One year after its deadliest earthquake in 60 years, Morocco is seeking foreign investment to boost its tourism industry ahead of co-hosting the Fifa World Cup in 2030.
The North African country plans to develop infrastructure ranging from hotels to stadiums for the football tournament and is touting a new programme of incentives to attract investors to big-ticket projects, Imad Barrakad, chief executive of the Moroccan Agency for Tourism Development, told The National.
“The World Cup will happen in six cities, and we have to develop the infrastructure to get ready for the event. It is very important to have more hotels and more activities to do and it's something that we have to work on early,” he said, speaking on the sidelines of the Future Hospitality Summit in Dubai.
“We are very close to the GCC market and investors from the GCC are welcome to invest. We are here to help them. We have lots of discussions with Gulf investors,” he said, declining to provide details.
In July, the UAE and Morocco finalised the terms of a comprehensive economic partnership agreement to boost bilateral trade and investment ties. The deal will establish platforms for investment and private-sector collaboration in priority sectors such as tourism, infrastructure, transport and logistics.
In 2023, Morocco launched its Investment Charter, which aims to make the country attractive to foreign and domestic investors by offering incentives, subsidies and grants to companies.
Incentives include government cash contributions for up to 30 per cent of an eligible project's total investment amount, exemptions from paying VAT on capital equipment or materials acquired locally for a period of 36 months, and custom duty exemptions on imported goods or equipment for 36 months.
Foreign direct investment into Morocco's tourism industry is currently 20 per cent of the total investment by the private sector, and the target is to increase this to 30 per cent by 2026, Mr Barrakad said.
“We are looking at more investments in luxury and mid-scale hotels, leisure parks and the MICE [meetings, incentives, conferences, and exhibitions] infrastructure,” he said.
At the summit in Dubai, the Moroccan delegation touted opportunities including a $40 million investment ticket to plan and develop an amusement park in Casablanca and a $300 million investment ticket to develop a resort in a theme park in Marrakesh.
Morocco has detailed its 2023-2026 strategic road map to boost the country's travel and tourism industry. Tourism accounts for 7 per cent of Morocco's gross domestic product and is an important source of foreign currency. The country, which hosted a record 14.5 million tourists last year, aims to attract 17.5 million tourists in 2026 and 26 million by 2030 when it will co-host the World Cup with Spain and Portugal.
In the first half of 2024, 7.4 million tourists visited Morocco, marking a 14 per cent increase on the same period in 2023. It anticipates ending this year with 15.5 million to 16 million tourists, driven by marketing campaigns, higher airline connectivity, hotel openings and a focus on promoting Moroccan gastronomy, culture and villages, Mr Barrakad said.
To draw more international visitors, Morocco is investing in its aviation sector. National airline Royal Air Maroc is planning to quadruple its fleet to 200 aircraft by 2037 while Morocco’s airport capacity is expected to double to more than 90 million passengers by 2035.
In 2023 more than 12.4 million passengers travelled to Morocco by air, marking a 68 per cent increase over the past decade, according to the International Air Transport Association.
In the next 20 years, Morocco’s aviation sector is expected to grow significantly with passenger numbers expected to increase by 50 per cent in 2043, Iata said. Morocco has the potential to play a key role in linking Africa to Europe and North America, it said.
“In the face of this potential, it is essential that the government focus on some key elements to support success. In particular, investments must yield cost-effective infrastructure, policies must align to support the achievement of net zero carbon emissions by 2050, and the regulatory environment should enable growth based on global standards,” Willie Walsh, Iata's director general, said in a speech in Marrakesh on October 1.
Morocco's aviation and tourism ambitions loom large a year after a devastating earthquake struck the country, killing about 3,000 people and injuring another 5,000.
About 300 hotels received state incentives of up to $200,000 to repair and renovate properties damaged during the disaster, according to Mr Barrakad.
“The earthquake is behind us,” he said. “For the hospitality sector, we gave incentives to investors who want to renew their hotels,” he said.
