After its deadliest earthquake in more than 60 years, Morocco is calling on investors to inject capital into its tourism sector, with opportunities ranging from developing beach resorts to building theme parks.
The North African country is seeking to double the amount of investment in its tourism industry to $2 billion a year by 2026, Imad Barrakad, chief executive of the Moroccan Agency for Tourism Development, told The National on the sidelines of the Future Hospitality Summit in Abu Dhabi.
It currently attracts $1 billion in tourism investments each year, with 80 per cent from domestic investors and 20 per cent from abroad.
To incentivise new investors, Morocco is offering up to 30 per cent cash-back on capital expenditure (capex) on tourism projects, he said.
The goal is to attract 17.5 million tourists by 2026 and 26 million by 2030, Mr Barrakad said. That is up from 11 million visitors last year and 13 million in 2019, before the Covid-19 pandemic.
Morocco aims to create 200,000 new jobs in the tourism sector by 2026 and generate $12 billion in foreign exchange earnings, up 1.5 times from 2019 levels, he said.
The plans are part of its new 2023-2026 strategic road map to revive the country's travel and tourism industry, raising the sector's contribution to gross domestic product to 10 per cent by 2026 from 7 per cent currently.
"Morocco has a lot of tourism potential, we have a lot of opportunities in desert areas, in coastline areas, in national parks," Mr Barrakad said, adding that existing investors are focused on big cities with Unesco-listed monuments.
People who are coming to invest in Morocco will find competitive infrastructure, profitability and opportunity
Imad Barrakad,
chief executive of the Moroccan Agency for Tourism Development
"What we are trying to do is to diversify investments into projects along the coastline. We don't have a lot of beach tourism developed enough, so what we're trying to sell is the opportunity for resorts in these areas."
Morocco is also seeking investments in leisure attractions to draw more visitors from around the world and expand its portfolio of 300,000 hotel beds, he added.
"People who are coming to invest in Morocco will find competitive infrastructure, profitability and opportunity," he said.
"But our main competitive advantage is our hospitality, like all Arab and Islamic countries, to all people coming to our country."
Earthquake impact on tourism
Morocco is in the midst of grappling with the damage and debris after a 6.8-magnitude earthquake struck 70 kilometres south-west of the tourist city of Marrakesh on September 8.
The epicentre was in the Atlas Mountains, an area home to many isolated villages with no road access, which is where the most devastating damage took place.
The Atlas Mountains are also a popular tourist destination.
Asked about the impact on hotels and the number of visitors, Mr Barrakad said: "The earthquake impacted rural areas, about 100 kilometres from Marrakesh ... things are coming back now to normal and we're planning to build what has been destroyed by this earthquake."
Morocco plans to spend $11.7 billion in a post-earthquake reconstruction programme over the next five years, the Royal Palace said on September 20.
While there are postponed reservations to Marrakesh, tourists are still coming to Morocco, Mr Barrakad said.
"We are still working to improve tourism," he said.
"We hope that the tourism investment will be there at the right moment to help people because a lot of people's livelihoods depend on tourism."
Wooing GCC investors
From a GCC perspective, Morocco is wooing all investors, from family offices to sovereign wealth funds, with discussions ongoing, Mr Barrakad said.
"They're all welcome," he said.
"There is high interest but at the end of the day people doing business are looking at the country risk and the risk of this kind of investment."
In June, the UAE said a high-level delegation, led by Abdulla bin Touq, Minister of Economy, will visit Morocco to discuss boosting bilateral co-operation, investment flows and economic partnerships.
The sectors in focus include tourism and infrastructure, energy and renewable energy, industry, trade and mining, information and communications technology, food security, transport and logistics, agricultural technology, entrepreneurship and others that will support the future economy.
Non-oil foreign trade between the two countries amounted to Dh3.6 billion ($980 million) in 2022, up 16 per cent from 2021, according to official data.
While the main focus is on Gulf investors, Morocco is also talking to investors in Asia and Africa to attract capital flows into its tourism sector, Mr Barrakad said.
"The main message is this: If you're investing in Morocco, you're investing in stability, in a country that is in the middle of the world's crossroads," he said.
Marrakesh is set to host the International Monetary Fund and World Bank's annual meetings on October 9.
"It's an amazing moment and Marrakesh will make the Arab world proud," Mr Barrakad said.
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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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).
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Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
