Morocco seeks investors for six leisure resorts
In a bid to attract 10 million tourists annually to Morocco by 2010, the government recently launched a media campaign geared toward local and foreign companies, promoting a new initiative for the construction of six new seaside resorts along the Mediterranean and the Atlantic coasts, reported the official news agency MAP. Tenders are to be issued in the near future.
The $5.2 billion project will be 50 percent funded by the state with other half to be financed by the private sector. The campaign is meant to attract local and foreign enterprises to invest in the new resorts. Major international leisure groups and hotel chains have already shown interest in the project.
Morocco's tourism industry recorded a 43 percent revenue drop in January 2002. Receipts for the month totaled 1.19 billion Moroccan dirhams ($102 million), down from MD 2.1 billion in the corresponding period the previous year, the government’s Office des Changes disclosed. — (menareport.com)
© 2002 Mena Report (www.menareport.com)