November 20     Morocco's tourism sector is experiencing unprecedented growth in 2024. The country welcomed 14.6 million visitors by October, surpassing the entire 2023 record in just ten months. This remarkable achievement represents a 19% increase from the previous year. Foreign tourists drove this growth with a 22% rise, while Moroccan expatriates increased by 16%.

November 14      Morocco's booming EV battery industry positions the country to become an export hub to the EU and the US by 2030, said a report. Morocco could competitively produce and export LFP batteries to Europe by 2030 at USD 68-72/kWh. 

November 14      Gotion High-Tech has secured EUR300 million (USD316.4 million) worth of investment from Caisse de Depot et de Gestion, the biggest public financial investment body in Morocco, which will go towards the construction of the first super-sized factory for electric car batteries in the North African country. 

November 9        The 2024 census showed that Tangier has become Morocco's second largest city, out populated by Casablanca and followed by Fez. Casablanca retained its standing as the most populous city with 3.23 million, followed by Tangier (1.27 mln), according to a census that put Morocco’s population at 36.8 million people. 

November 4         Despite a challenging global economic landscape, Morocco has managed to sustain its economic growth and strengthen its position in key sectors. Morocco has shown resilience, achieving a growth rate of 3.4% in 2023, with an average growth of 4.4% over the last three years.

November 2         Morocco's foreign direct investment inflows went up by 50.7% in the first nine months of 2024, reaching over 16.34 billion dirhams ($1.6 billion). 

November 1         Shandong Daye, a leading Chinese manufacturer of steel wire for tires, has unveiled plans to invest $208.5 million in a new production facility in Morocco's Tangier Tech industrial zone. 

October 31      Morocco's tourism industry has made significant strides, with the country climbing an impressive 10 spots in the World Tourism Organization’s global ranking of tourism revenues. The Ministry of Tourism announced that Morocco rose from 41st to 31st place between 2019 and 2023, showcasing the sector’s dynamism and resilience.   

October 25       The Moroccan government is poised to significantly enhance its motorway infrastructure, with an ambitious investment plan set to reach MAD7.74 billion (approximately $735 million) between 2025 and 2027.

October 22       Morocco is consolidating its appeal as a prime destination for foreign direct investment, with a growing focus on the automotive and green hydrogen sectors. Notably, Chinese tech giant Gotion announced plans in June 2023 to invest $6.4 billion in building an electric vehicle battery manufacturing plant. 

October 22        Morocco is poised for a steady economic rebound, with growth expected to reach 2.8% this year and 3.6% in 2025, according to new projections by the International Monetary Fund. 

October 16        According to a new report by the World Bank and the Moroccan Observatory of Very Small, Small, and Medium Enterprises (Observatoire Marocain de la TPME), the business survival rate in Morocco is estimated at 53% after five years.

September 26, The European Bank for Reconstruction and Development (EBRD) forecasts a 2.9% growth for Morocco's economy in 2024, fueled by robust activity in the manufacturing and tourism sectors. 

September 21, Morocco is experiencing a notable rise in foreign direct investment (FDI) in 2024, as evidenced by recent data from the Moroccan Foreign Exchange Office. Net FDI inflows for the first seven months of the year exceeded 13.06 billion dirhams (approximately $1.34 billion), reflecting a substantial increase of 46.8% compared to the same period in 2023.

September 12, The Moroccan government approved a decree to expand the “Tangier Automotive City” (TAC) in the export Free Zone. The expansion will increase the area of the current zone from 517 hectares to 1,185 hectares, nearly doubling its size to accommodate growing investor interest in the region.

September 12, Morocco has recently surpassed China to become the European Union’s top automotive trading partner, marking a significant development in the country’s industrial growth. With automotive exports to the EU valued at €15.1 billion in 2023, Morocco edged out China, whose exports reached €13.6 billion.

September 11, Morocco has moved up one spot to become the third most attractive country for trade in Africa, according to a recent report by Bloom Consulting. The country now trails only South Africa, which holds the top position, and Nigeria, which ranks second.

August 25, Morocco has experienced a significant 40% drop in foreign direct investment (FDI) in 2023, receiving approximately MAD 19 billion ($1.9 billion) compared to MAD 31.4 billion ($3.14 billion) in 2022. Despite this setback, the Moroccan government remains optimistic, emphasizing efforts to diversify investment sources and modernize the economy.

August 25, Recently, French consulting firm Ipsos conducted an online survey to understand the purchasing habits of Moroccans. 500 netizens aged over 18 from different cities in Morocco participated in this survey. A survey shows that despite rapid digital development, Moroccans generally prefer offline shopping and pay attention to offline purchasing behavior and promotional activities. 

