Morocco’s economy is expected to receive a boost of approximately USD1.2 billion from co-hosting the 2030 World Cup with Spain and Portugal, according to a report from the financial analysis and brokerage firm Volaris Securities.
Morocco would add between USD850 million and USD1.2 billion to its economy if the Kingdom’s stadiums hosted one-third of the total number of matches in the 2030 World Cup, which amounts to 104 matches, at an average of USD25 to USD37.5 million per match, according to the report’s figures, as reported by East Business.
Morocco has initially nominated six cities to host the 2030 World Cup, including Agadir, Marrakech, Casablanca, Rabat, Fez, and Tangier, pending final confirmation after reaching an agreement with the Spanish and Portuguese parties on the distribution of the World Cup matches.
The announcement of the World Cup win has already triggered a surge in investment projects within the Kingdom. Local and foreign companies are eager to capitalize on the event and the incentives offered by Morocco’s new investment charter. This charter provides financial support of up to 30% of the total investment for companies participating in key sectors like infrastructure, tourism, and industry.
The tourism sector is another area expected to experience significant growth. Morocco plans to increase its hotel room capacity by 40,000, bringing the total to 330,000 rooms by 2026.
This expansion accommodates the influx of tourists anticipated during the World Cup. Experts predict a scenario similar to Qatar in 2022, which witnessed the arrival of approximately 1.4 million visitors. This surge in tourism will translate to higher hotel occupancy rates and a substantial increase in hard currency revenues.
The cost of organizing Morocco’s portion of the World Cup is estimated at $5 billion.
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