[Economics] Morocco’s Tourism Revenues Hit $6.74 Billion in October

[Dark-ImmoRtal]

 

 

Rabat - Morocco’s travel revenues reached MAD 71.10 billion, or $6.74 billion at the end of October, according to new data from the Foreign Exchange Office.

The number represents an increase of MAD 42.37 billion ($4 billion)  compared to the same period in 2022.

The data also exceeded the level reached at the end of October 2019 (MAD 67.02 billion or $6.35 billion).

The new statistics reflect the ongoing recovery of the tourism sector, which has been one of the most impacted industries due to the COVID-19 crisis.

Tourism expenses stood at MAD 13.38 billion at the end of October, maintaining a lower level than in 2018 and 2019 prior to the COVID-19 crisis.

 

 

Travel balance almost tripled to reach MAD 57.72 billion ($5.46 billion) at the end of October 2022 against MAD 19.89 billion ($1.88 billion) a year earlier.

Morocco’s Tourism Minister Fatim Zahra Ammor said last month that the country’s tourism industry reached a recovery rate of 80% at the end of October, exceeding the global level which stands at 70%.

Morocco’s tourism revenues in foreign currency rose to 103% at the end of September compared to pre-COVID figures in 2019, she added.

Overnight stays [tourist accommodation] have risen from 30% before the pandemic, to 45% as of late September, the minister said, stressing the government's commitment to supporting the sector’s recovery.

 

 

https://www.moroccoworldnews.com/2022/12/352765/moroccos-tourism-revenues-hit-6-74-billion-in-october