Expats send Morocco record amounts
Morocco’s biggest source of foreign income continues to be its citizens living abroad. According to the Moroccan Exchange Office, Moroccan nationals living abroad transferred home a record $2.2 billion in 2000.
The Moroccan expatriates appear to be a more effective generator of cash for the local economy than do tourists—who in 2000 brought $2.13 billion into the country—12 percent more than in 1999.
The amount of money received from Moroccan living out the country increased considerably during the second half of the 1990s. In 1995, the figure stood $1.84 billion, and rose 20 percent in the five years that followed.
The Moroccan Exchange Office said that the trend is expected to continue in the coming year, in accordance with the economic situation in the countries where expatriate Moroccans reside. – (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)