Morocco’s Tourism Sector Awaits Recovery Plan as Banks and Industry Leaders Meet

The Groupement professionnel des banques du Maroc (GPBM) and the Confédération nationale du tourisme (CNT) held a session last Saturday, June 20, to refine a credit recovery plan in line with the needs of the tourism sector, which has been severely affected by the crisis.

The State, on the other hand, is not about to invest in the sector for its recovery. Despite the meeting held on Friday, June 19 between the Head of Government, Saad-Eddine El Othmani, the Minister of Tourism, Nadia Fettah El Alaoui, the President of the CNT, Abdellatif Kabbaj and representatives of the sector’s umbrella organizations, no direct state subsidy is planned, at least not before the vote on the amended finance law.

"The State is within its rights to express reservations about the private sector’s proposal to strengthen equity through a budget disbursement...", indicate the professionals in the sector who are betting on a 2020-2022 program contract, capable of strengthening the sector in the face of the considerable losses recorded in recent months of crisis.

Gradually, the horizon seems to be clearing for the sector, with the ongoing gradual deconfinement, which will allow the activation on June 25 of domestic flights and the reopening of hotel establishments at 50% of their reception capacity. However, caution remains the order of the day, "until the government has made public its budgetary recovery plan," said a hotel operator.