Hospitality Market in Morocco Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Morocco Hospitality Market Forecast 2022-2026

The hospitality market share in Morocco is expected to increase by USD 1.87 billion at a CAGR of 6.40% from 2021 to 2026. The hospitality market in Morocco report offers information on several market companies, 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 into the key market drivers, trends, and challenges.

What will the Hospitality Market Size in Morocco be During the Forecast Period?

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Market Driver

The shifting preference for local and authentic experiences is one of the key drivers supporting the market growth. 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 this market. These tourists prefer buying local products instead of souvenirs; and 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.

Market Trends

An increase in Internet access and online testimonials is another factor supporting the market growth. 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 itineraries. This is expected to have a positive impact on the market during the forecast period.

Key Challenges 

The difficulties in implementing tourism policies are hindering the market growth. When governments change or national budgets come under pressure, it becomes difficult to implement sustainable and effective policies. However, there are several challenges in this market. 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 market during the forecast period.

This market analysis and 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.

Who are the Major Market Companies?

The report analyzes the market's competitive landscape and offers information on several market companies, 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.
• Wyndham Hotels and Resorts Inc.

This statistical study encompasses successful business strategies deployed by the key companies. This market is fragmented and the companys are deploying growth strategies such as price, government licensing, service portfolio, quality, brand, and safety measures to compete in the market. This market forecast report offers in-depth insights into key company profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Segmentation

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The growth of market share 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.

Market Analyst Overview

The Morocco Hospitality Industry is a cornerstone of the nation's economy, playing a vital role in stimulating GDP (Gross Domestic Product) growth and attracting tourists from around the globe. Situated at the crossroads of borders, Morocco is a hub for business travel and a magnet for tourism industry investments. With a diverse array of accommodation options including three-star, four-star, and five-star accommodation units, the sector caters to a wide range of travelers. Hotel construction projects abound, drawing the attention of international brands and garnering recognition from publications like Forbes magazine. Amidst the allure of local experiences and cultural immersion, Morocco remains one of the top 20 destinations worldwide, contributing significantly to the GDP share and attracting tourist arrivals eager for adventurous journeys and authentic local goods experiences, all while promoting sustainability and environmental stewardship.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the market growth and forecasting during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Market Growth Analysis of the hospitality industry in Morocco
• A thorough analysis of the market's competitive landscape and detailed information on companys
• Market forecasting of factors that will challenge the growth of the key companies in Morocco 

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