Africa -  Morocco - Marrakech

Tourism in Morocco represents 8.1% of the total GDP and is considered a key factor of economic growth in the Moroccan Vision 2020 plan. The country suffered from the terrorist attacks in Europe in 2015 and 2016 that built a growing perception of insecurity in the region and discouraged Morocco’s traditional source market from travelling.

2017 was a recovery year with an increase of 11% in tourist arrivals. The COP 22 conference that took place in Morocco at the end of 2016 gave great exposure to the destination, improved the country’s image worldwide and boosted investment and tourism inflows. The government took this opportunity to run a large marketing campaign aimed at diversifying source markets and opening new air routes, notably with Royal Air Maroc and low-cost airlines to and from Morocco. The objective is to double the size of the industry by 2020. In addition, the new rating and classification system of hotels implemented in 2017 brings the industry in line with global standards.

The opening of the Moroccan market to the Chinese, with the abolishment of visa regulations in mid-2016 strongly benefited Marrakech. In addition, tourism was boosted by an increased air accessibility with 361 flights in 2017 against 245 in 2016. Air Europa launched a flight from Madrid, a new route was opened from Helsinki and Air France increased the number of direct flights to three per week. The government launched a number of tourism projects focused on bringing more domestic travelers to the city and on opening to new source markets. Marrakech is recovering; hotels’ values show a 10% recovery growth in 2017 and 10% in 2018. Although values will still be below 2015 levels.

Exchange Rate:

Exchange Rate 2016 Exchange Rate 2017 Change 2016/2017 Exchange Rate 2018 Change 2017/2018
US$ 1 0 0
Morocco - Marrakech 0.10121 0.10175 0.5% 0.1067 4.9%

Change In Value For Market:

Legend
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
2015 115.01
2016 79.76
2017 87.92
2018 (f) 102.41
2019 (f) 104.97
2020 (f) 108.14

For more information, please contact:

Tim Smith, MRICS
[email protected]
  • +27 797 342296 (w)
Rishabh Thapar
[email protected]
  • +27 0 792790584 (m)
Laura Dutrieux
[email protected]