Despite Morocco's status as a middle-income country, living standards are low by international standards and have declined since the early 1990s, especially in terms of educational and medical social services.
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The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. Sales of fish and seafood are important as well. Industry and mining contribute about one-third of the annual GDP.
In 2021, Morocco ranked 123rd out of 191 countries in the world on the Human Development Index (HDI), behind Algeria (91st) and Tunisia (97th). It is the most unequal country in North Africa according to the NGO Oxfam.
The three leading exports are agricultural produce (citrus fruits and market vegetables), semiprocessed goods and consumer goods (including textiles), and phosphates and phosphate products. Major imports are semimanufactures and industrial equipment, crude oil, and food commodities.
Morocco is home to four billionaires, 28 centi-millionaires, and 5,800 millionaires. Wealth Report: Morocco Among 'Big 5' Wealth Markets in Africa By Mariya Sahnouni - Mar. 29, 2023 12:47 p.m.
Social LifeAlthough Moroccan society is very conservative and religious, it is one of the more moderate and peaceful countries in the region. Its ongoing program of social, economic and political reforms makes it an attractive choice for many expats.
Morocco has a relatively low crime rate, but Peters recommends that you keep alert and watch your valuables at all times. Other tips include: Avoid poorly lit areas and don't travel alone at night. Watch your belongings and don't flash valuables.
H&P data suggests that the number of super-wealthy individuals residing in Marrakech grew by 55% between 2012 and 2022. The Moroccan city is now home to 900 millionaires, 8 centi-millionaires (individuals with a network of $100 million), and two billionaires.
The key sectors that make up the Moroccan economy are agriculture, textiles, construction, energy, and mining. Tourism is a major industry within the service sector, but situations in the neighbouring countries have also affected this sector.
Yes, you can use the US dollars in Morocco. Morocco is still a cash-based economy. Euros, USD, and CAD – not Australian dollars, are always accepted in Morocco and you will save time bringing cash to convert, doing away with bank lineups or non-active cash machines to acquire dirhams.
Morocco allows the consumption of alcohol. Alcohol must be purchased and consumed in licensed hotels, bars, and tourist areas. You can also buy alcohol in most major supermarkets. The alcohol section is usually in a separate room from the main supermarket.