|
Select your language
development search
|
Why Invest in Morocco
Economic factors
Morocco’s top three sources of income are the mining of phosphates, the transfer of money from nationals living abroad back to their relatives and other key industries include food processing, leather, textiles and fishing. More key now is their Tourism as this is very much becoming a huge industry which will potentially overtake in the coming years. Being endowed with important natural assets as well as a rich and varied cultural heritage, Morocco has opted for the promotion of the tourist sector, putting in place a strategy of tourism development which is likely to trigger a sustainable and integrated development boom.
Property market
Property prices are at a very competitive level compared to the ever popular Costa Del Sol only 20 minutes boat ride across the water, with prices being 30% to 50% cheaper compared to comparable properties. In conjunction with Vision 2010, the Moroccan government has also announced the ambitious Plan Azur. The key elements are: - The creation and development of 6 new generation state-of-the-art coastal resorts “5 on the Atlantic Coast and 1 on the Mediterranean Coast”. - New Motorways to be built or upgraded - New Regional Airports to be either built or upgraded - Increase and de-regulate incoming flights from all over Europe with the introduction of an Open Skies policy, EasyJet and RyanAir now already flying into Morocco on various routes - New marinas and ports and high-speed trains to be implemented - Investigate and possibly implement the construction of a tunnel linking Spain and Morocco under the Straits of Gibraltar. - It is widely predicted that the costal & selected inland property market in Morocco is set to boom. UK tourism has increased by some 18% between 2006 and 2007 alone.
Accessibility
Access in the past has not been great but this has dramatically changed as Morocco is now part of the EU ‘Open Skies’ regime thus opening the floodgates for no-frills carriers. Passengers can now choose between RyanAir, Thomson Fly, EasyJet and Air Maroc’s low-cost subsidiary, Atlas Blue, who cover the major UK Airports between them into Marrakech, Fez, Agadir and Casablanca. Also it is easily accessible from Spain via high speed catamarans which is only a 20 minute journey from the likes of Tarifa.l
Climate
The weather in Morocco boasts 350 days of sunshine a year with temperatures in the winter months around 20ºC and rising to mid 30ºC in the summer time, dependant on the location. The Northern part of Morocco shares the same climate as Costa del Sol which is a firm favourite for Europeans for winter and summer sun.
Tourism
Being endowed with important natural assets as well as a rich and varied cultural heritage, Morocco has opted for the promotion of the tourist sector, putting in place a voluntarist strategy of tourism development which is likely to trigger a sustainable and integrated development dynamics
Clear objectives based on figures
The defined objectives are very ambitious both in terms of quantity and quality. "The 2010Vision"sets itself the goal of achieving the following figures -based objectives: Concerning tourist arrivals, it is planned to reach 10 million of tourists, 7 million of whom are international tourists (against 5,5Million in 2005); As regards hotel capacity, 160.000 beds will be created (130.000 beds in sea tourist resorts and 30.000 beds in the cultural destinations of the country), putting the national capacity up to 230.000 beds; Investments: the volume should reach 8 to 9 billion Euros, (planning of the new sea tourist resorts, infrastructures, hotel trade and entertainment); Receipts: it is expected to reach 48 billion of Euros concerning receipts in foreign currency; Jobs: 600.000 new jobs will be created; Contribution of tourism to the GDP: this contribution should annually rise by 8.5%(on average), which would bring it to around 20% by the year 2010
|