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Morocco Hospitality Industry Market Size (2024 - 2029)

The Morocco Hospitality Industry is poised for growth, with its market size expanding significantly over the forecast period. The sector has been resilient, recovering from the impacts of the COVID-19 pandemic, which necessitated the reopening of borders for business and leisure travel. The increasing influx of tourists has bolstered the tourism industry, making it a vital contributor to the national economy. Morocco's reputation for high-quality accommodation and its strategic position in the MENA region have further enhanced its appeal, attracting international hotel brands and investment.

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Market Size of Morocco Hospitality Industry

Morocco Hospitality Industry Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.83 Billion
Market Size (2029) USD 1.10 Billion
CAGR (2024 - 2029) 5.89 %
Market Concentration Low

Major Players

Morocco Hospitality Industry

*Disclaimer: Major Players sorted in no particular order

Morocco Hospitality Market Analysis

The Morocco Hospitality Industry is expected to grow from USD 0.83 billion in 2024 to USD 1.10 billion by 2029, at a CAGR of 5.89% during the forecast period (2024-2029).

The Moroccan government has implemented several measures to stimulate tourism, including improving infrastructure, reducing taxes, and simplifying visitor procedures. These actions have created a favorable investment environment, increasing foreign tourist arrivals and local employment opportunities. The Moroccan tourism industry is anticipated to recover from the economic downturn, resulting in higher visitor numbers and improved national prosperity. A key driver of market growth is the trend toward local and authentic travel experiences. Travelers increasingly seek alternatives to traditional tourism, opting for more genuine local encounters. This shift is expected to gain momentum as tourists become more environmentally conscious, potentially driving market growth in the coming years.

According to a report by Anniver, Morocco experienced a 41% increase in arrivals from various countries compared to the previous year. France, Spain, and the United Kingdom led this growth with gains of 33%, 45%, and 41%, respectively. Arrivals from Poland and China more than doubled, indicating Morocco's growing appeal across diverse global markets.

Morocco Hospitality Industry Segmentation

Hospitality involves welcoming and entertaining guests in a manner that ensures they feel well cared for. It leverages ambiance, service, and products or amenities to provide guests with the best experience possible. The hospitality market in Morocco is segmented by type and segment. By type, the market is segmented into chain hotels and independent hotels. By segment, the market is segmented into service apartments, budget and economy hotels, mid- and upper mid-scale hotels, and luxury hotels. The report offers market size and forecasts for the Moroccan hospitality industry in value (USD) for all the above segments.

By Type
Chain Hotels
Independent Hotels
By Segment
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid-scale Hotels
Luxury Hotels
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Morocco Hospitality Industry Size Summary

The Morocco hospitality industry is poised for significant growth over the forecast period, driven by an increase in tourist arrivals and a robust pipeline of hotel construction projects. The sector has been a major contributor to the country's GDP, with Morocco ranking highly in the Middle East and North Africa region for its number of high-rated vacation properties. The government's Vision 2020 initiative has successfully boosted tourist numbers, positioning Morocco as a top global destination. Despite the challenges posed by the COVID-19 pandemic, which necessitated border closures and travel restrictions, the industry has shown resilience and is expected to continue expanding, with international brands like Hilton and Accor actively investing in new properties.

The hospitality landscape in Morocco is characterized by a mix of domestic independent hotels and international chains, with the latter primarily concentrated in major cities. The market is witnessing a shift towards more authentic and sustainable tourism experiences, as travelers increasingly seek to engage with local cultures and communities. This trend is expected to drive further growth in the sector. The dynamic occupancy rates and average room revenues, coupled with the planned addition of thousands of hotel rooms, underscore the industry's potential. Key players in the market, such as Accor SA, Louvre Hotels Group, and Marriott International, are strategically expanding their presence, contributing to the overall development and diversification of Morocco's hospitality offerings.

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Morocco Hospitality Industry Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Leisure and Recreational Activities is Driving the Growth of The Market

      2. 1.2.2 Increase in Hotel and Restaurant Construction Projects

    3. 1.3 Market Restraints

      1. 1.3.1 Skilled and Trained Staff Shortages is Impacting the Market

    4. 1.4 Market Opportunities

      1. 1.4.1 Promoting Sustainable Tourism Will Continue to Dominate the Market

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Buyers

      2. 1.5.2 Bargaining Power of Suppliers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights of Technology Innovations in the Market

    7. 1.7 Insights on Government Regulations and Industry Policies

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Chain Hotels

      2. 2.1.2 Independent Hotels

    2. 2.2 By Segment

      1. 2.2.1 Service Apartments

      2. 2.2.2 Budget and Economy Hotels

      3. 2.2.3 Mid and Upper Mid-scale Hotels

      4. 2.2.4 Luxury Hotels

Morocco Hospitality Industry Market Size FAQs

The Morocco Hospitality Industry size is expected to reach USD 0.83 billion in 2024 and grow at a CAGR of 5.89% to reach USD 1.10 billion by 2029.

In 2024, the Morocco Hospitality Industry size is expected to reach USD 0.83 billion.

Morocco Hospitality Industry Report Snapshots

Morocco Hospitality Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)