| Morocco: Investment Potential 2007 |
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Page 1 of 2  With a new 'open skies' policy bringing in low-cost flights, a €2.2 billion government investment in infrastructure and a growing reputation as a playground for the rich and famous, Morocco is on course to almost double tourist numbers by 2010, presenting an excellent opportunity for overseas property investors.Moroccan tourism has been growing steadily since the turn of the century, with visitor numbers standing at 6.5 million in 2006, a rise of 12% on the previous year. Meanwhile, Morocco's revenue from tourism rose 30% to reach 53 billion dirhams (approximately £3.2 billion), according to the Minister of Tourism and Craft Industries, Adil Douiri. This is largely thanks to King Mohammed VI's Azure Plan and Vision 2010, which aims to increase tourism to ten million visitors by 2010, providing 20% of GDP (Source: Financial Times). This includes a major investment in transport, facilities, and services, including the introduction of new tourism opportunities such as golf. Naturally, the growth of the property sector will expand as a direct beneficiary of these positive developments. If you choose to invest in the potential of the Moroccan property market, you will certainly be in good company. According to the Financial Times, "Morocco is experiencing a booming property market, and one particular area of growth is luxury property." Richard Branson, members of The Rolling Stones, Malcolm Forbes, and David Beckham are just some of the world's rich and famous who have bought property in the country, keeping its media profile as hot as its weather and fuelling further demand. |
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