At a recent meeting, the Tourism Minister of Morocco capitalized on the opportunity to discuss the economic and Gotha Casablanca policy, along with various aspects relating to the economic situation in Morocco and its correlation with the regional and international environment, as well as the opportunities and prospects for economic development for the years to come.
As part of the opening to this business world and Moroccan business event, Tourism Minister Lahcen Haddad, recently moderated at the Sun Club in Casablanca, a panel discussion on “Changes in the global economy and growth prospects.”
Mr. Haddad stressed the great advances of the Moroccan economy through the reforms under the leadership of His Majesty the King, both politically and economically. These reforms that have doubled the size of the national economy during the past two decades, positioning it as a competitive economy integrated in a diversified global economy.
Mr. Haddad has also noted the resilience of the Moroccan economy continued to show a fluctuating growth (an average of 4% since 2000) nevertheless characterized by its dependence on agricultural performance and natural hazards. He further clarified that alongside investment in the industry that brings value-added exports, the country must also invest in services to establish a true employment policy.
Mr. Haddad presented in this connection the importance of the tourism sector in the Moroccan economy at nearly 7% of GDP, nearly 5% of national employment, and 25% of foreign exchange reserves. It is clear that tourism is a sector on which Morocco must rely for sustained growth especially in employment.
For better positioning of the domestic economy, the challenges for Mr. Haddad consist of the establishment of a strategic vision targeting a sustained annual growth rate of 6% (for 20 years), to triple growth and eradicate poverty and vulnerability by 2030.
To achieve this goal, Mr. Haddad advocated investment in sectors that have substantial employers (NTIC, services, leisure, social entrepreneurship, tourism, media, etc.) and reiterated that the real creation of wealth and jobs is in the economy of the tourism industry services, citing in this connection the example of Spain and Portugal.
Information technology in particular must also seize opportunities for investment in the green economy and promoting research and development in this sector. Morocco must continue on the path of sustainable development and be fully involved in a green economy logic to realize its leading position in the region.
Digitalization is also an opportunity to seize as a new social revolution with significant potential for job creation.
Morocco must also succeed in education reform in order to make a strong link in the social and economic progress of the country as a model of good governance of the education system. This commitment will capitalize on Moroccan youth with a proposal force that contributes to the implementation of public policies.