Moroccan International Travel Spending Soars to MAD 26.7 Billion in 2024

Sunday 05 January 2025 - 13:22

By: Dakir Madiha

Moroccan International Travel Spending Soars to MAD 26.7 Billion in 2024

Moroccan citizens have demonstrated a remarkable surge in international travel expenditure, reaching MAD 26.7 billion (USD 2.6 billion) by November 2024, surpassing the entire previous year's spending. This significant financial milestone, reported by SNRT News, represents a substantial increase of MAD 4.5 billion (USD 446 million) compared to the same period in 2023.

The comprehensive spending figure encompasses various categories of international expenditure, including tourism, religious pilgrimages, educational pursuits, training programs, and medical treatments abroad. This upward trajectory marks a decisive recovery from the pandemic-era downturn, with spending figures showing consistent year-over-year growth.

The recovery pattern is particularly noteworthy, demonstrating a steady climb from MAD 10.03 billion (USD 1 billion) in 2021 to MAD 17.58 billion (USD 1.7 billion) in 2022, followed by MAD 22.2 billion (USD 2.2 billion) in 2023, before reaching the current peak of MAD 26.7 billion (USD 2.6 billion).

Morocco's foreign exchange regulatory body, the Office des Changes, maintains oversight of international currency transactions, imposing a standard annual limit of MAD 100,000 (USD 10,000) for Moroccan travelers. Under specific circumstances, this cap can be extended to MAD 300,000 (USD 30,000), providing flexibility for various international engagement needs.

This significant increase in international travel spending reflects both the robust recovery of Morocco's outbound travel sector and its citizens' growing engagement with global opportunities for tourism, education, and healthcare.