Moroccan recovery underway
As summer holidays draw to a close, we assess how one of the MENA region’s hospitality hotspots has managed through pandemic: Morocco. It was inevitable that this sector would take a hit in Morocco, yet, in a cheerful turn of events, the economy is set to rebound this year. the country’s rapid inoculation campaign, its lifting of restrictions, and augmented reputation as a manufacturing and exports hub, have saved the day. We have a look at how:
- Morocco is set for economic recovery this year. Positive agricultural output, the easing of travel restrictions, a sustained increase in remittances and a diversified economy will all cushion the revenue loss caused by the COVID-19 pandemic.
- The country’s focus on Africa (specifically West Africa) is a critical part of its strategy to expand its export markets regionally.
- Its ‘Industrial Acceleration Plan (IAP) 2014-2020’ is surpassing expectations; among others, the automotive industry is driving increased FDI and export sales.
Florence Eid-Oakden, Ph.D, Chief Economist
Leila Lajevardi, Imru Al Qays, Analyst
The Country Views series shines the spotlight on specific developments in MENA countries, analysing them from a local perspective to deliver forward looking views for businesses and investors.
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