Moroccan Diaspora Remittances Surge 46%, Boosting National Economy

Over the years, the windfall from MREs has been consolidating. Money transfers have increased from 6.3 billion dirhams at the end of January 2022 to more than 9.22 billion at the same period in 2023, a strong increase of 46.3%. Part of this windfall is intended for family assistance, a firmly rooted tradition that has been strengthened during the Covid-19 pandemic, says Karim Amor, president of the group of Moroccan Entrepreneurs of the World (MeM) by CGEM (General Confederation of Moroccan Enterprises) to Inspirations Éco. About 75% of these transfers allow relatives to live in the country.

In the eyes of the 5.4 million MREs in 2020, for a total population living in Morocco of around 36.7 million, their country of origin is a thriving land of opportunities. Thus, they invest 8% of these funds in real estate and directly allocate 2% of these funds to productive investments, the impact of which is not negligible. Similarly, they place 15% of these flows in savings accounts. These investments could increase in the coming months. "The realism of the national economic situation, encouraged by the leadership of the king, encourages Moroccans of the world to invest more in their homeland to seize these opportunities," notes the newspaper.