Morocco’S Tourism Sector Thrives: Nearly $6 Billion In Revenue
Date
9/25/2024 7:00:09 PM
(MENAFN- The Rio Times) Morocco's tourism industry has experienced a significant boost in 2024. The country's classified tourist accommodations recorded over 15.35 million overnight stays in the first seven months of the year.
This marks an impressive 8% increase compared to the previous year's figures. The Moroccan Tourism Observatory released detailed statistics on the sector's performance.
International tourism saw a substantial 13% rise, reaching 10.9 million overnight stays by July 2024. Domestic tourism, however, experienced a slight decline of 3%, totaling 4.4 million stays.
Several destinations across Morocco witnessed remarkable growth. Agadir led the pack with a 17% increase in overnight stays.
Al Haouz followed closely with a 15% rise. Marrakech, Casablanca, and Essaouira each saw an 8% uptick in tourist activity. Rabat, the capital city, recorded a modest 3% growth.
In contrast, Tangier and Fez experienced slight declines of 1% and 7%, respectively, compared to the same period last year. These fluctuations reflect the diverse appeal of Morocco's tourist destinations.
Financial Performance in Morocco's Tourism Sector
The tourism sector's financial performance has been equally impressive. Foreign exchange earnings from non-resident tourism reached 59.39 billion dirhams ($5.9 billion) in the first seven months of 2024.
This represents a 3.5% increase from the previous year's 57.39 billion dirhams ($5.7 billion). July 2024 proved to be a particularly strong month for the tourism industry .
Overnight stays in classified accommodations rose by 6% compared to July 2023. This growth was primarily driven by a remarkable 17% increase in stays by non-resident tourists.
The financial gains in July were substantial. Tourism revenues for the month totaled 10.2 billion dirhams ($1 billion), up from 9.47 billion dirhams ($925 million) in July 2023.
This represents a robust growth of 7.7% year-on-year. The first half of 2024 saw Morocco's tourism revenues reach 49 billion dirhams ($4.9 billion).
This figure surpasses the 47.9 billion dirhams ($4.8 billion) recorded during the same period in the previous year. The increase is attributed to a surge in tourist arrivals.
Morocco welcomed 7 million tourists in the first six months of 2024. Foreign tourists accounted for 54.2% of these arrivals, marking a 16.3% increase from the previous year.
The Moroccan diaspora represented 45.8% of arrivals, showing an 11.2% rise. The Directorate of Financial Studies and Forecasts (DEPF) reported a 1.6% increase in tourism revenues by the end of May 2024.
This growth follows a 4.2% decline observed in the first quarter of the year, indicating a strong recovery in the sector.
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