Tourist arrivals in Morocco continue to grow significantly. Fitch Solution remains optimistic about the growth prospects for Morocco’s tourism sector, thanks to concerted government efforts and sustained demand from European and Middle Eastern markets.
According to a report by Fitch Solution, the number of tourists will increase by 6.2 per cent to reach 15.4 million visitors in 2024.
This upward revision exceeds previous forecasts of 13.0 million arrivals for the same year. This revision follows the announcement of figures for 2023, when Morocco will welcome 14.5 million tourists, an increase of 112.1 per cent over pre-pandemic 2019 levels.
Fitch Solution points out that this performance far exceeds the initial projections of 11 million arrivals for 2023.
However, this growth has not been without its challenges. The 6.8-magnitude earthquake that struck the High Atlas mountain range near Marrakech in September 2023 had a significant impact.
Fitch Solution notes that this tragic event, which claimed the lives of 2,900 people, temporarily dampened tourist arrivals, particularly in the last three months of the year.
European markets, particularly Germany, Italy, Spain, the United Kingdom and the Netherlands, continue to account for the largest share of arrivals to Morocco. Marrakech and Agadir remain popular destinations, especially in winter, for European travelers looking for a beach holiday.
In addition, Morocco also attracts tourists from the Middle East, particularly Saudi Arabia and the United Arab Emirates, in search of luxury vacation experiences.
Fitch Solution forecasts that this upward trend will continue beyond 2024.
Projections indicate that Morocco could welcome 17 million tourists in 2026, slightly below the government’s target of 17.5 million. By 2027, arrivals should reach 17.6 million, and by 2028 they could reach 18 million, with an average annual growth rate of 4.4 per cent over the period 2024-2028.
In March 2023, the head of government, Aziz Akhannouch, signed a strategic roadmap for tourism 2023-2026 with a budget of 6.1 billion dirhams (558 million euros).
This initiative aims to reposition tourism as a key sector of the national economy, with the goal of attracting 17.5 million tourists by 2026.
Fitch Solution points out that this strategy is based on nine thematic sectors, five cross-cutting sectors and six competitiveness levers to support the growth of the tourism sector.
MN/sf/te/lb/GIK/APA