Morocco's tourism revenues up 18.1pc in Jan.-April

FT ONLINE

Morocco's tourism revenue rose 18.1 per cent year on year to 2.1 billion US dollars in the first four months in 2018, the country's foreign exchange regulator said on Friday.

Between January and April, remittances from some 4.5 million Moroccans living abroad posted a 13-per cent increase to 2.11 billion dollars compared with 1.85 billion dollars during the same period last year.

Tourism revenues and remittances from the North African nation living abroad are the main sources of foreign currency reserves for Morocco, reports Xinhua.

On the other hand, foreign direct investments in Morocco dropped by 17.1 per cent to 676 million dollars from 816 million dollars in the first four months of last year.