Morocco Unveils Emergency Measures to Rescue Struggling Tourism Sector

Questioned during the National Council of the Enterprise (CNE) on the worrying economic situation of tourism companies, Alaoui declared: "we share the concern with you", noting that all the ambitions to revive the tourism sector have been thwarted by the evolution of the health situation.

Morocco has invested alongside operators for years to build the tourism industry and build a hotel park. "About 50% of the park has never opened since March 2020," she revealed, expressing her concern.

In the face of this situation, the minister has proposed measures to preserve the sector in the short and long term. Regarding the implementation of an exceptional mechanism requested by the operators, the minister indicated that "there are short-term measures for this moratorium, as long as we are not working", recalling that the ministry had met with the Professional Group of Moroccan Banks (GPBM) to discuss these issues, that it "is mobilized and largely aware of the situation".

As for the second point, it concerns investment. "I think that many operators, in all responsibility, are investing and we salute the effort," said the minister. And to continue: "now we need equity solutions".

Moreover, "the Mohammed VI fund will have a compartment dedicated to tourism," she said, specifying that discussions have been held around equity and quasi-equity products with an ad hoc profile. "All of this needs to be implemented quickly."