Morocco Woos Spanish Hotel Chains with Tax Breaks to Boost Tourism

23 February 2020 – byBladi.net · 1 min read

Revitalizing the tourism industry on the Mediterranean and Atlantic coasts on the one hand, and developing the economy growing at rates of 4%. This is the goal pursued by Morocco, which intends to attract greater investment from hotel chains in the Balearic Islands.

"There are tax incentives, such as a 0% tax rate on new companies for the first five years of operation, and 17.5% thereafter, and a reduced 10% VAT on accommodation services financed by the State," announced the Economic and Commercial Counselor, Aziz El Atiaoui, during an institutional meeting in the Balearic Islands, carried out by a team from the Moroccan Embassy in Spain.

Leading the delegation, the Moroccan Ambassador to Spain, Karima Benyaich, placed particular emphasis on the advantages her country offers investors in areas such as industry, agriculture and especially tourism.

Currently, Meliá, Riu, Iberostar and Barceló have about twenty hotels in the country. This is thanks to tourism, which has increased in recent years, reaching more than 12 million people per year today.

Mohamed Amine El Jaouhari, in his capacity as general manager for Spain of Royal Air Maroc, recalled that since December, the company has been cooperating in partnership with Iberia and Vueling, and all the airlines of the One World Alliance. This is in order to operate with a single ticket from Palma and Eivissa to the main airports located in the Moroccan tourist area.

Category: Economy

Keywords:

Tourism