Travel revenue reached a record 78.8 billion dirhams (MMDH) in 2019, after that recorded a year earlier at 73 MMDH, according to the Exchange Office.
A geographical breakdown of these receipts shows that France occupied first place in 2019 as a country issuing travel receipts with 25.7 billion dirhams, or a share of 32.6%, said the Office in its annual report on Balance of Payments and Morocco’s international investment position.
Then arrive Spain with 6.68 MMDH, then the United Kingdom (6.31 MMDH), notes the report, noting that Saudi Arabia is the first Arab country to emit travel receipts (2.78 MMDH).
As for expenditure, it increased significantly, going from 18.6 MMDH in 2018 to 20.9 MMDH in 2019, while in 2008, this expenditure reached only 8.5 MMDH.
In 2019, travel expenses are mainly composed of spending on tourism (55%), followed by tuition fees (25.4%), then travel for religious purposes (9%), notes the Office.
In 2019, the structure of service revenue by component remained stable. The share of travel receipts in total service receipts stabilized at 42%, followed by transport receipts (stable at 19%).
According to the report, revenues from services reached 186.3 MMDH in 2019 against 174.9 MMDH in 2018, an increase of 6.5% or +11.4 MMDH, combined with a slight drop in spending of 0.7% or 0.7 MMDH.
Thus, the surplus balance of services records a clear improvement of 15.9% or + 12.1MMDH, specifies the same source.
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