Market Research in Morocco, North Africa
The Kingdom of Morocco is a Northwest African country. The Mediterranean Sea is to the north and the Atlantic Ocean to the west. It also shares borders with Western Sahara and Algeria. The primary religion is Islam, and the people of Morocco speak Berber and Arabic. In addition, Morocco has a vibrant blend of European, Arab and Berber cultures. The capital is Rabat and the largest city is Casablanca.
Market Research in Morocco: Key Industries
Morocco generally has a free-market economy governed by the laws of demand and supply. But, since 1993, the nation began following a privatization strategy. So far, it has privatized specific areas of the government-owned economy.
Morocco is a major player in the African economy and the fifth-largest economy in Africa by GDP (PPP). Another key point is its ranking by the Moroccan Economist Intelligence Unit’s Quality of Life Index. According to that body, it was the first African country to surpass South Africa. But, the position has since slipped to No. 4.
More than half of the GDP comes from the services sector. Accordingly, the top industries are telecommunication, textiles, tourism, and information technology.
The tourism industry is the main area in the Moroccan economy, and it is well-developed. All in all, Moroccan tourism focuses on the country’s history, coast, and culture.
Moroccan agriculture employs about 40 percent of the country’s workforce. Thus, it is the largest employer in the country. As an illustration, barley, wheat, and other crops can be grown without irrigation. Hence, Moroccan farmers grow these crops in the rainier regions of the northwest. They also grow olives, citrus fruit, and grapes for wine in the vast plains along the Atlantic coast. In fact, they use the water from artesian wells to support their farms.
The capital of Morocco is Rabat, located is along the Atlantic Ocean and the Bouregreg River. Rabat is chiefly famous for the monuments that reflect its French colonial and Islamic heritage, such as Udayas Castle. This Berber-era royal fort is surrounded by a formal French-designed garden overlooking the sea.
Morocco’s largest city, Casablanca, is also well-known for its port and commercial hub. You can see the French colonial heritage of the city in the buildings in the center of Mauresque, with its blend of Moorish style and European Art Deco in its downtown architecture. Another example is the enormous Hassan II Mosque, which lies partly over the water with a minaret with lasers directed toward Mecca.
Trends and Consumer Base
The Moroccan economy went into recession in 2020 due to the pandemic and agricultural shock. But, the government has made a quick response in planning for a steady recovery.
The first instances of Covid-19 in Morocco showed up in early 2020. Since then, consumer behavior has shown surprising changes. This situation also mirrors what happened in a few different nations. For example, grocery stores began seeing long lines of frenzied customers looking to buy essential items. As a result, those businesses had to reconsider their working models. By the same token, it led them to e-commerce as a fundamental choice. In addition, this choice helped to limit customers’ risk amid the Covid-19 pandemic.
Strengths of the Market
- The capital market is well developed.
The Moroccan government has a high fiscal deficit. But, a somewhat developed regional capital market has reduced these deficits.
- The king is a stabilizing factor in political stability.
The monarchy is well-liked in Morocco, so it is easier to solve conflicts between parties.
Reasons to Grow Your Business in Morocco
- Foreign investors have a significant advantage because Moroccans speak several languages.
- Morocco has the right environment for business development.
- Morocco has continued to look at investment as a driving force. It needs investment for sustainable growth. Thus, it has been simplifying procedures and striving to improve investor conditions.
- Morocco is an exceptional market in Africa.
Market Research in Morocco, North Africa
Market Research can be a helpful tool for your business success. Researching Morocco can enable you to find the right investment opportunities. We can do focus groups, surveys, and interviews for you. We also offer Qualitative, Quantitative, and Strategy Research about the Moroccan market. These findings will enable the success of your business.
We are here to help you and your business succeed in Morocco.