Morocco Avoids Real Estate Crisis-Morocco Review In 2010
Global Arab Network reports, according to OBG, that Morocco successfully avoids a real estate crisis due to banking and construction materials equities.
Online, January 25, 2011 (Newswire.com) - Pleimuiden,Amsterdam- Reduced agricultural output causes a slight fall in Morocco's growth but a rebound on the capital market has also been seen in the past 12 months according to Global Arab Network in its Morocco Review in 2010. Increasing demands for exports and investment plans supported by the government such as easier procedure buying property in Morocco are additional factors to the said growth that would have an effect well on the medium term.
GDP for the country is around 4% according to International Monetary Fund (IMF). Assessment on the kingdom's performance was "steady if not strong, buoyed by increasing diversification and rising purchasing power." Despite a slight fall in the growth rate, "banking and construction materials equities led the way, underlying Morocco's success in avoiding a major banking or real estate crisis during the global downturn."
The country's transport infrastructure develops further especially in the month of December with the signing of six financing and procurement agreements for the construction of a high speed line between Immobilier Tanger and Casablanca. This will significantly increase the capacity of freight transport between the country's largest port, Tanger Med and the country's commercial capital Casablanca.
The tourism sector accounted for around 14% of GDP in the year 2010 as estimated by the World Travel and Tourism Council (WTTC). In effect, Morocco "saw another year of growth in arrival numbers, which were up a strong 11.8% year-on-year in the year to the end of October... meaning it almost achieved its plan, launched at the start of the decade, to increase tourism arrivals to 10m by the end of 2010." In addition, the government launched a new plan named Vision 2020 in November that aims to double the number of tourists again by the year 2020. This, in effect, would make tourism come out as the country's second largest industry next to agriculture.
Tourism, infrastructure and immobilier tanger maroc are some of the country's strong forces. With these major developments happening in Morocco, investors are assured.
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Immobilier Tanger
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