Morocco 'promoted as next destination for rich and famous'
Morocco is being promoted as the next destination for the glitterati, with Monaco backing investment in the country.
This is according to the Times newspaper, which reported that the rich and famous are turning to Morocco as a winter holiday location.
Those seeking high yield property investment opportunities may be interested to learn that luxury resort operator Monte Carlo SBM will manage a new £120 million development in Marrakech.
Part-owned by the State of Monaco, it is attracting interest from stars such as Formula One champion Jenson Button, while Morocco offers an attractive tax system for property investment.
With celebrity Sir Richard Branson already owning a luxury retreat in the Atlas Mountains, the news source predicted that recent investment in the country will boost the high-end property market.
Morocco's tourism minister Mohamed Boussaid recently told Reuters that the north African nation is forecasting an increase of five per cent in tourism numbers to 8.4 million people in 2009, compared with the previous year.
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