Morocco's tourism industry is set to continue its growth momentum in 2024, with the hospitality sector promising a bright future. This was revealed in a recent global report published by Fitch Solutions.
The "Morocco Tourism Report" stated that Moroccan tourism is expected to expand into new markets, aiming to increase visitor levels by 2026, the target date for achieving the government's roadmap objectives for tourism development.
According to the report, the number of visitors to Morocco will grow between 2024 and 2028, especially from European source markets. Although there are potential risks to the future of tourism in Morocco, such as weak economic growth in Europe in 2024 and rising living costs, the country will remain an affordable destination with high-quality services. As a result, it will continue to attract European consumers looking to reduce their travel expenses.
The report forecasts a growth rate of 6.2% in the number of visitors in 2024, which will reach a new record of 15.4 million. The number of visitors to Morocco is expected to reach 17 million by 2026, which is slightly below the government's target of 17.5 million visitors by 2026, according to Fitch. The agency estimates that the number of tourists will reach 17.6 million in 2027 and increase to 18 million in 2028. According to the agency's experts, this represents an average annual growth of 4.4% over the 2024–2028 forecast period.
According to the report, the number of tourists visiting the kingdom in 2023 reached a record high of 14.5 million, a 112% increase from pre-pandemic levels. This figure exceeded the previous forecast of 11 million visitors despite the negative impact of the earthquake on visitors in the last three months of the year. However, despite this tragic event, the kingdom still recorded an excellent tourism performance in 2023.
Morocco is a popular tourist destination, especially among visitors from European and Middle Eastern markets. Marrakech and Agadir are the most popular destinations, with most tourists coming from Germany, Italy, Spain, the UK, and the Netherlands. Additionally, luxury and entertainment seekers from Saudi Arabia and the United Arab Emirates often visit Morocco.
Experts predict a bright future for Morocco's tourism industry, citing sustainable growth and an ambitious strategic plan. Despite economic challenges in Europe and global constraints, Morocco is set to fully recover from the pandemic and offer promising prospects for the future.
The Moroccan government increasingly focuses on developing and expanding the country's tourism sector. This is seen as a vital source of revenue for the market, and the government launched the Strategic Tourism Roadmap 2023–2026 in March 2023 with a budget of 6.1 billion dirhams. The aim is to attract 17.5 million tourists to Morocco by 2026 and restructure tourism as a key sector of the national economy. These efforts are expected to result in optimistic forecasts for the country's tourism industry.