Situation of the sector in Morocco
Morocco is mostly known for its contrasting landscapes, rich heritage, and its ancestral history. It was also the only Mediterranean country to have experienced a growth of more than 6%, when the world market fell by 5% in 2009.
Moreover, between 2005 and 2012, the number of visitors increased from 5.8 to 9.3 million, and foreign direct investment exceeded 30 billion dirhams in the same period.
Source: Ministry of Tourism
These figures confirm the enthusiastic development of tourism in Morocco, and acknowledge the efforts made by the authorities to place the country among the most popular destinations.
You too, choose Morocco!
Development potential of the sector
The ambition to attract more visitors and strengthen the sector as the driving force of economic, social and cultural development, has lead Morocco to adopt a strategy dubbed "2020 Vision". The aim of this strategy is to support growth, and open Moroccan tourism to new markets. It also aims to:
- Capitalize on the achievements of the 2010 Vision.
- Switch to a more integrated planning approach.
- Develop the most differentiated resources in the territory by meeting the needs of the most promising markets.
- Straighten up the persistent structural weaknesses of the sector.
- Place sustainable development at the heart of the strategy.
The 2020 Vision will allow the Moroccan Tourism to accommodate 18 to 20 million tourists by 2020, to increase its accommodation capacity to 375,000 beds, and to generate 17 billion dollars as receipts.
Our Offer for investors
For an investor, Morocco remains one of the most attractive destinations in the Mediterranean. In addition to its infrastructure and its eclectic landscape, the authorities offer their support and a multitude of advantages to business professionals who wish to develop their activities in the country. These advantages include:
- Full exemption from corporation tax on sales revenue made in foreign currency for a 5 year period, and a reduction of 17.5 % thereafter
- Exemption from the income tax on sales revenue made in foreign currency for a 5 year period, and a 50% reduction thereafter
- Exemption from import duties on the capital goods required for the project
- Exemption from VAT for a period of 36 months on imported capital goods, and for a period of 24 months on those purchased in Morocco
The financial aspect is also part of the strategy. The 2020 Vision also include the establishment of some instruments to mobilize national and international investment. These financial instruments include:
- The Moroccan Funds for Tourism Development
- Investment grants
- National Investment Funds
- 24 billion dirhams was budgeted by the banking sector
Testimony | Mr. Gilles Pelisson, CEO of Accor Group
|| « In Morocco, we have noticed a substantial economic development. This includes airports expansion, a burgeoning infrastructure, a political will to push the country forward, and a diversity of destinations within the country ... All this is an essential asset. Morocco has all what it takes to be a famous destination. »
Testimony | Lahcen Haddad, Minister of Tourism
|| « Tourism has performed well this year, despite the current uncertain economic situation and the disadvantageous regional geopolitical context, thanks to the exemplary partnership between the authorities and the private sector. »
Key figures of tourism in Morocco | 2012
- 8% of the national GDP
- 485,000 direct jobs
- 58 billion dirhams as revenues
- 9.37 million tourists in 2012
- an accommodation capacity of 194,000 beds
- 17.5 million overnight stays recorded in 2012
*Source : http://www.tourisme.gov.ma