A global report draws optimistic expectations for the performance of Moroccan tourism this year

A global report draws optimistic expectations for the performance of Moroccan tourism this year

April 12, 2024
Visit morocco

Promising prospects for the tourism sector and what is known as the “hospitality industry” in Morocco are drawn by a new global report, issued by Fitch Solutions, stressing that “Moroccan tourism is expected to expand into new markets to enhance the levels of arrivals,” by 2026, the date that constitutes a ceiling Achieving the goals of the government’s “road map” for developing Moroccan tourism.

The document, published under the title “Morocco Tourism Report,” stated that “during 2024, we expect the tourism sector in Morocco to continue to expand, after the full recovery recorded in the total number of tourists arriving in the Kingdom in 2023.”

As for the “medium term” extending between the years 2024 and 2028, the “Fitch report” suggested that “enhancing the levels of arrivals will be achieved, with the growth driven by European markets for tourists arriving in Morocco,” noting that “short-term risks to the prospects of the tourism sector in Morocco may It comes from weak economic growth in Europe in 2024, as well as higher costs of living linked to tighter credit conditions; “This encourages consumers to reduce the size of their trips and focus on short trips.”

The report added: “However, Morocco remains a high-quality and relatively affordable travel destination, and is therefore attractive to European consumers interested in reducing their travel budget.”

According to the report’s forecasts and indicators, “tourist arrivals to Morocco will continue to grow during the period 2024-2028,” stating in this regard: “The number of arrivals is expected to grow by 6.2 percent on an annual basis in 2024, to reach 15.4 million.” ; “It is a new record.”

“We expect the number of arrivals to Morocco to reach 17 million by the end of 2026, that is, slightly less than the government’s target of 17.5 million visitors by 2026,” Fitch highlighted, predicting, according to its studies, that “the number of tourists will reach 17.6 million in 2027.” Before it rises to 18 million in 2028.” This represents an average annual growth rate of 4.4 percent year-on-year during the 2024-2028 forecast period, say the global organization’s experts.

The report, which was based on a new study conducted by the “Macroeconomic and Sectoral Research Unit” BMI (affiliated with “Fitch Solutions”), confirmed that the record number of tourists arriving in the Kingdom in the year 2023 (14.5 million tourists, an increase of 112 percent compared to… With pre-pandemic levels) “it has exceeded its previous forecast of only 11 million arrivals, taking into account the negative impact of the earthquake on arrivals during the last three months of the year.” However, despite this tragic event, the Kingdom recorded a good tourism performance in 2023.”

Fitch noted, in its Moroccan tourism report, that “European markets, such as Germany, Italy, Spain, the United Kingdom, and the Netherlands, represent the largest share of arrivals to Morocco, with Marrakesh and Agadir maintaining their position as “two popular destinations, especially in the winter, for travelers coming from European countries.” Morocco is also “a popular destination for travelers from Middle Eastern markets, such as the Kingdom of Saudi Arabia and the United Arab Emirates, who are looking for tourism experiences that, according to the report’s data, mainly consist of “luxury and leisure holidays.”

Fitch Solutions’ optimistic forecasts reveal a promising horizon for the tourism sector in Morocco, driven by the dynamism of “sustainable growth and an ambitious strategic roadmap,” noting that “the Kingdom is in a position that allows it not only to fully recover in tourism compared to the pre-pandemic level But also to offer encouraging prospects for the coming years, despite European economic challenges and global constraints.”

These “optimistic expectations,” according to the contents of the report, stem from “the Moroccan government’s increasing focus on developing and expanding the Moroccan tourism offer, as the sector is considered a vital source of income for the market,” recalling that in March 2023, the government launched the Strategic Tourism Roadmap 2023-2026, with a budget An amount of 6.1 billion dirhams (about 606 million US dollars), setting the goal of attracting 17.5 million tourists to Morocco by 2026, and reorganizing tourism as a major sector in the national economy. “The government has identified nine sectors, five cross-cutting sectors, and six competitive tools to support the growth of the country’s tourism sector in the coming years.”

The report itself, whose executive summary was reviewed by Hespress newspaper, explained that the research approach adopted by the Moroccan tourism report was “done from the source,” highlighting that it “includes independent assessments from risk studies institutions affiliated with Fitch (which specializes in global credit ratings).” On “Forecasts for Tourism Expenditure; government spending on tourism; As well as the arrival and departure of passengers according to the means of transport, reason for travel, origin and destination; As well as the center of residence.”

The “Moroccan Tourism Report” issued by “BMI” (a unit for research and future risk studies affiliated with the “Fitch” group) is directed to all professionals and strategists in the hotel and tourism industry around the world, as well as to the benefit of analysts of companies, associations, government departments, and regulatory bodies. Independent forecasts and competitive data about the sector. Promising.

It is noteworthy that the report of the competent international agency seeks to “provide expert analysis, independent forecasts, and competitive information about the tourism industry in Morocco.” It is a “stronger and more reliable view of the expectations of the tourism industry in Morocco.”

Leave a Reply

Your email address will not be published. Required fields are marked *