MOROCCO WINS RYANAIR VOTE OF CONFIDENCE
By Steve Binge

MOROCCO WINS RYANAIR VOTE OF CONFIDENCE

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This week the leading low fares airline, Ryanair, has announced it is signing a long-term agreement with the Moroccan government to introduce some 20 new routes to regional airports in Morocco, bringing with them an expected 1 million passengers per annum. This is very good news to all investors in Morocco and confirms its promising future as an encouraging property investment market. The deal forms part of the Open Skies Agreement, which encourages airlines to offer competitive fares and increased airlines to Morocco, bringing with it a huge influx of visitors and an obvious positive impact on property prices. The agreement with Ryanair is perfectly in line with Morocco’s drive to encourage significant growth to its tourist industry which is currently in full swing: six new projects to develop golf resorts and luxury hotels around the country began recently. Meanwhile, an improved infrastructure and new economic strategies are set to actively encourage foreigners to invest in property in Morocco. Announcing the agreement in Rabat, Ryanair’s Deputy Chief Executive, Michael Cawley, said, “We are delighted to make this joint announcement with the Government of Morocco. This represents a singularly important initiative in the development of tourism and business for the country”. Ryanair will be announcing many new route announcements in the near future, thus playing an important role in increasing tourist numbers and boosting the tourist economy of Morocco. As a consequence, the property investment potential of Morocco to overseas purchasers is now reaching unprecedented levels. Investors are keen to take advantage of increased international interest in Morocco while prices still remain low.
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