At IHIF 2024, The Moroccan Agency for Tourism Development -SMIT- discussed their pivotal role in catalyzing industry investment within North Africa's dynamic tourism landscape. Since 2007, SMIT has orchestrated impressive growth, attracting renowned hotel brands like Hilton, Marriott, and Hyatt to Morocco. Collaborating with various stakeholders, SMIT has overseen the addition of over 155,000 beds and approximately 120 hotels, gearing up for the upcoming World Cup. Beyond expansion, SMIT focuses on sustainability and diversification, promoting tourism in coastal areas, cultural hubs, and rural landscapes. Guided by His Majesty The King Mohammed VI’s vision, SMIT is crafting a narrative of prosperity and sustainability, making Morocco an irresistible destination for both of investors and global travelers. Watch now!
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Patrick Whyte:
So Imad, thank you very much for joining us. Could you tell me a little bit about SMIT and what it is and what you do?
Imad Barrakad:
Sure, The Moroccan agency for tourism development- SMIT is a government institution that has been set up in 2007 to implement the development strategy of the tourism offer in Morocco. It operate on 3 main axes: (i)Tourism product Engineering; (ii)Seeking funding for product development from private and public investors and (iii) Tourism investment promotion. SMIT aims to make the Kingdom an attractive destination for the world's leading tourism investors and operators in order to ensure a profitable investment and a mutual satisfaction.
First of all, SMIT is a government body. SMIT is the Moroccan Agency for Tourism Development, and it works on two aspects, engineering and promoting investment. Regarding the engineering aspect, it's important to have an attractive destination, And from investors’ aspect, it’s important to have an interesting products where they want to invest. So there is a link between two aspects. That's why we exist since 2007. It's an important agency that works in an ecosystem with the board of Tourism, with the Ministry of Tourism, with the local authorities and with a lot of other stakeholders in tourism. Tourism is a transversal sector. So, we need to work with a lot of people. Of course, we work with investors and accompany them in their investments. the best thing is when an investor is happy about his investment and it’s a profitable one. that's why we exist today in Morocco.
Patrick Whyte:
And how has hotel investments? Has the country changed over that period of time? Have you seen a big increase in terms of investors looking to invest in Morocco and open hotels?
Imad Barrakad:
Morocco has seen significant development since 2000. We’ve witnessed remarkable growth, Indeed, Morocco's current accommodation capacity is 289,000 beds. This capacity has been increased over the last decade, with more than 110,000 additional beds.
this increase shows that investors have an interest in the destination. Moreover, major international hotel brands like Hilton, Mariott, Hyatt, four season, Accor are present in the kingdom which demonstrates the country’s attractiveness.
However, our focus extends beyond hotels to sustainable tourism, ensuring a diverse range of experiences for visitors. what we are doing is really to find a way to improve the business in Morocco.
Patrick Whyte:
And obviously in six years time, there's as a huge event, the World Cup's coming to Morocco. Can you talk a little bit about what you need to do in those six years, what you're hoping to get in terms of capacity in certain cities or locations, what do you want?
Imad Barrakad:
Well I think that the world cup is a huge momentum, it is a significant opportunity for Morocco. We’ve seen more than 30% growth in tourism revenue, increasing from $7 billion to $12 billion in recent years.
The whole country is in a movement, we are working to expand infrastructure and incentivize investments. Our main objective is to ensure sufficient capacity in cities and locations hosting the Work Cup matches.
This means having enough bed capacity and sufficient hotels in the destination. We must anticipate this event and start preparing for it today.
Morrocco offers significant incentives for those who want to invest in the Kingdom. Last year, a new charter was established, allowing investors to receive up to 30% cash back on their CapEx. due to the positive business environment and ongoing development, Morocco has become one of the most attractive destinations for investment
We've invested heavily in sustainable infrastructure, including renewable energy and efficient transportation like the LGV train from Tangier to Casablanca . Our highways and refurbished airports enhance connectivity, making Morocco more attractive for tourism and investment.
We're also developing leisure activities, similar to Berlin's cultural offerings. In Rabat, visitors can enjoy museums, historical sites, and diverse dining options. To boost tourism, we incentivize SMEs to invest in gastronomy, digital services, and entertainment, enhancing the overall tourist experience
Patrick Whyte:
And you're trying to invest or bring hotel investors and others into other cities other than, obviously Marrakesh is very famous, big industry there, big travel and tourism industry. Are you looking to try and grow other cities as well at the same time?
Imad Barrakad:
Yeah, of course. Diversification is the key to sustainable tourism, Marrakech is and remains our flagship destination, that’s the reason why we are actively promoting cities like Agadir, which is a beach area, or Fes, Tangier, Rabat, Casablanca and many other cities that are more cultural .
Patrick Whyte:
Active tourism, mountain tourism?
Imad Barrakad:
We start to develop rural areas for niche tourism experiences, such as mountain and lake tourism. So, we are developing into destination this kind of tourism. For instance Beni Mellal’s region is renowned for its historical association with dinosaurs. We aim to create a comprehensive experience centered around the theme of dinosaurs, rooted in a deep historical perspective that represent a storytelling. And under the guidance of His Majesty, the king Mohammed VI, Morocco is growing very fast and it’s becoming a sustainable destination.
Patrick Whyte:
That's a lovely place to finish Imad, thanks so much for your time today.
Imad Barrakad:
You're welcome. I'll be waiting for you there.