Morocco expects 140 billion DH in tourism revenue by 2020
20 March 2012
Read by 2352 persons
(Xinhua)- The new national tourism strategy aims to increase sector revenue to 140 billion DH (MMDH) by 2020 and increase tourism's share of GDP to around 150 billion DH, up from the current 63 billion DH, according to the Moroccan Minister of Tourism, Lahcen Haddad.
This strategy also aims to increase the sector's contribution to the national economy through the creation of 200,000 additional beds, 470,000 new direct jobs and good governance bodies (Superior Tourism Authority and tourism development agencies).
To overcome constraints in terms of access to financial resources, Vision 2020 will set up the Moroccan Fund for Tourism Development (FMDT), which will materialize the State's proactive commitment.
This Fund, which will be financed by an initial State contribution, will participate in the country's main tourism projects and will help to direct investment flows towards new types of products and destinations.
It should be noted that in 2011, the sector attracted more than 12 billion DH in investments and provided 470,000 direct jobs. The number of framework agreements signed under Vision 2010 with around one hundred national and international operators reached 120, representing a total investment of around 100 billion dirhams for the creation of 165,000 hotel beds and 58,000 direct jobs.
Despite some headwinds, the tourism sector continues its momentum. Many operators, both national and foreign, continue to strengthen their commitment to invest in productive jobs. In this respect, the recent partnership agreement for the creation of the tourism investment authority in Morocco, called "Wessal capital", is a clear illustration.
Signed on 24 November 2011 between the FMDT and three sovereign funds (Qatar, Kuwait and the United Arab Emirates), this concrete investment tool, adapted to the tourism sector's investment strategy as defined in Vision 2020, is endowed with nearly 22.3 billion dirhams and should reach 30 billion dirhams in the long term.
Vision 2020 plans to welcome some 18 million tourists in 2020, reconciling environment and development.
Morocco has opted to promote the tourism sector by implementing a proactive tourism development strategy capable of triggering a development dynamic on solid foundations.
For the time being, important actions have been undertaken, notably the implementation of the Azur plan through the liberalization of air transport, which has resulted in the multiplication of air services, support for the financing of the hotel industry, improvement of the tax framework, strengthening the promotion of the Morocco destination in the main source markets, encouragement of rural tourism, strengthening of partnerships with tour operators, professionals and regions, and an increase in the budget allocated to tourism promotion. The implementation of this plan has been strengthened by new initiatives launched, notably the development of the Cala Iris (Al Hoceima), Mar Chica (Nador), Tamouda Bay (Tetouan) and Oued Chbika (Tan Tan) resorts.
Similarly, and in order to structure accommodation as a main link in the tourism value chain and to address the significant phenomenon of tourist accommodation structures (hotels, guesthouses, holiday rentals, etc.) operating in non-compliance with legal and regulatory provisions, the Moroccan Ministry of the Interior and the Ministry of Tourism have signed a joint circular on hotel classification and the fight against informality.
According to a press release from the Moroccan Ministry of Tourism, this is an integrated approach based on two aspects - preventive and corrective - which has been developed to regularize the situation of unclassified accommodation establishments.
The same source specifies that the corrective actions consist in carrying out a regularization operation of the situation of the unclassified hotel industry, which will be launched in April 2012.
Reussirbusiness.com
Published on 20 March 2012.
Posted online on 20 March 2012.
This strategy also aims to increase the sector's contribution to the national economy through the creation of 200,000 additional beds, 470,000 new direct jobs and good governance bodies (Superior Tourism Authority and tourism development agencies).
To overcome constraints in terms of access to financial resources, Vision 2020 will set up the Moroccan Fund for Tourism Development (FMDT), which will materialize the State's proactive commitment.
This Fund, which will be financed by an initial State contribution, will participate in the country's main tourism projects and will help to direct investment flows towards new types of products and destinations.
It should be noted that in 2011, the sector attracted more than 12 billion DH in investments and provided 470,000 direct jobs. The number of framework agreements signed under Vision 2010 with around one hundred national and international operators reached 120, representing a total investment of around 100 billion dirhams for the creation of 165,000 hotel beds and 58,000 direct jobs.
Despite some headwinds, the tourism sector continues its momentum. Many operators, both national and foreign, continue to strengthen their commitment to invest in productive jobs. In this respect, the recent partnership agreement for the creation of the tourism investment authority in Morocco, called "Wessal capital", is a clear illustration.
Signed on 24 November 2011 between the FMDT and three sovereign funds (Qatar, Kuwait and the United Arab Emirates), this concrete investment tool, adapted to the tourism sector's investment strategy as defined in Vision 2020, is endowed with nearly 22.3 billion dirhams and should reach 30 billion dirhams in the long term.
Vision 2020 plans to welcome some 18 million tourists in 2020, reconciling environment and development.
Morocco has opted to promote the tourism sector by implementing a proactive tourism development strategy capable of triggering a development dynamic on solid foundations.
For the time being, important actions have been undertaken, notably the implementation of the Azur plan through the liberalization of air transport, which has resulted in the multiplication of air services, support for the financing of the hotel industry, improvement of the tax framework, strengthening the promotion of the Morocco destination in the main source markets, encouragement of rural tourism, strengthening of partnerships with tour operators, professionals and regions, and an increase in the budget allocated to tourism promotion. The implementation of this plan has been strengthened by new initiatives launched, notably the development of the Cala Iris (Al Hoceima), Mar Chica (Nador), Tamouda Bay (Tetouan) and Oued Chbika (Tan Tan) resorts.
Similarly, and in order to structure accommodation as a main link in the tourism value chain and to address the significant phenomenon of tourist accommodation structures (hotels, guesthouses, holiday rentals, etc.) operating in non-compliance with legal and regulatory provisions, the Moroccan Ministry of the Interior and the Ministry of Tourism have signed a joint circular on hotel classification and the fight against informality.
According to a press release from the Moroccan Ministry of Tourism, this is an integrated approach based on two aspects - preventive and corrective - which has been developed to regularize the situation of unclassified accommodation establishments.
The same source specifies that the corrective actions consist in carrying out a regularization operation of the situation of the unclassified hotel industry, which will be launched in April 2012.
Reussirbusiness.com
Published on 20 March 2012.
Posted online on 20 March 2012.
