Tourism leads Morocco growth
The growth of Morocco's economy is being led by real estate and tourism, it has been reported.
In a significant economic turnabout, the country has gone from being the nation with the lowest growth rate in north Africa and the Middle East to one which now, the government states, had 8.1% economic growth last year and an unemployment rate which has fallen below 10%, having been over 20% in the 1990's, the Financial Express reports.
Finance minister Fathallah Oualalou told the paper that this situation had come about because the country has moved away from its historic reliance on agriculture, with the growth of the property and travel sectors being most notable.
This situation creates a prospect for overseas property investors to potentially make high returns in the buy to let sector.
While Marrakech is one popular tourist destination, Casablanca is possibly the best known and most suited to western visitors' tastes, with Morocco.com stating: "Any European citizen or traveler will feel immediately at home here and will have an almost instinctive understanding of the life here."
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