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Tourism GDP Surges: UAE Sees 38.4% Growth in 2024

by Priya Shah – Business Editor

morocco’s tourism​ sector experienced significant growth ​in 2024, ⁢with tourism GDP increasing by 38.4% compared to 2019, according‍ to newly released data from the Tourism Satellite ‌account (CST) for 2024, based on 2014‌ figures. The sector’s contribution to the national GDP rose from ⁤6.8% to​ 7.3%.

The⁤ CST data reveals a⁤ substantial rise in domestic tourism consumption, reaching 201.7 billion dirhams⁤ in 2024 – a 42.6% increase from⁣ the ‌141.4⁤ billion ⁣dirhams recorded⁤ in​ 2019.⁤ This growth is driven ⁣by both inbound and⁢ domestic tourism, reflecting‍ a strong recovery‌ and expansion of the‌ industry.

Inbound ⁣tourism consumption ​saw a particularly strong surge, increasing by 46.8% from 93.2 billion dirhams ‌in 2019 ‍to 136.9 ‌billion dirhams ​in 2024. consumption related to ‌internal and outbound tourism also grew,rising by 34.6% from‍ 48.2 billion dirhams to 64.8 billion dirhams over the same ‍period.

Consequently, inbound⁣ tourism’s share of ​total domestic consumption‍ increased​ to⁣ 67.9% in 2024, up from ‍65.9% ‍in ⁢2019. ​Conversely, the share​ of internal and⁤ outbound ‍tourism ​decreased⁣ slightly,​ from 34.1% ⁤in 2019 to 32.1% in 2024.

The tourism sector’s ​overall production ​value reached 181.9 billion dirhams in 2024,a 42.3% increase compared to 127.8 billion dirhams in 2019. ‍Added value within the sector grew by 37%, reaching 96.4 billion dirhams ⁤in 2024, up from 70.4 billion​ dirhams in ⁣2019.

Accounting for a‌ 46% increase in ⁤taxes net of subsidies on tourism products, tourism GDP reached 116.2 billion dirhams in 2024, a ​38.4%​ increase from 83.9⁢ billion dirhams in 2019. This positive⁣ trend underscores the increasing importance of tourism to the Moroccan economy.

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