrated the launch of Cap Hospitality, a new support and financing mechanism aimed at accelerating the upgrading of the country’s classified tourist accommodation establishments.
Launched on Wednesday, the initiative is part of an agreement between the ministry, the Ministry delegated to the Budget, the Mohammed VI Fund for Investment, and the Moroccan Society of Tourist engineering.
The mechanism targets the upgrading of 25,000 rooms with an expected investment impact of up to MAD 4 billion ($402.8 million).
The initiative reflects Morocco’s commitment to boosting its tourism facilities and accommodation capacity amid the significant increase in tourist arrivals as well as in preparing for upcoming sporting events like AFCON 2025 and the 2030 World Cup.
Covering the period between 2024 and 2025, the program provides a loan where the government covers all interest costs for the upgrading of the accommodation facilities.
Loan amounts range from MAD 3 million ($302,145) to MAD 100 ($10 million), with a maturity of up to 12 years.
Commenting on the initiative, Minister of Tourism Fatim-Zahra Ammor stressed the need to accelerate investments in tourist accommodation, adding that this mechanism presents a unique opportunity to modernize facilities and improve services in the tourism industry.
Morocco has frequently emphasized the importance of the tourism industry, one of the key sectors contributing to the country’s economy.
Travel revenues reached MAD 31.87 billion ($3 billion) in the past four months, with nearly six million foreign tourists visiting Morocco by the end of May this year.
Last year, Morocco welcomed 14.5 million tourists, with the country hoping to increase this figure to over 15 million in 2024.
