Driven by an ambitious economic strategy and structuring projects, Morocco approaches 2025 with promising prospects. The expected performances in key sectors such as tourism, infrastructure and renewable energies reflect this dynamic.
With a clear economic vision, Morocco is embarking on a path of transformation and resilience in 2025. The “Annual strategy 2025” report from BMCE Capital Global Research (BKGR) highlights a decisive year for consolidating growth and attracting more investments in strategic sectors.
Economic growth supported by dynamic sectors
Moroccan GDP should record, according to BKGR, an increase of 3.9% in 2025, compared to 3% in 2024. This progression is largely based on the increase in non-agricultural added value (+3.7%), driven by the secondary (+3.5%) and tertiary (+3.8%) sectors. Moderate inflation, estimated at 2.4%, should also support domestic consumption, a key driver of the economy.
In 2025, Morocco should also continue to consolidate its strategic economic relations with its main trading partners: the United States and the euro zone. The American economy is expected to grow by 2.5% in 2025, after an increase of 2.8% in 2024, thanks to dynamic consumption and increased investment. The euro zone is expected to post growth of +1.3% in 2025, compared to +0.8% in 2024, marking a gradual recovery driven by the increase in domestic demand and exports. These favorable international prospects constitute an opportunity for Morocco to strengthen its exports, particularly in sectors of excellence.
Booming foreign direct investment
Foreign direct investments (FDI) marked an exceptional jump in 2024, reaching 23.8 billion dirhams (+183%). This trend should continue in 2025 thanks to major projects, such as the Gotion High-Tech gigafactory, worth 65 billion dirhams, and initiatives in green hydrogen, underlines BKGR.
-The national ambition is clear: attract more than five billion dollars in FDI per year by 2030, with cumulative economic benefits estimated at 300 billion dollars in the twenty years following the organization of the 2030 World Cup.
Tourism and infrastructure: growth levers
The tourism sector had a record year in 2024, with 17.4 million visitors and revenues reaching 104.5 billion dirhams (+7.2%). Morocco is thus positioned as the leading tourist destination in Africa.
Regarding infrastructure, it continues to benefit from massive investments. Public projects in the construction sector reached 64 billion dirhams (+42% compared to 2023), strengthening the country’s connectivity and logistics capacities.
Furthermore, reducing the unemployment rate should be among the main objectives of the public authorities in 2025. This implies compensating for the losses of agricultural jobs due to the persistence of the drought, while strengthening the investment effort. Making the private sector the driving force of this strategy (representing two thirds of the 550 billion dirhams planned by 2035) becomes the essential means of triggering a virtuous growth dynamic for the Moroccan economy.
