Morocco’s tourism revenues up 18.1 per cent

As per the recent statistics, Morocco’s tourism revenues has jumped 18.1 per cent year on year to $2.1 billion in the first four months of 2018. The statistics were published by the country’s foreign exchange regulator.

Between January and April, remittances from around 4.5 million Moroccans living abroad posted a 13 per cent increase to $ 2.11 billion  compared with $ 1.85 billion during the same period previous year. Tourism revenues and remittances from Moroccans living abroad are the main sources of foreign currency reserves for Morocco.

On the other hand, foreign direct investments in Morocco dropped by 17.1 per cent to $ 676 million from $ 816 million in the first four months of last year. The increase was underpinned by the surge of Morocco’s major tourism markets: Germany (11 per cent), Spain ( 26 per cent), France (15 per cent), and United Kingdom (15 per cent).