Major Investment to Enhance Morocco's Tourism Sector
A consortium comprised of prominent Egyptian and Emirati investors is set to invest an impressive €200 million (approximately $235 million) in a comprehensive tourism initiative located in Essaouira, Morocco. This investment group includes notable entities such as Al Nowais Investments from the UAE, Egypt’s Sunrise Group, and the renowned Egyptian billionaire Samih Sawiris. The project is poised to play a significant role in enhancing the tourism landscape of Morocco, aligning with the country’s ambitious goal of attracting 26 million visitors by 2030.
Project Details and Future Phases
The first phase of this extensive project will span an impressive 2.5 million square meters along the picturesque Atlantic coast of Essaouira. It aims to introduce 800 hotel rooms, with 270 of them targeted for completion by the end of 2027, as reported by sources from Asharq Business. In addition to accommodation, this phase will include a leisure village featuring retail spaces, golf courses, and 30 boutique hotels, which will cover an area of 300,000 square meters. While the specifics of the second phase remain undisclosed, it is anticipated to commence five years following the initiation of the first phase's construction. This endeavor is aligned with Morocco's tourism development strategy, particularly as the nation prepares to co-host the FIFA World Cup alongside Spain and Portugal in 2030. Currently, tourism accounts for approximately 7% of Morocco's GDP, supporting nearly 900,000 direct jobs and solidifying the country’s status as Africa’s leading tourist destination, with visitor numbers reaching a record 19.8 million in 2025.
As reported by ecofinagency.com.
