Market Trends of Morocco Hospitality Industry
Rising Tourist Arrivals to Morocco is Driving the Market
The successful implementation of policies proposed by the government as a part of Vision 2020, which recorded 20 million tourist arrivals in 2020 and developed the tourism sector to become one of the top 20 destinations in the world, resulted in the growing number of tourists visiting Morocco.
The GDP share of Morocco's tourist industry is expected to fall in the years 2026, 2027, and 2028, despite long-term projections for an increase of 2.7 percentage points between 2023 and 2028. In 2028, the share is projected to be 11.86 percent. Although a large growth in the share is anticipated over the next few years, this increase will now be slower.
In total, 4.4 million more arrivals (+85.11 percent) of foreign tourists are expected to arrive in Morocco between 2023 and 2028, according to predictions. In 2028, there will likely be 9.56 million arrivals, according to estimates. The number of foreign visitors arriving is shown. This, according to the World Bank, is when travelers visit a nation that is not their regular abode, with the primary goal being leisure rather than business and the anticipated visitation length not exceeding a year.
Morocco is Attracting more Investments even with Dynamic Key Performance Indicators Values
Despite the dynamic occupancy rate and average room revenue that Morocco has been registering, the country has more than 36 hotel construction projects in the pipeline that are aiming to be open until or before 2024 and are going to add more than 6,300 rooms to the supply that the country currently holds. Many tourists are turning away from conventional tourism and toward more genuine local experiences.
They are putting more of an emphasis on getting to know the local people and their cultures, which is one of the most important parts of the hospitality business in Morocco. Instead of purchasing souvenirs, these tourists choose to purchase local goods and go on adventurous journeys using public transportation. Dinner at a restaurant that serves zero-kilometer food, including locally sourced, low-impact core components like meat, cheese, and honey, is another option. Since travelers are becoming more aware of how their trips affect the environment, this new kind of tourism is likely to become more popular, which will help the market grow over the next few years. Though the overall key indicates that Morocco is recording dynamic values, the key cities are recording a growing number of percentages and are attracting investments.