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Morocco World
2 days ago
- Business
- Morocco World
Morocco Welcomes 7.2 Million Tourists in First Five Months of 2025
Rabat – Morocco has welcomed a new record of 7.2 million tourists during the first five months of 2025. A statement from Morocco's Ministry of Tourism has said the number marks a 22% increase compared to the same period last year. The number represents an increase of 1.3 million tourists and a remarkable 68% growth compared to 2019. The ministry celebrated the momentum, noting that the data confirms the upward trend that started in 2024. The results also confirm Morocco's position on the global tourism roadmap, the statement added, noting that the growth strengthens the country's standing as a leading international travel destination. The ministry emphasized that the results reaffirm Morocco's trajectory toward its goal of attracting 26 million tourists by 2030. The tourism sector is among the key sectors contributing to Morocco's economy. In February, the Exchange Office said travel revenues amounted to MAD 112.5 billion ($11.1 billion) last year, showing a growth of 7.5% compared to a year earlier. Travel expenditures, meanwhile, reached MAD 29.36 billion ($2.9 billion), showing an increase of 22.9% year-on-year increase. In 2024, Morocco welcomed 17.4 million tourists, with arrivals representing a 20% increase compared to 2023. The data is unprecedented in Morocco and has exceeded the target set by the country for 2026. The number of arrivals also made Morocco the most-visited country in all of Africa. 'Over the five years, Morocco has averaged USD 3.5 billion in FDI annually across all sectors,' UN Tourism said recently, noting that $2.2 billion was allocated to the sector between 2014 and 2023. Tags: ecotourism in moroccotourists in morocco
Morocco World
01-06-2025
- Business
- Morocco World
Morocco's Diaspora Remittances Drop 3.7% By April Compared to Same Period in 2024
Rabat – Latest statistics from the Exchange Office reported that the remittances from the Moroccan diaspora dropped by 3.7%, amounting to a drop of MAD 1.37 billion ($148.25 million) by April compared to the same period last year. The Exchange Office said remittances reached MAD 35.9 billion ($3.88 billion) by the end of April compared to MAD 37.27 billion ($4 billion) over the same period over the same period last year. Money transfers are important for Morocco's economic growth, and King Mohammed VI has also been calling for efforts to facilitate the diaspora's administrative procedures and needs. 'I have decided that mechanisms used in managing the affairs of Moroccans residing abroad should be revisited,' the King said in November of last year. Last year, remittances reached over $11.7 billion, representing an increase of 2.1% compared to 2023. Several reports have highlighted the importance of Morocco as one of the largest recipients of remittances in the Middle East and North Africa region after Egypt. The World Bank described Morocco as the second-largest recipient of remittances following Egypt. This number is expected to rise, with the Bank forecasting an ongoing increase in Morocco-bound remittances in the coming years. Tags: Moroccan Diaspora Remittancesmorocco remittances
Morocco World
01-05-2025
- Business
- Morocco World
Remittances from Moroccans Abroad Decline by 6.2% End of March
Rabat — Remittances from Moroccans living abroad (MREs) reached MAD 26.22 billion ($2.80 billion) by the end of March, compared to MAD 27.96 billion ($3 billion) during the same period last year. Morocco's Exchange Office said the statistics reflect a decrease of MAD 1.74 billion ($187.3 million), or 6.2% year-on-year. Although the statistics show a slight decrease, the number recorded in remittances from MREs does not reflect the country's ambition to see more Moroccans investing or sending their money home. Morocco's government aims to maintain leadership in the MENA region as the country upholds its position as the second-largest recipient of remittances in the region. Total remittances from the Moroccan diaspora worldwide reached $11.7 billion last year, representing a 2.1% increase from 2023. In November last year, Head of Government Aziz Akhannouch said the cabinet is committed to implementing King Mohammed VI's vision for the Moroccan diaspora as outlined in last year's Green March anniversary speech. During the speech, the monarch called for revising and restructuring institutions that manage the affairs of MREs to reinforce their relationship with their homeland. 'I have decided that the mechanisms used in managing the affairs of Moroccans residing abroad should be revisited,' the monarch said in his speech, announcing plans to create two bodies to provide strategic guidance and representation. He also mentioned the desire to focus on executing public policy and consolidating efforts across various stakeholders. Akhannouch, during a meeting following the King's speech, reviewed 'the key points' the monarch made, emphasizing that the government has attentively and thoughtfully embraced the royal directives and mobilized resources to ensure the success of this reform. He also affirmed that the government is 'committed to executing this ambitious Royal Vision with the necessary diligence and urgency.'
Morocco World
30-03-2025
- Business
- Morocco World
Morocco's Tourism Revenues Hit $1.6 Billion in February
Rabat – Morocco's tourism revenues amounted to MAD 15.75 billion or $1.6 billion as of February, new data from Morocco's Exchange Office has shown. The number reflects a growth of 2.8%, an increase of MAD 428 million ($44.4 million) compared to the same period a year earlier. Morocco's tourism stakeholders have been celebrating the strong performance the sector has been generating in the past decade. Earlier this month, the Tourism Ministry said Morocco witnessed nearly 2.7 million arrivals by the end of February. The number shows a 24$ % increase compared to 2024, it explained. February alone saw almost 1.4 million arrivals, marking a 22% increase, or 248,000 more visitors, compared to the same month last year. Last year, the North African country attracted over 17.4 million visitors, marking a 20% increase compared to a year earlier. The number also means Morocco achieved its target two years ahead of the set year. The data from the exchange office further indicated that travel expenses in February amounted to MAD 5 billion, marking a 27.2% increase. The travel surplus exceeded MAD 10.76 billion by the end of this past February, down 5.6% compared to the previous year.
Morocco World
29-03-2025
- Business
- Morocco World
Morocco's Tourism Revenues Hit $4.28 Billion in February
Rabat – Morocco's tourism revenues amounted to MAD 15.75 billion or $4.28 billion as of February, new data from Morocco's Exchange Office has shown. The number reflects a growth of 2.8%, an increase of MAD 428 million ($44.4 million) compared to the same period a year earlier. Morocco's tourism stakeholders have been celebrating the strong performance the sector has been generating in the past decade. Earlier this month, the Tourism Ministry said Morocco witnessed nearly 2.7 million arrivals by the end of February. The number shows a 24$ % increase compared to 2024, it explained. February alone saw almost 1.4 million arrivals, marking a 22% increase, or 248,000 more visitors, compared to the same month last year. Last year, the North African country attracted over 17.4 million visitors, marking a 20% increase compared to a year earlier. The number also means Morocco achieved its target two years ahead of the set year. The data from the exchange office further indicated that travel expenses in February amounted to MAD 5 billion, marking a 27.2% increase. The travel surplus exceeded MAD 10.76 billion by the end of this past February, down 5.6% compared to the previous year.
