Latest News- Hospitality Market in Morocco: International is expected to lead the Type segment during 2024-2028
The Hospitality Market in Morocco is being driven by Shifting preference for local and authentic experiences
The Hospitality Market in Morocco is expected to grow at a CAGR of 5.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1678.6 million. The Moroccan hospitality market is witnessing a notable expansion, fueled by the surge in Internet penetration and the escalating popularity of online testimonials. With more individuals gaining access to the web, they are increasingly relying on digital platforms to research and secure their travel lodgings. The convenience and abundance of information available online, including customer-generated reviews and testimonials, are key drivers of this shift. Websites such as Booking.com and TripAdvisor serve as valuable resources for travelers, offering comprehensive insights into hotels and services. These online testimonials carry significant weight, as they provide authentic, firsthand experiences from fellow travelers, significantly influencing potential guests' accommodation choices.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (International, Domestic) Service (Food service, Accommodation) Geography (Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Hospitality Market in Morocco Research Report
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The Moroccan hospitality industry caters to both leisure and business travelers, benefiting from geopolitical stability and international events. Tourism, including domestic and staycations, thrives on hidden gems and greenfield FDI. Cruise tourism and air connectivity boost tourism destinations. Experiential travel, gastronomy, and cultural pursuits are popular. Social media influences consumer behavior through influencer-generated content and Instagrammable moments. Technology in hospitality includes data analytics, virtual concierge services, mobile applications, IoT, and AI-based solutions. Chain hotels prioritize cleaning and sanitization, contactless technologies, and payment processing for guest interaction. The smart hospitality market focuses on guest-oriented personalization.
The global hospitality industry, encompassing hotels, resorts, and cruise lines, is spearheaded by parent companies offering associated services such as casinos, gaming, travel agencies, tour operators, and restaurants. According to Technavio, industry growth is attributable to several factors, including the expanding travel and tourism sector, with increasing numbers of leisure and business travelers from both emerging and developed economies. Geopolitical stability and the hosting of international events are further catalysts for tourism growth. Domestic tourism, staycations, and the discovery of hidden gems are also fueling the industry's expansion. Greenfield Foreign Direct Investment (FDI) continues to play a significant role in the development of new hotels, resorts, and cruise lines.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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