(Posted 29th October 2024)
Morocco’s hospitality sector takes global centre stage New Morocco Showcase Summit – the country’s premier international platform dedicated to hotel and tourism investors
With major tourism events on the horizon, the demand for world-class accommodations is soaring, creating a prime opportunity and pipeline to tap into this burgeoning market across key segments
As Africa’s fastest-growing hospitality market, Morocco, prepares to co-host the FIFA 2030 World Cup with its European neighbours Portugal and Spain, the country is shining a spotlight on its thriving hospitality market and the initiatives and incentives in place to attract further investment.
The inaugural “Morocco Showcase Summit: Tourism, Hospitality, Invest” is taking place at the Marriot Hotel, Casablanca, from 19 to 20 November, bringing together international investors, developers, financiers and hospitality leaders to explore the vast opportunities in this dynamic market. A collaboration of Société Marocaine d’Ingénierie Touristique (SMIT) and API Events, the bilingual English and French gathering will explore Morocco’s innovative funding programmes and strategic infrastructure investment opportunities that are designed to double the country’s tourism arrivals to 26 million by 2030.
Morocco’s hotel sector is on the rise and modernising, fuelled by the country’s rich cultural heritage, stunning natural beauty, bridge between Europe and Africa and the America’s, and a business climate conducive and attractive to investment. With major tourism events on the horizon, the demand for world-class accommodations is soaring, creating a prime opportunity and pipeline to tap into this burgeoning market across key segments.
SMIT, the Moroccan agency for tourism development, has launched several proactive initiatives to attract investment in the hotel sector. From attractive incentives such as the CAP Hospitality Fund to partnerships with investment promotion agencies and global hotel investors and brands by supporting hospitality development, these initiatives aim to bolster Morocco’s tourism strategy and drive economic growth.
“Now is the ideal time to invest in Morocco’s hospitality market,” says Mr Imad Barrakad, chairman and CEO of SMIT. “The country is experiencing a surge in tourism and SMIT is committed to supporting hotel and leisure developments. Investors who enter the market now can reap the benefits of this trend and establish a strong market foothold before one of the world’s biggest events boosts Morocco’s tourism even more.”
The Morocco Showcase Summit is a catalyst for deal-making and learning about the opportunities and incentives available. The event will give over 300 international investors, hoteliers and tourism leaders from 15 countries a platform to engage and network with government officials, industry experts, and potential partners. Leading players will be in attendance, including Accor, Westmont, Radisson Hotel Group, Barcelo Hotel Group, Wyndham Hotels & Resorts, Atlas Hospitality, Minor Hotels, Tui Blu, Risma, Kasada Capital Management and Kenzi Hotels, to name a few.
“We’ve been convinced for a long time at Accor that Morrocco is a great land of hospitality, open to foreign investors and offering exceptional opportunities. We are delighted to partner with The Morocco Showcase Summit to support this vision,” says Philippe Bijaoui, Chief Development Officer Accor, Europe & North Africa.“We are determined to accelerate our development in the country and leverage on the opportunities offered by the leisure destinations”.
“We invite investors and stakeholders from around the world to explore the vast potential of Morocco’s hospitality market,” added Murray Anderson-Ogle, Managing Director for API Events. “The Morocco Showcase Summit will highlight the country’s investment-ready projects, introduce investors to key local and private sector stakeholders, and focus on the advantages of investing in this dynamic market, which includes access to deep capital markets; a stable and strong currency; soaring demand and critical infrastructure needed to cater for millions of new tourist arrivals as the country builds to the 2030 FIFA World Cup. With Morocco already surpassing South Africa in numbers of visitors in 2024 and confirmed as Africa’s second most popular tourist destination, the opportunity for strategic investors is now as the hospitality and tourism sector expands with the support of SMIT and achieves its target of 26 million visitors by 2030.”
For more information about the conference and to register, please visit https://www.apievents.com/morocco/#prId=322011
