Morocco, a North African country in the Maghreb Region bordering the Atlantic Ocean and the Mediterranean Sea, a Kingdom boasting a rich cultural and historical heritage highlighted by its iconic imperial cities, such as Fez, Marrakech, Meknes and Rabat, known for their relevant historical significance, traditional architecture and vibrant medinas, dramatic landscapes with the scenic Atlas and Rif Mountains and the Sahara Desert, boasting a long coastline with stunning, pristine beaches, great food and much more was recognised as a privileged destination in the tourism sector according to a UN Tourism report.
UN Tourism, the United Nations World Tourism Organization, a specialized agency of the United Nations, which promotes responsible, sustainable and universally - accessible tourism headquartered in Madrid, Spain through the Secretary General, Zurab Pololikashvili, stressed that Morocco is consolidating itself as a leading destination for international investment in the tourism industry pointing out in the report "Investing in Morocco" the reasons why the North African Kingdom is a great opportunity for many investors.
The UN Tourism Secretary General highlighted that Morocco offers very attractive prospect for investment thanks to its strategical position, with its geographical proximity to Europe, a great access to a market of 2.5 billion consumers, its resilient economic environment and its proactive policy reflected in the flow of FDI, Foreign Direct Investment, which reached an average of $3.500 million per year during the last five years in all sectors combined and as well as its rich, cultural and natural heritage.
Moroccan tourism sector has benefited from a cumulative investment of $2.200 million between 2014 and 2023, while the development of hotel infrastructure mobilized a total of $2.600 million between 2015 and 2024, a data which undoubtedly confirm how Morocco is a leading country in the African Continent and also on the international landscape for investment.
In addition UN Tourism pointed out that in 2024 Morocco received 17.4 million tourists, which means an increase of 35% compared to 2019 data, allowing the sector to almost double its contribution to GDP, from 3.7% in 2020 to 7.3% in 2023.
These successful high performances due to strategic plans focus on improvements in the infrstructures, developments and openings of new hotels and resorts increasing the capacity in the hospitality industry, a diversification of the tourist offer with new proposals in destination less known promoting different types of tourism next to the consolidation of the traditional tourism incoming activities linked to historical, cultural tours and city breaks in the Imperial cities.
Relevant part of this success is the ambitious 2030 Agenda for Sustainable Development Morocco embraced integrating 17 SDGs, Sustainable Development Goals into national strategies and policies, with a focus on areas like sustainable development, digital transformation and inclusive growth.
Likewise, UN Tourism indicates that Morocco stood out as the African destination that registered the highest increase in tourism revenues, with a growth of 43% compared to 2019, and these reached $10.5 billion in 2023, representing a 28% increase from the previous year making it a very priviliged destination for investors.
The UN Tourism Executive Director Natalia Bayona, highlighted Morocco's economic dynamics, specifying that the Kingdom has establidhed itself as Africa's fifth power in terms of GDP, with an average growth of 2.5% in the last decade.
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Thanks a lot to read and note.