Africa -  Morocco - Marrakech

Morocco had a tough year in 2016 with a severe drought which severely affected agriculture production. According to the Worldbank, the overall GDP growth dropped down to 1.1% in 2016, with a record low of 0.5% in the second quarter of the year. However, Morocco is still an established tourism Kuwait, the United Arab Emirates, Qatar and Oman. In 2017, Qatar stepped out of this alliance.

destination. After a drop in REVPAR in 2016 due to the threat of terrorism in Europe, 2017 shows a regain of interest from international tourists, notably from China and Russia. The decision of King Mohammed VI to exempt Chinese citizens from visa requirements from June 2016 boosted the tourism industry in the country: monthly arrivals from China were multiplied by six from this date. Additionally, the government plans to invest time, money and efforts to promote the tourism industry: new airports are expected to open in 2017 to support domestic accessibility and the Morocco Vision 2020 strategy aims to double the size of the tourism industry by 2020.

After a rough year in 2015, Marrakech continued to suffer from the terrorist attacks in Europe in 2016 that deterred many French high-spending tourists from visiting the country. While occupancy levels increased almost back to pre-crisis level, thanks to the Chinese and Russian tourists that came along, a drop in ADR of 31% lead to a decrease in REVPAR of 23.1%.

Values in Marrakech fell significantly in 2016 owing to the drop in ADR. However, the capital is likely to recover as the security situation improves. Indeed, 2017 started on a positive note with an increase in REVPAR of 17.6% proving that Marrakech remains a strong market in Africa.

Exchange Rate:

Exchange Rate 2015 Exchange Rate 2016 Change 2015/2016 Exchange Rate 2017 Change 2016/2017
US$ 1 1 0
Morocco - Marrakech 0.10195 0.10172 -0.2% 0.10225 0.5%

Change In Value For Market:

Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Morocco - Marrakech RevPAR Change

Morocco - Marrakech RevPAR

Year RevPAR
2010 107.24
2011 124.39
2012 123.85
2013 141.90
2014 146.21
2015 115.01
2016 88.48
2017 103.31

For more information, please contact:

Tim Smith, MRICS
[email protected]
  • +27 797 342296 (w)
Laura Dutrieux
[email protected]
Laura Dutrieux
[email protected]