Casablanca – The Marrakech-Safi region continues to solidify its position as a dynamic economic engine, with a remarkable surge in investments throughout 2024. Between January and November, the region approved 635 new projects, collectively valued at approximately $9.6 billion. This represents a 51% increase compared to the same period last year, highlighting growing investor confidence in the region’s potential.
These new projects are expected to generate 21,266 job opportunities, a 14% increase from 2023. The tourism sector leads the charge, accounting for 48% of the anticipated jobs, driven by significant developments in hospitality and infrastructure. The industrial and services sectors also play a key role, with projects spread across various provinces.
Tourism and industry drive growth
Marrakech, as the regional capital, leads with 416 projects valued at $2.9 billion, creating over 9,160 jobs. The city’s long-established status as a top tourist destination continues to attract investment. Al Haouz follows with 95 projects, expected to create 6,145 job opportunities, reflecting the area’s growth potential.
Safi, though having fewer projects (28 in total), stands out with an investment of $5.2 billion. This is largely attributed to large-scale industrial projects, including those led by the OCP Group, a global leader in phosphate production.
Other provinces, such as El Kelaa des Sraghna, Essaouira, and Chichaoua, are also contributing to the region’s growth through diverse projects in tourism, industry, and services.
Strategic vision for global economic hub
The strong investment performance in Marrakech-Safi is a result of a well-coordinated strategy aimed at attracting private investment and preparing for global events. The region is focused on becoming an international economic hub, supported by high-value projects and a balanced distribution of initiatives across its provinces.
A key factor in the region’s growth is the Unified Regional Investment Committee (CRUI), which reviewed 829 investment files in 2024, an increase of 20% compared to the previous year. The approval rate reached a record 93%, reflecting the region’s commitment to creating an investor-friendly environment.
Preparing for major global events
In preparation for major international events such as the 2030 FIFA World Cup and the 2025 Africa Cup of Nations, the Marrakech-Safi region has launched an extensive infrastructure program. This initiative aims to meet the high standards set by the Confederation of African Football (CAF) and FIFA, ensuring the region is ready to host these prestigious events.
Post-earthquake recovery in Al Haouz
Economic recovery and job creation in Al Haouz, which was significantly impacted by a recent earthquake, remain a top priority. In 2024, more than 95 projects were launched in the province, with an investment exceeding $820 million, leading to the creation of 7,000 new job opportunities. These efforts are playing a crucial role in the region’s recovery, providing much-needed economic support to local communities.
The Marrakech-Safi region’s impressive performance in attracting investment and fostering economic growth underscores its increasing importance both within Morocco and on the global stage. With continued strategic planning and institutional support, the region is poised to strengthen its position as one of the country’s foremost economic powerhouses.
