Luxury Tourism for Morocco

King Mohammed VI last month chaired the signing ceremony of three conventions relating to the construction of new luxury tourism projects throughout Morocco at a budget of approximately MAD 23 billion (nearly USD 3 billion). 

The first convention was signed by Prime Minister, Driss Jettou, and will be launched in January 2007 for the development of the seaside resort of Taghazout at a cost of MAD 2.2 billion as well as the construction of other tourism projects, including the building of nine hotels and several luxury residential complexes, shopping centres and sports centres, at a budget of over MAD 10 billion.

The second convention related to the creation of an integrated tourism project in the Marrakech region.  The project, the first of its kind in the Kingdom, aims at building the project "Gateway to Morocco" on a surface of 380 hectares.  It includes hotels, shopping centres, luxury tourism residences, golf courses and equestrian sports grounds.

The third convention comprises the building of a tourism investment project in the Tangier region.  With the second convention, these projects total a cost of approximately MAD 10 billion and aim at attracting tourists from Gulf countries.
Needless to say, investors are watching these projects carefully with a view to timely investment within this ever-growing economy.  The projects will inevitably allow the creation of thousands of jobs in the tourism-related sector as well as give a firm boost to the tourist economy in Morocco.