6. The good life
Morocco’s exemplary tourism offering and quality of life are crucial factors in attracting global investment. With new infrastructure and accommodation options added to a rich history, culture and cuisine, the country has developed into a top-tier international destination.
New incentives
SMIT
The Moroccan Agency for Tourism Development (SMIT) operates as an incubator and investment body.
Since it was founded in 2007, SMIT has supported more than 300 young businesses in areas including cultural entertainment and experiences. Tourists will still find plenty of the old spirit of Morocco in its medinas and museums, alongside newer attractions including hot-air balloon rides over Marrakech and an upcoming futuristic theme park. The country is targeting 26 million annual tourists by 2030, the same year it will co-host FIFA World Cup, a “major accelerator” of the current growth in the sector according to SMIT’s CEO, Imad Barrakad. Few countries offer tourists the chance to experience so much within a single trip, he adds. Global hotel brands including Hilton, Radisson and Four Seasons have arrived in the past decade, opening alongside new local boutique offerings. The 2023 Investment Charter has made Morocco’s hospitality sector even more attractive for foreign investors, offering incentives including tax breaks and simplified land and property purchases. Today, says Barrakad, it is “more competitive, diverse and resilient than ever before”.
