Morocco Tourism Revenue Surges 21% Despite Trade Deficit Concerns

The increase thus reaches 21.2% year-on-year, or 7.780 billion additional dirhams compared to the same period in 2025. This rebound confirms the growing weight of tourism in the Kingdom’s foreign currency inflows.

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Travel expenses, which notably correspond to sums spent abroad, also increased, but in much more limited proportions. They stood at 9.840 billion dirhams by the end of April 2026, compared to 9.340 billion a year earlier, representing a 5.4% increase.

Thanks to this favorable gap between receipts and expenses, the travel balance improved significantly. It reaches 34.552 billion dirhams over the first four months of 2026, compared to 27.272 billion dirhams by the end of April 2025. The increase is 26.7%, or 7.280 billion dirhams more.

This performance confirms the central role of tourism in Morocco’s external balance. In a context where the trade deficit continues to widen, revenues generated by travel allow compensation for part of the pressure exerted by the increase in imports.

Tourism thus appears, along with transfers from Moroccans residing abroad, as one of the main supports for the country’s foreign currency inflows. By the end of April 2026, these transfers also increased, reaching nearly 40 billion dirhams.

The improvement in travel receipts occurs as service exchanges also display a positive trend. Service exports increased by 13.9% year-on-year, while the services balance surplus increased by 16.4%.

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These figures confirm that tourism remains one of the most solid engines of Morocco’s economy in 2026. The dynamics observed over the first four months of the year show enhanced capacity of the sector to generate foreign currency, in an external environment marked by a sharp increase in goods imports.