Study: 1 in 5 Moroccan Expats Financially Impacted by COVID-19 Crisis

A first for BCP-Ipsos. The experts from the two institutions chose a sample of 1,500 Moroccans of all ages, residing in 10 different countries where the popular central bank operates. The study report shows that the Covid-19 pandemic has had a negative impact on the incomes of MREs. The incomes of 20% of the Moroccans surveyed were severely affected in these times of coronavirus. The impact of the crisis on employment has led to large income losses for these MREs. This is the case for Moroccans living in Spain, Italy and the Middle East, who all work in the service sector, particularly in the restaurant and hotel industries.

Despite the impact of the coronavirus, MRE transfers have not experienced a slowdown. The survey shows that they have continued their transfers to Morocco. These transfers have even been maintained at a high rate. Foreign exchange transfers to Morocco strongly contribute to supporting the Moroccan economy, note the authors of the study, adding that this confirms the link between the Moroccan diaspora and their country of origin.

The survey also reveals that respondents traveled to Morocco at least twice a year under normal circumstances, while a good number of them plan to return to the kingdom permanently. On the investment side, about 45% of the target population would like to start a project in the kingdom.