Rabat – A report of the United Nations World Tourism Organization (UNWTO), has declared Morocco an exceptional destination for investors in the tourism sector.
The report, released Saturday by the Madrid-based UN agency, detailed the North African country’s tourism assets that are draws for not only visitors worldwide but also investors.
The Secretary-General of the UNWTO, Zurab Pololikashvili, said in the report that “Morocco offers highly attractive prospects for investors, thanks to its strategic geographic location, robust economic environment, and ambitious policy to promote foreign direct investment.”
The country’s appeal to investors is reflected in its foreign direct investment (FDI) flows, standing at an average $3.5 billion annually over the past five years across various sectors.
Accumulated investments in the tourism industry reached $2.2 billion between 2014 and 2023, while investments in hotel infrastructure development recorded $2.6 billion between 2015 and 2024.
Morocco’s tourism saw an impressive growth in 2024, bringing in a total 17.4 million tourists, a 35% increase compared to 2019.
This boost has doubled the sector’s contribution to GDP, rising from 3.7% in 2020 to 7.3% in 2023.
The UN report adds that Morocco attracts investors in the tourism industry for a multitude of reasons, among them being its geographic proximity to Europe, access to a market of 2.5 billion consumers, and rich cultural and natural heritage.
The North African country also boasts nine UNESCO World Heritage sites, 11 national parks, and advanced infrastructure comprising 19 airports, 27 commercial ports, and 2,000 kilometers of highways.
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The UN body further noted that Morocco sets itself aside as the African destination with the highest growth in tourism revenues, recording a 43% increase compared to 2019. Total revenue reached $10.5 billion in 2023, representing a 28% increase over the same year.
Executive Director of UNWTO Natalia Bayona commended Morocco’s financial state, noting that the country has established itself as Africa’s fifth-largest economy by GDP, with an annual growth rate of 2.5% over the past decade.
The report predicts economic growth to reach 4% in 2025 and 3.6% in 2026, with controlled inflation enhancing the North African country’s competitiveness as a stable and attractive place for investment.
Morocco’s tourism sector has also seen an increase in accommodation capacity of over 60% since 2012. The country’s position as an attractive destination for investors has been further solidified by the ongoing support of the Moroccan Tourism Engineering Company, which provides specialized assistance to investment project leaders.
