As part of the focus on ‘Unlocking Investment Opportunities in the Middle East and North Africa’ at the Arabian Hotel Investment Conference (AHIC) 2010, the country panel will look at the direction of tourism and hotel investment in Egypt, the Sultanate of Oman, the Kingdom of Saudi Arabia and Morocco.
Morocco (pictured) will be represented on the panel by Yassir Zenagui, who was appointed as Minister of Tourism and Handicraft in January 2010. Omar Bennani, CEO of the Moroccan Tourism Development Agency (SMIT), will also be speaking at the conference, on the panel session ‘A Focus on North Africa’.
Tourism plays an important role in the Kingdom of Morocco; according to a report in March 2009 by the World Travel & Tourism Council, in 2009 the travel and tourism sector was expected to generate $4.64 billion (MAD118 billion) of economic activity, equivalent to 16.2 per cent of total Gross Domestic Product. Direct industry employment was expected to be approximately 838,000, 7.6 per cent of total employment in the kingdom.
Total visitor numbers grew to 8.35 million in 2009, according to government figures, whilst the Jones Lang LaSalle Hotel Investment Outlook 2010 highlighted Morocco as one of the ‘hottest markets’ for the coming year.
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This was reiterated by Philippe Doizelet, director of the leading hotel, tourism and leisure consultancy Horwarth HTL, who commented: “Since launching a new strategic plan in 2001, Morocco has successfully pursued an ambitious partnership between private operators and the government and focused on creating an investment environment with limited land cost, an open sky policy and no customs tax on equipment.
“This has attracted hotel operators such as Accor, InterContinental Hotels Group and Starwood Hotels and Resorts and going forward there is no doubt that Moroccan hotel investment remains an attractive prospect. I think one of the key emerging themes is developments mixing hotels and privately owned residences.” Doizelet will be moderating the ‘A Focus on North Africa’ panel at AHIC 2010 (Day 2, Sunday May 2) Zenagui commented: “In 2010 we are aiming to realise growth of 10 per cent in tourist numbers and we have a strategy in place to ensure this growth is not achieved at the expense of profitability. We have a strong desire to focus on sustainable tourism, with environmental awareness and a high-quality tourism product.”
The conference will also feature ‘Ask the Experts’ roundtable sessions, which will feature an opportunity to get practical advice on navigating the market in Morocco. Moroccan Tourism Development Agency (SMIT) is Emerald Sponsor of AHIC.