Increased tourism in Morocco

Efforts are being made to make Morocco one of the most convenient resort locations for European tourists, making it one of the hottest spots in the world for investment.

Since 2006 Morocco has experienced a 13% increase in the number of tourists. This puts the number of tourists at 7.45 million. These tourists in turn were responsible for infusing the area with US$7.7 billion dollars. The largest group of foreigners to visit the country were French followed closely by Spaniards. Due to increased tourism to the area the Minister of Moroccan Tourism and Craft Industry was able to state that tourism is now the chief source of investment and job creation.

Analysts do believe this development to be sustainable for quite some time. Nearby locations like Casablanca, Fez, Rabat and Tangier have also experienced growth. While their numbers are not as impressive as Morocco, these tourist destinations have become property investors hotspots that are only expected to grow among both French and Spanish investors.

2008 is expected to be more of the same for Morocco and surrounding destinations thanks to the efforts of the new king who has helped clean up the image of the city of Tangier. The city is considered to be one of the popular day-trip resorts just south of Spain's coast. With an agenda that further promoting tourism and investing heavily in Tangier's infrastructure, the monarch’s efforts will not go unnoticed by investors and visitors alike. Further into the future, the 15-year building project for a tunnel that links Spain and Morocco will make it possible for even more visitors to make their way into the city.

Property investors are expecting to see a steady increase in the value of their property as Morocco and Spain move toward becoming “closer” neighbours. Not only will more French and Spanish citizens be looking to purchase vacation homes in the area, but rental returns on the property will increase. As Moroccan property starts getting snapped up by early investors, the area could experience very high gains without steadily adding new available units.

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