Recent years have seen Morocco grapple with multiple difficulties, from the eurozone crisis in Europe to regional instability in the wake of the Arab Spring in Tunisia, Libya and Egypt. The country was also preparing to host the Africa Cup of Nations in January 2015, but lost its host status following the Ebola outbreak. Though it lodged a...
What are the challenges that need to be faced if the country is to achieve the objectives of the Vision 2020 strategy for tourism development?
A key component of Vision 2020, the national tourism strategy that aims to attract 20m visitors by the end of the decade, domestic tourists are now seen as one of Morocco’s most reliable source markets in the face of volatile foreign arrivals and uncertainty associated with current regional instability. One testament to this is the Ministry of...
Despite grappling with the challenges of political instability in North Africa and the impact of the eurozone crisis in Europe, Morocco continues to pursue the objective identified in its national tourism development plan, Vision 2020, of becoming a top-20 tourism destination by 2020. The sector already contributes 12% of GDP, supports around 505,000 direct jobs and is an important foreign...
Benefitting from strong ties to both Europe and the Arab world, Morocco has the right ingredients for future growth: low inflation, political stability, an industrial base and a favourable climate. With the outlook improving for Morocco’s trade partners and the lower price of oil – of which the country is a net importer – most observers expect growth to be even stronger in 2015, with estimates ranging from 4.4% to 5.0%.
Following successful completion of the Papua New Guinea liquefied natural gas project, the country is experiencing a surge of optimism about foreign investment and overall economic growth. PNG remains favoured by its traditional investors such as Australia, but it is increasingly a target for new players, including China and Japan.
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