Latest news with #ForeignExchangeOffice
Morocco World
07-05-2025
- Business
- Morocco World
Morocco Welcomes 5.7 Million Tourists in First Four Months of 2025, Up 23%
Rabat – Morocco received 5.7 million tourists in the first four months of 2025, representing a 23% increase compared to the same period in 2024, according to the Ministry of Tourism, Handicrafts, and Social and Solidarity Economy. The ministry described the performance as 'exceptional,' noting that this rise means one million more tourists visited Morocco during the first part of the year. This strong growth places Morocco among the world's most dynamic tourist destinations, it added. April 2025 alone saw the arrival of 1.7 million tourists, a 27% increase compared to April 2024. The ministry said this reflects Morocco's growing appeal and its ability to attract visitors beyond the traditional high season. Tourism Minister Fatim-Zahra Ammor said the arrival of one million extra tourists during a period usually considered quiet signals a promising season ahead. 'These outstanding results show the success of the tourism roadmap launched by the government under the wise leadership of His Majesty King Mohammed VI,' she said. 'This strategy focuses on promoting Morocco's unique strengths and building a strong base for sustainable tourism growth.' A report recently released by the Foreign Exchange Office showed that Morocco earned MAD 24.62 billion in tourism revenue during the first quarter of 2025. The country welcomed 4 million tourists between January and March. This represents a 2.4% increase in tourism revenue compared to last year. The report comes as Morocco takes major steps to strengthen its tourism sector. Since the end of the COVID crisis, the country has invested heavily in upgrading airports and improving infrastructure across key destinations. These efforts aim to provide a better travel experience for tourists and support the growing number of international arrivals. Morocco's tourism office is also forming partnerships with airlines to boost air connectivity. With major sports events like the 2030 World Cup, which Morocco will co-host with Spain and Portugal, the country sees a big opportunity to showcase its attractions to a global audience.
Morocco World
01-05-2025
- Business
- Morocco World
Morocco Earns MAD 24.6 Billion from Tourism in First Three Months of 2025
Rabat – Morocco earned MAD 24.62 billion in tourism revenue during the first quarter of 2025, according to a report released by the Foreign Exchange Office on Wednesday. The country welcomed 4 million tourists between January and March. This represents a 2.4% increase in tourism revenue compared to the same period last year. According to the Ministry of Tourism, Handicrafts, and Social and Solidarity Economy, the number of tourists increased by 22% compared to the first three months of 2024. Of the 4 million visitors, 2.1 million were foreign tourists and 1.9 million were Moroccans living abroad. In 2024, Morocco recorded a total of 17.4 million tourist arrivals, a 20% increase from 2023, with 3 million more visitors. Last year's tourism revenue reached MAD 112.48 billion, showing a growth of 7.5% from 2023, when it stood at MAD 104.67 billion. Minister of Tourism Fatim-Zahra Ammor said that these visitors contributed a total of $11.2 billion to the economy, 'a remarkable 43% jump from pre-pandemic levels.' 'This is proof that our country's blend of authentic heritage and innovative spirit resonates globally,' the minister said. She added that these figures mean 'more jobs, thriving local businesses and new exciting opportunities across our beautiful country.' This growth reflects rising interest in Morocco as a top tourist destination from both foreign tourists and members of the Moroccan diaspora. The number of foreign tourists in 2024 rose by 23% to reach 8.8 million, while the number of Moroccans living abroad who visited increased by 17% to 8.6 million.
Morocco World
05-02-2025
- Business
- Morocco World
Morocco's Coffee Import Costs Spike by 74% Amid Rising Global Prices
Rabat - Morocco's coffee import costs saw a sharp rise last year, increasing by around 74% due to higher global prices. According to data from the Foreign Exchange Office's monthly report, the country spent MAD 2.6 billion on coffee imports in 2024, compared to MAD 1.5 billion in 2023. The quantity of imported coffee also increased from 47,000 tons to 58,000 tons, the report added. The country mainly imports two types of coffee; Robusta and Arabica. Robusta, which is cheaper, is the most consumed type in Morocco, making up 80% of total imports. Robusta coffee represents between 40 and 45% of global coffee production. Meanwhile, the more expensive Arabica, which constitutes most of the remainder, accounts for 20% of Morocco's total coffee imports. Morocco imports green coffee beans (before roasting) from Brazil, Colombia, and Costa Rica in Latin America, as well as Vietnam and Indonesia in Asia. The country also buys coffee from Uganda, Ivory Coast, Tanzania, and Guinea. Meanwhile, roasted coffee is mainly imported from Spain and Italy. Coffee prices hit their highest levels in international markets at the end of last year. The rise in prices was attributed to poor harvests in major coffee-producing countries, which affected prices in importing countries like Morocco. Coffee traders expect crops to further shrink after Brazil and Vietnam, the world's two largest coffee producers, were hit by bad weather. Despite the high imports, coffee consumption in Morocco remains low, with the average person consuming less than one kilogram per year (0.8 kg), according to Mohamed Astayeb, president of the Moroccan Association of Tea and Coffee Manufacturers.
