Morocco Showcase Summit: A Gateway to Tourism and Investment Opportunities

Thursday 07 November 2024 - 12:12

The inaugural Morocco Showcase Summit: Tourism, Hospitality, Invest is set to take place on November 19-20 at the Marriott Hotel in Casablanca, bringing together a diverse group of international investors, developers, financiers, and hospitality leaders. This summit aims to delve into the myriad opportunities presented by Morocco's vibrant market, emphasizing its appeal as a prime destination for tourism and investment.

Organized in both English and French by the Société Marocaine d’Ingénierie Touristique (SMIT) in partnership with API Events, the event will showcase innovative funding programs and strategic infrastructure investment opportunities designed to enhance Morocco's tourism sector. The country’s geographical advantage, less than a three-hour flight from major European capitals, positions it as an attractive option for European tourists and investors alike.

David Desta, Vice President for Hotels and Hospitality at JLL Africa, highlighted Morocco's strategic location as a bridge between Europe and Africa, making it a favored destination for leisure travelers. He noted that the presence of the Moroccan diaspora in Europe further enhances the country's image. Additionally, Morocco's robust airport infrastructure and extensive road network are crucial assets that facilitate increased airline operations and traveler accessibility.

To attract European hotel chains and investors, SMIT has introduced several incentives. Notable international brands such as Accor, Marriott, and Hyatt have established a presence in Morocco since the early 2000s. The recent establishment of a $600 million fund aimed at revitalizing tourism infrastructure underscores the Moroccan government’s commitment to fostering investment in this sector.

Govind Mundra, Head of Development for Middle East & Africa at Wyndham Hotels & Resorts, emphasized that SMIT provides a highly competitive investment environment. Key incentives include VAT exemptions on capital equipment, complete customs duty exemptions on imported capital goods, and government contributions covering up to 30% of total project investments. These measures align with Morocco's ambitious goal of attracting 26 million tourists by 2030, creating a solid foundation for Wyndham's expansion in the region.

The upcoming co-hosting of the FIFA World Cup 2030 alongside Portugal and Spain is expected to significantly boost Morocco's visibility on the global stage. Mundra stated that this landmark event would not only elevate leisure tourism but also position Morocco as a leading destination for meetings, incentives, conferences, and exhibitions (MICE), aligning with Wyndham’s strategic objectives.

The Morocco Showcase Summit promises to be an invaluable platform for investors to explore investment opportunities within the country, network with key stakeholders, and gain insights from industry experts. This event is poised to catalyze growth in Morocco’s hospitality sector as it prepares for an influx of international attention from tourists and business visitors alike.