Growing tourism attracts investors to Morocco

Morocco: 16 May 2008

Plans to attract more holidaymakers to Morocco could enhance its appeal to second home buyers, according to analysts.

NuWireInvestor revealed that the Moroccan government wants to generate new jobs and further economic growth by boosting the tourism sector.

The online portal believes this could also have a knock-on effect on the housing market, as greater demand for tourist accommodation will mean that new properties will have to be built.

This could potentially stimulate house price growth in the most popular tourist hotspots, while the rental market will also be likely to thrive in this climate.

As a result, property investors who get in the market relatively earlier could be able to cash in on the strong growth which is likely to take place.

The website said: "Investors interested in getting in on a promising market before it peaks might want to give Morocco some thought."

Morocco has recently been enjoying a consistent increase in popularity with holidaymakers, as annual visitor numbers rose to just over seven million in 2007.

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