Rabat – Financial transfers from Moroccans living abroad (MREs) exceeded MAD 103 billion ($10.5 billion) during the first nine months of 2026, marking a significant increase compared with the same period last year, according to the latest figures from Morocco’s Foreign Exchange Office.
The transfers reached MAD 103.06 billion ($10.5 billion) by the end of September, compared with MAD 92.63 billion ($9.44 billion) during the corresponding period in 2025. This represents an annual increase of 11.3%, equivalent to an additional MAD 10.43 billion ($1 billion), according to provisional data published by the Office on October 30.
The figures highlight the continued importance of the Moroccan diaspora to the national economy, particularly through financial support sent to relatives and investments made in the country.
Why MRE transfers matter to Morocco
Remittances represent one of Morocco’s most important sources of foreign currency. Beyond their contribution to the country’s external financial position, these transfers provide direct financial support to thousands of households.
Many Moroccans living abroad regularly send money to family members in Morocco to help cover everyday expenses, including housing, education, healthcare, and other household needs.
These financial flows also contribute to domestic consumption, as recipient families use part of the money to purchase goods and services. Some transfers also support property purchases, real estate projects, and small business activities.
The International Monetary Fund (IMF) highlighted the strategic importance of these revenues in its 2026 assessment of the Moroccan economy.
According to the institution, remittances represented approximately 7.2% of Morocco’s gross domestic product (GDP) in 2025, underlining their weight in the country’s economic activity.
The IMF also noted that Europe accounted for approximately two-thirds of these transfers, while Gulf Cooperation Council (GCC) countries contributed less than 20%.
This distribution reflects the importance of the large Moroccan communities established in European countries, particularly France, Spain, Italy, Belgium, and the Netherlands.
The transfers also help strengthen Morocco’s external financial position by bringing foreign currency into the country, supporting its ability to finance imports and meet international payment obligations.
Tourism revenues also exceed MAD 115 billion
The increase in diaspora transfers comes alongside strong growth in Morocco’s tourism revenues, another major source of foreign currency.
According to the same Foreign Exchange Office bulletin, travel receipts reached approximately MAD 115.26 billion ($11.7 billion) by the end of September 2026, representing a 12.1% increase compared with the same period last year.
Meanwhile, travel-related expenditure reached MAD 26.96 billion ($2.7 billion), up 8% year-on-year.
As a result, Morocco recorded a travel balance surplus of approximately MAD 88.3 billion ($9 billion), marking an improvement of 13.4% compared with the first nine months of 2025.
The increase in tourism revenues reflects the continued expansion of the country’s tourism sector and its ability to attract international visitors.
Morocco welcomed approximately 15.7 million tourists between January and September 2026, a 5% increase compared with the same period in 2025, according to figures reported by Le360.
Together, tourism receipts and diaspora transfers represent substantial sources of foreign currency for Morocco. Their continued growth helps support the country’s external accounts and reinforces the economic importance of both international tourism and the Moroccan community abroad.
The latest figures also highlight the role of the diaspora beyond its social and cultural ties with Morocco, showing how financial contributions from Moroccans abroad remain an important pillar of the national economy.
