The economy and business of Morocco have been subject to various changes in the past few decades. These changes have created a dynamic environment that has facilitated economic growth, increased…
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Moroccan economy and business
The Moroccan economy is largely driven by the services sector, which accounts for more than half of the country’s gross domestic product (GDP). The industrial sector is the second largest contributor to the economy, contributing around a quarter of the GDP. Agriculture is the third largest sector, accounting for roughly 12% of the GDP. Tourism is another major driver of the economy, with the country welcoming over 10 million international tourists annually.
In terms of business, Morocco is considered a good place to invest due to its low labor costs, access to the European market, and competitive tax rates. The country has also made efforts to attract foreign direct investment (FDI) by introducing economic reforms and providing incentives for investors, such as tax exemptions and free-trade agreements. In recent years, the country has also seen an increase in the number of small and medium-sized enterprises (SMEs). These companies have played an important role in driving the country’s economic growth.