Morocco Eyes $1.2 Billion Boost from 2030 World Cup Co-Hosting

Co-hosting the 2030 World Cup will bring Morocco colossal financial revenues of around $1.2 billion and impact several sectors, it is predicted. It will generate huge jobs for young people, contribute to the revitalization of tourism, through the stimulation of investments and the strengthening of infrastructure. It will be beneficial for the kingdom, whether before, during or after this global event, assures the economic consultant and expert Mohammed Jadri to Al3omk. With its many partners, Morocco will launch a set of investments, whether in infrastructure such as roads, hotels, stadiums, and air and maritime transport, which will create a large number of jobs, he adds. Many tourists will want to visit Morocco after this football celebration, which will be reflected in the job market in the kingdom, he estimates. Consequently, this event is a real opportunity for an economic takeoff, especially since the objective is to increase the gross domestic product by 2035 to reach $260 billion, he concludes.

Economic analyst Omar Kettani does not quite agree. According to him, these investments could be of a capitalist rather than operational nature. In other words, the announced investments are directed towards infrastructure, with generally medium or long-term returns. It is therefore necessary to distinguish between lucrative capitalization and investments, which are mainly aimed at absorbing disguised unemployment and integrating workers in the informal sector, which hosts 3 million citizens, he argues. If Morocco encourages foreigners to visit the country by organizing a series of international events, certain phenomena such as begging nevertheless constitute an obstacle to the success of this initiative, analyzes the expert. "This shows that we are encouraging tourism on the one hand and fighting it on the other, especially since tourists do not accept the proliferation of such phenomena," he continues.

Kettani insists on the need for Morocco to adopt a social economic policy. "We have capitalist policies based on major investments, such as basic, especially sports, infrastructure," he points out. According to these explanations, social investments have emerged through the social coverage project and the construction of hospitals, but it was decided to sell these hospitals. "The social sector based on a rentier, capitalist, exploitative and monopolistic mentality cannot employ many people," says the expert. While admitting that the Moroccan economy will continue to generate revenues, he has stressed that these benefits will not exceed 3.5 to 4% of national economic growth, due to the lack of investment in human beings, particularly in rural areas, which represent 40% of the population, and whose inhabitants depend on agriculture.

The social sectors are not profitable for the private sector, and Morocco’s social problems, mainly poverty, unemployment and marginalization, will not be solved by a commercially and profitably oriented capitalist government, the expert added.