A new report by Fitch Solutions painted a promising picture for the future of Morocco’s tourism sector, highlighting the sector’s potential for significant expansion into new markets, which is expected to increase inbound tourist arrivals by 2026, aligning perfectly with the government’s tourism development roadmap.
Titled “Morocco Tourism Report,” the report stressed that the country’s tourism sector is expected to continue expanding in 2024, following the full recovery recorded in total tourist arrivals in 2023.
Over the medium term, from 2024 to 2028, Fitch Solutions suggests that “arrivals levels will strengthen, with growth driven by European markets.”
However, short-term risks to Morocco’s tourism prospects may arise from weak economic growth in Europe in 2024 and rising living costs associated with tighter credit conditions, prompting consumers to reduce the number and length of their trips.
Morocco, however, remains an attractive destination for European visitors seeking relatively affordable, high-quality travel experiences and looking to reduce their travel budgets, says the report.
Fitch Solutions anticipates steady growth in tourist arrivals to Morocco from 2024 to 2028, with an expected 6.2% annual increase in 2024, amounting to a record high of 15.4 million visitors.
It is further anticipated that by 2026, tourist arrivals might reach 17 million, slightly below the government’s target of 17.5 million visitors by that year.
The report mentioned that the number of tourists would continue to grow, reaching 17.6 million in 2027 and 18 million in 2028, accounting for an average annual growth rate of 4.4% over the 2024-2028 forecast period.
A new study by BMI Research found that the number of tourists who arrived in Morocco in 2023 surpassed expectations. The study had predicted that 11 million tourists would visit Morocco in 2023, but the actual number was 14.5 million, representing an increase of 112% compared to pre-pandemic levels.
It also noted that the Al-Houaz earthquake on September 8, 2023, negatively impacted tourism arrivals. However, “despite this event, the Kingdom still recorded a good tourism performance in 2023,” applauded the report.
It also found that European markets, such as Germany, the UK, Spain, Italy, and the Netherlands, are Morocco’s main source of tourists, accounting for the largest share of arrivals.
Marrakech and Agadir are particularly popular with European tourists, according to the same source, especially during winter. It further highlighted that Morocco is also a popular destination for tourists from the Middle East, such as Saudi Arabia and the UAE, who are looking for luxury and leisure travel experiences.
The report credited “Morocco’s strategic tourism roadmap and sustained growth momentum,” noting that the Kingdom is well-positioned to recover from the pandemic and achieve sustainable growth in the coming years, despite European economic challenges and global constraints.
It highlighted the government’s increased focus on expanding and developing Morocco’s tourism offerings, acknowledging the sector as a vital source of income.
Fitch Solutions recalled that in March 2023, the government launched the 2023-2026 Strategic Tourism Roadmap with a budget of 6.1 billion MAD (about $606 million). The roadmap aims to attract 17.5 million tourists to Morocco by 2026 and reposition tourism as a key sector in the national economy.
In this regard, the government has identified nine sectors, five cross-cutting sectors, and six competitive levers to support the growth of the country’s tourism sector in the coming years.
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