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Morocco Tourism: Global economic changes and growth prospects

April 18, 2016 Destination Global No Comments Email Email

As part of the opening to the business world and the Moroccan business, Tourism Minister Lahcen Haddad, moderated on Thursday, April 14, 2016 at the Sun Club in Casablanca, a panel discussion on changes in the global economy and growth prospects.

The Tourism Minister of Morocco is a visionary. He is advocating the establishment of a strategic vision targeting a sustained annual growth rate of 6% for the next 20 years. This will result in tripling growth which will eradicate poverty and vulnerability by 2030. “It is clear that tourism is a sector on which we must rely for sustained economic growth, especially in employment,” he said.

Mr. Lahcen Haddad, Tourism Minister of Morocco

Mr. Lahcen Haddad, Tourism Minister of Morocco

This meeting was an opportunity to discuss the economic and Gotha Casablanca policy, of which various aspects relate to the economic situation in Morocco and its correlation with the regional and international environment, as well as the opportunities and prospects for economic development for years to come.

Mr. Haddad stressed the great advances of the Moroccan economy through the reforms under the leadership of His Majesty the King, both politically and economically. These reforms have doubled the size of the national economy during the past two decades, positioning it as economically competitive and diversified as well as integrated in the global economy.

Mr. Haddad also noted the resilience of the Moroccan economy as it continued to show a fluctuating growth (an average of 4% since 2000) which, nevertheless, is characterized by its dependence on agricultural performance and natural hazards. He clarified that alongside investment in the industry this brings value-added exports that must also be invested in so as to establish a true to employment policy.

Mr. Haddad presented in this connection, the importance of the tourism sector in the Moroccan economy with nearly 7% of the GDP, nearly 5% of national employment, and 25% of foreign exchange reserves.

To achieve this goal, Mr. Haddad advocated investment in sectors that are large employers, such as NTIC, services, leisure, social entrepreneurship, tourism, media, to name a few. He reiterated that the real creation of wealth and jobs is in the economy of the tourism industry, citing in this connection the example of Spain and Portugal.

IT must also seize opportunities in particular for investment in the green economy and promoting research and development in this sector. Morocco must continue on the path of sustainable development and be fully involved in a green economy logic in order to realize its leading position in the region. Digitalization is also an opportunity to seize a new social revolution with significant potential for job creation.

Also required in order to succeed is Education Reform so as to make a strong link in the social and economic progress of the country and be a model of good governance of the education system. This commitment will capitalize on a proposal force that contributes to the implementation of public policies for the benefit of Moroccan youth.

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