Tourism Morocco on course for record-breaking tourism year Morocco is on track to break its record for international visitors after reporting a 13 percent increase in the first seven months of the year. Overnight stays in the North African country passed 15.35 million from January through to July, which was up 8 percent year on year. International tourism accounted for 10.9 million of […] September 24, 2024
Analysis Agriculture Legal cannabis offers Morocco a route into Europe The King of Morocco, Mohammed Vl, has taken the unprecedented step of pardoning more than 4,800 illegal cannabis farmers in the north of his country. Mohammed El Guerrouj, the head of the National Agency for the Regulation of Cannabis-Related Activities (Anrac), said the decision was made to encourage farmers to grow cannabis legally and to […] September 20, 2024
Economy Moroccan company gets $108m to tackle water scarcity A new €100 million ($108 million) loan from a World Bank unit will help Morocco tackle water scarcity, which has been hindering economic growth. The loan is being provided through the International Facility Corporation (IFC) to Casablanca-based OCP Group, a producer of plant nutrition solutions and phosphate-based fertilisers. It will fund the construction of a […] September 17, 2024
Analysis Economy One year on, Atlas earthquake still highlights Morocco’s divide Last Sunday marked one year since a devastating earthquake hit Morocco, flattening entire villages in the Atlas Mountains and killing around three thousand people. Within a week of the disaster, the country’s deadliest earthquake in 63 years, King Mohammed VI pledged MAD120 billion ($11.6 billion) over five years for reconstruction of the area. That included […] September 9, 2024
Analysis Business of Sport Morocco makes 2030 World Cup a focus for investment The artist’s impression shows a massive polygonal structure, with an aluminium lattice roof draped in floating cream sheets. This is the Grand Stade Hassan II de Casablanca at Benslimane, north of Morocco’s commercial capital. The successful design was unveiled earlier this week by the winning architects, the Casablanca-based Oualalou + Choi and the arena specialist […] August 25, 2024
ANALYSIS Industry Made in Morocco – industrial giants just keep on investing Rabat's deals with manufacturers from the US, Europe and Asia provide a model of co-operation for the Arab world July 30, 2024
Analysis Finance Morocco to beat 4% economy growth forecast for 2025 Morocco’s economy is expected to surpass the government’s medium-term growth forecast of 4 percent next year, finance minister Nadia Fettah Alaoui has said. GDP is projected to reach 4.6 percent in 2025 from 3.3 percent in 2024, driven by economic recovery worldwide, Morocco World News reported quoting the minister. The government had set a growth […] July 28, 2024
Employment Aviation workforce in Morocco to double by 2030 Morocco has announced plans to provide employment for young people by doubling the number of people employed in the country’s aviation sector by 2030. The aerospace industry in Morocco currently includes some 142 companies, employing a workforce of 17,000, and has an annual turnover in the region of $2 billion in exports. Ryad Mezzour, the […] July 24, 2024
Development Morocco to get $657m from African Development Bank Four financing agreements worth MAD6.45 billion ($657 million) and covering areas from forestation to a new university have been signed between Morocco and the African Development Bank. The Guercif-Nador highway project, which will connect the new Nador West Med port to Morocco’s existing road network, will receive MAD2.14 billion in AfDB funding. The highway is […] July 22, 2024
Analysis Sustainability Morocco lures manufacturers to avoid EU carbon taxes Morocco is looking at investing in carbon dioxide capture and storage to attract manufacturers to the country who want to avoid the EU’s upcoming carbon tax on imports. The European Union’s Carbon Border Adjustment Mechanism (CBAM), which will come into effect in 2026, will tax imports of goods such as steel, cement and fertilisers into […] July 22, 2024
Tourism Morocco’s medinas given $800m facelift to lure tourists The kingdom hopes its old cities, with their alleyways and history, will attract more travellers July 21, 2024
Leisure & Hospitality Morocco nears 2024 tourism target as numbers surge 14% Morocco has almost achieved 50 percent of its tourism target for 2024, according to a news report. The country received 7.4 million tourists in the first six months of 2024, an increase of 14 percent year on year, Morocco World News reported, citing tourism ministry data. The annual target has been set at 15 million. […] July 15, 2024
Analysis Agriculture Balancing the scales of Morocco’s food exports Free trade access to the EU and UK markets, and a longer – or at least different – growing season mean that Moroccan farmers are producing bumper exports that are helping to reshape the country’s economy around agriculture. However, those exports are drawing criticism from those who believe the country should prioritise its citizens’ own […] July 11, 2024
Opinion Economy Macron gambled and lost. Now bond markets will have their say The election result puts France on a collision course with global capital markets and the EU July 9, 2024
Analysis Trade The changing face of Morocco-Spain relations For decades now, the start of the European school summer holidays has been the time when thousands of Moroccans living in Europe pile into their cars and head south. This summer is no exception. Around 6 million car-loads of Moroccans resident abroad (MREs) travel back and forth across the Strait of Gibraltar during this annual, […] July 8, 2024
Finance FDI into Morocco up 20% after business-friendly reforms Foreign direct investment into Morocco was up by almost one-fifth year on year through to the end of May 2024, a rise attributed to business-friendly government reforms. Morocco attracted MAD16.1 billion ($1.6 billion) in FDI over the period, believed to be the second highest level in the history of the national economy, according to government […] July 8, 2024
Tech UAE telco e& loses appeal in Moroccan antitrust case UAE telco e& (formerly Etisalat) has lost its appeal against an anti-competitive practices compensation payment in a Moroccan court. Maroc Telecom, which is 53 percent owned by e&, is now required to pay AED2.3 billion ($626 million) to Casablanca’s Wana Corporate (Inwi). It was first ordered to pay the compensation by the Commercial Court of […] July 4, 2024
Aviation Morocco to double airport capacity by 2035 Morocco is aiming to double the capacity of its airports by 2035 as part of its efforts to host the Fifa World Cup. The country’s airports serve up to 40 million passengers, and Mohamed Abdeljalil, minister of transport and logistics, has revealed he wants that to rise to 80 million in just over 10 years. […] July 4, 2024
Trade Trade flourishes between Israel and Arab states Israel’s trade with Middle Eastern countries including Egypt, Morocco and Bahrain grew in the year to the end of May despite regional tensions and the Gaza war, a think tank report has revealed. The figures, compiled by the Abraham Accords Peace Institute (AAPI), rely on data from Israel’s Central Bureau of Statistics. Israel’s trade with […] July 2, 2024
Analysis Infrastructure Morocco struggles to solve its water crisis A seawater desalination plant that opened last month at Sidi Rahal near Casablanca is a major part of Morocco’s plans to tackle the country’s frightening decrease in water supplies. The plant will be built in two phases and is designed to produce 300 million cubic metres of water a year to supply 7.5 million people, […] July 1, 2024
Economy Morocco lowers interest rate as inflation falls Morocco’s central bank has reduced its benchmark interest rate to 2.75 percent, down 25 basis points – the first change in almost a year – amid falling inflation. Inflation stood at 6.6 percent in 2022 and 6.1 percent in 2023 but has returned to low levels, averaging 2.1 percent over the first five months of […] June 26, 2024
Manufacturing China picks Morocco for Europe’s EV battery supply China is intent on establishing a battery supply chain for the European electric vehicle (EV) market in Morocco, a top Volkswagen executive has said. The initiative comes as Europe grapples with challenges in establishing its industry to support EV manufacturing. “We don’t have any supply chain. This has to be set up,” Bloomberg reported, quoting […] June 21, 2024
