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The hospitality market share in Morocco is expected to increase by USD 1.87 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.40%.
This hospitality market in Morocco research report extensively covers the market segmentations by type of tourists (international and domestic) and type of service (food service and accommodation).
The hospitality market in Morocco report also offers information on several market vendors, including Accor SA, Four Seasons Hotels Ltd., Hyatt Hotels Corp., Kenzi Hotel Group, Louvre Hotels Group, Mandarin Oriental Hotel Group Ltd., Marriott International Inc., Rotana Hotel Management Corp., Shanghai Jin Jiang International Hotels Group Co. Ltd., and Wyndham Hotels and Resorts Inc. among others. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The shifting preference for local and authentic experiences is notably driving the hospitality market growth in Morocco, although factors such as difficulties in implementing tourism policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hospitality market industry in Morocco. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hospitality Market Driver in Morocco
The shifting preference for local and authentic experiences is one of the key drivers supporting the hospitality market growth in Morocco. Many tourists are shifting from traditional traveling to local and authentic traveling experiences. They are focusing more on exploring local communities and their cultures, which are considered to be one of the most important aspects of the hospitality market in Morocco. These tourists prefer buying local products instead of souvenirs; undertaking adventure trips in public transport instead of taxis. Also, having dinner in a restaurant that uses zero-kilometer ingredients, including local, low-impact primary ingredients, such as meat, cheese, and honey. This new form of tourism is expected to become popular among tourists as they are becoming more aware of the environmental impact of tourism, which will fuel the growth of the market in focus during the forecast period.
Key Hospitality Market Trend in Morocco
An increase in Internet access and online testimonials is another factor supporting the hospitality market growth in Morocco. The Internet provides consumers with all the essential information related to travel besides customer-generated reviews through testimonials. It also provides direct access to destination /images and videos, reviews, weather reports, and maps and guides. For instance, booking.com, one of the prominent booking portals, provides users with booking options depending on the type of trip they wish to take. In 2020, the website had over 65 million guest reviews. Online testimonials are expected to gain more attention as they help travelers plan their visits and related itinerary. This is expected to have a positive impact on the hospitality market in Morocco during the forecast period.
Key Hospitality Market Challenge in Morocco
The difficulties in implementing tourism policies is hindering the hospitality market growth in Morocco. When governments change or national budgets come under pressure, it becomes difficult to implement sustainable and effective policies. However, there are several challenges in the hospitality market in Morocco. They include a lack of a well-trained workforce for the tourism sector. Meanwhile, marketing issues include the promotional activity for implementing an effective tourism industry in the country. These factors are expected to pose a threat to the growth of the hospitality market in Morocco during the forecast period.
This hospitality market in Morocco analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the hospitality market in Morocco as a part of the global hotels, restaurants, and leisure market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hospitality market in Morocco during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hospitality market in Morocco encompasses successful business strategies deployed by the key vendors. The hospitality market in Morocco is fragmented and the vendors are deploying growth strategies such as price, government licensing, service portfolio, quality, brand, and safety measures to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hospitality market in Morocco forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hospitality market in Morocco, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the hotels, restaurants, and leisure market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
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The hospitality market share growth in Morocco by the international segment will be significant during the forecast period. International tourism refers to tourism that crosses national borders. Tourism in Morocco is well developed, maintaining a strong tourist industry focused on the country's coast, culture, and history. Morocco is one of the major destinations for foreign tourists traveling in Africa. As Morocco is the most popular place for international tourism, which will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the hospitality market in Morocco size and actionable market insights on post COVID-19 impact on each segment.
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Hospitality Market Scope in Morocco |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.40% |
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Market growth 2022-2026 |
$ 1.87 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.67 |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Accor SA, Four Seasons Hotels Ltd., Hyatt Hotels Corp., Kenzi Hotel Group, Louvre Hotels Group, Mandarin Oriental Hotel Group Ltd., Marriott International Inc., Rotana Hotel Management Corp., Shanghai Jin Jiang International Hotels Group Co. Ltd., and Wyndham Hotels and Resorts Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Type of tourists
Market Segmentation by Type of service
Customer landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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