August 16, Morocco’s electric vehicle battery ecosystem is gaining momentum with the announcement of a new $363.5 million investment to be injected by China’s BTR New Material Group in its second plant to be built in Mohammed VI Tangier Tech City.

August 13, Moroccan flag carrier Royal Air Maroc said it will resume direct flights linking Casablanca and Beijing starting 20 January 2025. The airline will operate three flights weekly between Morocco and China, after nearly a five-year halt suspension due to the Covid 19 pandemic.

August 2, Moroccan, which is currently Africa's top car producer, is set to witness a major boost that will see the country double its car production capacity to 1.5 million cars by 2026.

July 25      Morocco has emerged as a dominant force in Africa's automotive industry, surpassing South Africa to claim the title of the continent's largest car producer. The North African nation's automotive industry has surged in recent years, fueled by significant investments and strategic partnerships with global automakers.    

July 23       Morocco announced a 40% increase in airline seats this year as the country continues to pledge more efforts to boost its tourism industry. Minister of Tourism said that this development follows a 22% increase achieved in 2023.

July 19       According to a recent World Bank report, Morocco's economy showed resilience in 2023 with a 3.4% increase in real production. However, the report forecasts a slowdown in growth to 2.9% in 2024. 

July 18      Morocco invests an average annual investment of MAD 18 billion ($1.8 billion) to upgrade its road infrastructure. Minister of Equipment said that the road operation and safety programs are at the forefront of the ministry’s concerns. 

July 17      As economic pressures continue to tighten their grip on Moroccan families, a staggering 90.2% of households find themselves unable to save for the future, according to the latest findings from the High Commission for Planning (HCP).The survey results revealed that over half of households are anticipating a decline in their standard of living over the next 12 months, with over 30% expecting a stable financial situation.

June 24     Moroccans are embracing the mobile revolution with open arms, as evidenced by the skyrocketing number of mobile phone subscriptions. According to a recent report by the Directorate of Financial Studies and Forecasts (DEPF), over 55.4 million Moroccans were connected by mobile phone in the first quarter of 2024, a staggering 4.8% increase compared to the same period last year.

June 21    Casablanca is the leading North African city in the Global Cities Index 2024 by Oxford Economics. The city has been ranked 442nd out of 1,000 cities in the latest ranking. 

June 19    Casablanca and Rabat, two of Morocco’s major cities, are among the least expensive places for expatriates to live in the Middle East and North Africa region. According to the latest cost-of-living survey by Mercer, Casablanca is ranked 153rd and Rabat 173rd out of 226 major global cities. 

June 14     Only one-third of Moroccans hold a positive view of their country’s economic situation, according to a recent survey by the Arab Barometer. Conducted from December 2023 to January 2024, the survey attributes Moroccans’ low confidence in the national economy to the enduring financial pressures four years after the outbreak of the coronavirus pandemic.

June 7     Gotion High-tech, the Volkswagen-backed Chinese battery giant, will build Morocco's first electric vehicle battery gigafactory for a total cost of 12.8 billion dirhams ($1.3 billion), the Moroccan government said. 

May 23      Minister of Tourism said in an interview that Morocco has launched plans to promote Morocco as a tourism destination with the goal of welcoming 26 million tourists by 2030.

May 16      In a new report published, the European Bank for Reconstruction and Development projected an annual growth rate of 3% for Morocco’s economy in 2024.

May 15       The demand of Moroccans for electric cars remains limited due to technical reasons and consumption culture, with gasoline and diesel cars continuing to dominate the national market. The cost of batteries used in electric cars significantly impacts Moroccan consumer interest despite the remarkable increase in foreign investments in this sector, particularly from China.

May 10       The Ministry of Tourism reported that Morocco’s tourism sector recorded a record number exceeding 1.3 million tourists by April 2024, recording a remarkable growth of 17 % compared to April 2023.

May 6        Morocco’s unemployment rate has surged to a 25-year high of 13.7% in the first quarter of 2024, driven by a prolonged drought, the informal sector’s expansion, outdated data collection and unreported employment, according to a recent Bloomberg report.

May 6       Spanish newspaper Atalayar revealed that Morocco has surpassed China, Japan, and India to become the main exporter of the automotive sector to the European Union. The kingdom uses modern factories, industrial complexes, qualified employees and low production costs to create a strong commercial landscape, with a production turnover that reached more than 535,000 cars.