Morocco last year opened 100 hotels, with major industry players such as the Ritz-Carlton and the Four Seasons opening properties in the country, he said.
The five pillars of Islam
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Results
2.30pm Maiden (PA) Dh40,000 1,200m
Winner Lamia, Tadhg O’Shea, Ernst Oertel.
3pm Handicap (PA) Dh40,000 1,000m
Winner Jap Al Afreet, Elione Chaves, Irfan Ellahi.
3.30pm Handicap (PA) Dh40,000 1,700m
Winner MH Tawag, Bernardo Pinheiro, Elise Jeanne.
4pm Handicap (TB) Dh40,000 2,000m
Winner Skygazer, Sandro Paiva, Ali Rashid Al Raihe.
4.30pm The Ruler of Sharjah Cup Prestige (PA) Dh250,000 1,700m
Winner AF Kal Noor, Tadhg O’Shea, Ernst Oertel.
5pm Sharjah Marathon (PA) Dh70,000 2,700m
Winner RB Grynade, Bernardo Pinheiro, Eric Lemartinel.
KILLING OF QASSEM SULEIMANI
Killing of Qassem Suleimani
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Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
Results
2pm: Handicap Dh 90,000 1,800m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.30pm: Handicap Dh120,000 1,950m; Winner: Just A Penny, Sam Hitchcott, Doug Watson.
3pm: Handicap Dh105,000 1,600m; Winner: Native Appeal, Pat Dobbs, Doug Watson.
3.30pm: Jebel Ali Classic Conditions Dh300,000 1,400m; Winner: Thegreatcollection, Adrie de Vries, Doug Watson.
4pm: Maiden Dh75,000 1,600m; Winner: Oktalgano, Xavier Ziani, Salem bin Ghadayer.
4.30pm: Conditions Dh250,000 1,400m; Winner: Madame Ellingtina, Richard Mullen, Satish Seemar.
5pm: Maiden Dh75,000 1,600m; Winner: Mystery Land, Fabrice Veron, Helal Al Alawi.
5.30pm: Handicap Dh85,000 1,000m; Winner: Shanaghai City, Jesus Rosales, Rashed Bouresly.
The Bio
Favourite Emirati dish: I have so many because it has a lot of herbs and vegetables. Harees (oats with chicken) is one of them
Favourite place to go to: Dubai Mall because it has lots of sports shops.
Her motivation: My performance because I know that whatever I do, if I put the effort in, I’ll get results
During her free time: I like to drink coffee - a latte no sugar and no flavours. I do not like cold drinks
Pet peeve: That with every meal they give you a fries and Pepsi. That is so unhealthy
Advice to anyone who wants to be an ironman: Go for the goal. If you are consistent, you will get there. With the first one, it might not be what they want but they should start and just do it
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Mohammed bin Zayed Majlis
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Scores in brief:
- New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
- William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
- Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
- Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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MATCH INFO
Manchester City 3 (Silva 8' &15, Foden 33')
Birmginahm City 0
Man of the match Bernado Silva (Manchester City)
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Fixtures
Tuesday - 5.15pm: Team Lebanon v Alger Corsaires; 8.30pm: Abu Dhabi Storms v Pharaohs
Wednesday - 5.15pm: Pharaohs v Carthage Eagles; 8.30pm: Alger Corsaires v Abu Dhabi Storms
Thursday - 4.30pm: Team Lebanon v Pharaohs; 7.30pm: Abu Dhabi Storms v Carthage Eagles
Friday - 4.30pm: Pharaohs v Alger Corsaires; 7.30pm: Carthage Eagles v Team Lebanon
Saturday - 4.30pm: Carthage Eagles v Alger Corsaires; 7.30pm: Abu Dhabi Storms v Team Lebanon
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
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SEMI-FINALS
Senegal v Tunisia, 8pm
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Matches are live on BeIN Sports
Our Time Has Come
Alyssa Ayres, Oxford University Press
