Morocco on the crest of tourism wave
Official figures have revealed that visitor numbers in Morocco have gone up during the last 12 months. Foreign visitors are generating increasing amounts of wealth for the Moroccan economy.
Official figures recently revealed that during 2007, Morocco has attracted more than seven million foreign vacationers, although the government aims to increase the annual tourist numbers to be over ten million in 2010. The United Nations World Tourism Organization has stated that the number of international tourist arrivals in Morocco went up by more than ten per cent year-on-year during the first five months of 2008.
The Global Property Guide believes that growth in tourism “invariably” attracts the attention of overseas property purchasers and leads to a surge of interest in a tourism related real estate market.
Moroccan government is aiming to attract affluent property purchasers by investing in infrastructure improvements, new transport links and vacation facilities. The Extensive redevelopment should considerably raise the investment potential of the country, as demand for property is expected to grow.
The demand for commercial and residential premises is increasing in line with demand from tourists and expatriates for services and facilities. As a result, Morocco is considered a sound investment option by foreign investors who are planning to purchase a rental property overseas. Additionally, this could also lead to increase in property values and investors would be able to collect the proceeds of substantial capital growth.
This comes after a recent survey conducted by property investment magazine Jet-to-Let which revealed that Morocco is the sixth most popular country for prospective foreign property investors in 2008.
Popularity: 4% [?]
