Sun. Jul 7th, 2024

Morocco is seeking to revive its closed hotels through an active public-private partnership in an initiative aimed at boosting the tourism sector and stimulating investments.

The move is part of an ambitious plan to attract 26 million tourists by 2030.

According to Moroccan Tourism Minister Fatima Zahra Amor, reopening closed hotels is among the government’s priorities, while providing support to those in difficulty.

Current efforts include finding solutions to the problems facing these hotels by facilitating communication between hoteliers and new investors.

These efforts come as many international brands and local investors have acquired closed hotels in major tourist cities such as Marrakech and Agadir, with the aim of boosting investment in the hospitality sector.

For its part, the Mohammed VI Investment Fund is instrumental in finding mechanisms to support these institutions, through two initiatives: the first dedicated to the acquisition of closed hotels, and the second to the renovation of these hotels through secondary financing.

This measure comes within the framework of Morocco’s strategic vision to develop tourism, as this sector is the second most important source of foreign currency after remittances from Moroccans abroad and contributes approximately 7% of GDP.

These steps aim to attract 17.5 million tourists in 2026, compared to 14.5 million in 2023, while creating 200,000 direct and indirect jobs.

Morocco has seen remarkable progress in tourism, rising from 34th in 2019 to 22nd in 2022 on the UNWTO’s list of the world’s most attractive destinations.

Morocco has many World Heritage sites, which are considered an important tourist attraction, such as the medina of Marrakech and the medina of Fez, in addition to other historical and cultural sites that reflect its diversity and unique beauty.

 

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