Morocco Tourism Q1 2018
BMI View: We have made a series of positive forecast adjustments in the latest 2018 annual Moroccan tourism report to reflect the robust growth witnessed over the course of 2018. The short- and medium-term trajectory of the tourism industry will remain positive. Increasing penetration of low-cost airlines, strengthening of the euro and weak security situations in rival destinations will all support robust growth in arrivals out to 2021. Additional positive factors include rising demand for international air travel amongst consumers in Asia-Pacific and healthy demand and consumption levels in key European source markets. Furthermore, the ongoing Vision 2020 agenda to bolster tourism will continue to support a healthy accommodations sector pipeline with a number of landmark hotels slated to open their doors by end of 2020. We do note that support for the development of luxury resorts, to diversify Morocco's offering to European tourists and higher-spending Asian visitors, will be crucial to growth in receipts.
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