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Morocco regions

Marrakech-Safi region

Marrakech-Safi is a dual region: Marrakech the international tourist destination (Morocco's #1, 3 million annual visitors) and Safi the industrial (OCP, fishing). Economy heavily dependent on upscale tourism.

Key figures

Capital

Marrakech

Population

4.5M

Regional GDP

115 Md MAD

National GDP share

8.5%

Economic sectors

International tourismLuxury craftsPhosphates (OCP Safi)Agriculture (olive oil, argan)

Credit market

Sustained demand for mortgage (European second homes, riads), professional credit for hospitality. Attijariwafa Bank and CIH Bank very present in tourism financing.

Insurance market

Strategic market for tourism insurance (travelers, tour operators) and upscale home insurance. European expats owning riads subscribe to extended multi-risk contracts.

Local specifics

Essaouira is a favorite destination for retired Europeans. Banks develop specific services for foreign owners (convertible accounts, rental management). Safi benefits from OCP oil and mining hub.

Main cities

Marrakech
Safi
Essaouira
El Kelaa des Sraghna

Dominant institutions

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