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Morocco's Tourism Sector Soars: Record-Breaking Foreign Currency Revenues in 2024
Morocco's tourism industry has achieved unprecedented success, with foreign currency revenues reaching a record high of MAD 17 billion (approximately $1.74 billion) in August 2024. This remarkable performance represents a significant 20% increase compared to the same period last year, according to recent data released by the Ministry of Tourism.
The positive trend extends beyond August, with cumulative revenue for the first eight months of 2024 climbing to MAD 76.4 billion, a 7% increase from the previous year. In US dollar terms, the overall tourism sector revenues surpassed $7.83 billion by August.
Minister of Tourism Fatim-Zahra Ammor expressed satisfaction with these results, stating that they confirm the "unprecedented momentum" experienced by Moroccan tourism since emerging from the COVID-19 crisis. August alone saw the arrival of 1.8 million tourists, contributing to a total of 11.8 million visitors to the North African country since the beginning of the year.
Ammor attributes this success to the effectiveness of Morocco's tourism roadmap, launched in March 2023. This strategic initiative, designed for the 2023-2026 period, focuses on enhancing air connectivity and strengthening marketing efforts. The roadmap has already yielded impressive results, with a 30% increase in air transport capacity compared to 2023.
Looking ahead, Morocco has set an ambitious target of attracting over 17.5 million tourists by 2026. To achieve this goal, the country plans to diversify and enrich local experiences, aiming to extend and enhance visitors' stays.
The tourism sector's robust performance is a significant boost to Morocco's economy, demonstrating the country's resilience and adaptability in the face of global challenges. As Morocco continues to invest in its tourism infrastructure and marketing strategies, the industry is poised for sustained growth, potentially cementing its position as a leading destination in the region.