Morocco

An economic powerhouse of the African continent, the Kingdom of Morocco sits at the crossroads of Europe, Sub-Saharan Africa and the Middle East. With a population of over 37 million people, Morocco benefits from its stable political environment, modern infrastructure and well-developed financial markets. Furthermore, the country has embarked on an ambitious reform program aimed at boosting private sector initiative and job creation, diversifying the economy, and attracting foreign investment. A successful regional manufacturing and export hub for international companies, particularly in the automotive industry, other thriving drivers of the economy include sectors such as tourism, mining, textiles and clothing, renewable energy, and information technology.

Morocco, however, also confronts several challenges, including rural poverty, youth unemployment, heavy dependence on agriculture, and vulnerability to climatic shocks. Furthermore, the country relies significantly on the European Union for its tourism and industrial sectors. Additionally, Morocco struggles with burdensome bureaucracy, weak productivity, and labor market rigidities, which stifle the country’s potential for full economic growth and development.