2023-09-30 08:30:00
At the end of August 2023, Morocco shows impressive growth in the tourism sector, with increasing travel receipts and a substantial surplus over expenditure. This trend reflects the country’s attractiveness as a tourist destination and its strong post-pandemic recovery. That said, travel revenue figures for the following months are eagerly awaited to assess the impact of the Al Haouz earthquake on the dynamics observed until then.
The latest data on Morocco’s travel revenues at the end of August 2023 demonstrate remarkable growth in the tourism sector. The latest data published by the Office des Changes highlight an impressive economic performance of the Moroccan tourism sector. Travel revenue has seen a remarkable increase, reaching an unprecedented level at the end of August 2023.
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This positive development demonstrates the country’s continued attractiveness as a tourist destination and travelers’ confidence in the Moroccan economy. According to official figures, travel revenues reached 71.360 billion dirhams (MMDH) at the end of August 2023, recording an increase of 32.5% compared to the same period of the previous year, which represents an absolute increase of 17.509 billion dirhams. Additionally, these revenues also exceed the level recorded at the end of August 2019, marking a solid recovery from the disruptions caused by the COVID-19 pandemic.
This substantial growth in tourism revenues is attributable to several key factors.
First of all, Morocco has managed to attract a growing number of international tourists thanks to its many assets, such as its cultural diversity, its varied landscapes, its rich historical heritage and its legendary hospitality. Additionally, the authorities’ continued efforts to promote tourism and improve infrastructure are helping to strengthen the destination’s competitiveness in the global market.
Regarding tourist spending, the figures indicate that travel spending during the first eight months of 2023 amounted to MAD 16.520 billion. Although this represents an increase from the previous year, it is important to note that the excess of revenue over expenditure has increased significantly. The excess travel balance thus stands at +54.840 billion dirhams at the end of August 2023, compared to +42.019 billion dirhams for the same period of the previous year. This positive development contributes to strengthening Morocco’s economic position and stimulating the general growth of its economy.
But nothing is certain
It should be emphasized that this exceptional performance of the Moroccan tourism sector should not be taken for granted. Despite the positive results, challenges remain, including increased competition from other tourism destinations, exchange rate fluctuations, possible global economic shocks and geopolitical uncertainties.
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The earthquake that struck the province of Al Haouz, in Marrakech, on September 8, 2023, is an illustration of the unforeseen challenges that the Moroccan tourism sector may face. Moreover, the travel revenue figures for the following months are eagerly awaited to assess the continued growth trend of the Moroccan tourism sector, confirm the remarkable performances recorded so far and measure the impact of the earthquake on the positive dynamics, especially since Marrakech is a preferred destination for international tourists in Morocco.
According to the Tourism Observatory, the two tourist centers Marrakech and Agadir alone generated 58% of total nights at the end of May 2019. In terms of changes in arrivals at border posts, at the end of June 2023, the three main airports in Kingdom namely Marrakech Menara, Mohammed V and Agadir Al Massira welcomed a total of 3.2 million tourists or 49% of total tourist arrivals.
These three airports experienced positive results compared to the end of June 2022: (+91% for Marrakech Menara, +41% for Mohammed V and +79% for Agadir Al Massira). In terms of Classified Tourist Accommodation Establishments (EHTC), during this period, all the main destinations recorded positive results compared to the end of June 2022: Marrakech (+115%), Agadir (+80%), Casablanca ( +63%). Furthermore, the end of 2023 will be crucial to determine whether this trend continues and allows Morocco to consolidate its position as a leading tourist destination.
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Overall, the end of 2023 will provide clear indications on the strength of the post-pandemic recovery and Morocco’s ability to maintain its attractiveness as a tourist destination. Therefore, it is essential that Morocco continues to invest in the development of the tourism sector, by diversifying its offer, improving the quality of services and strengthening the promotion of its tourism brand on an international scale.
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