A record year 2022 for MRE transfers and tourism receipts

Transfers from Moroccans residing abroad (MRE) to their country of origin and receipts from tourism, two of the main sources of foreign currency in Morocco, have crossed record levels in 2022. The figures. Transfers from MREs amounted to more than 109 billion dirhams at the end of 2022, up 16.5% over one year, according to the latest statistics from the Foreign Exchange Office. This is almost 15.5 billion dirhams more than the previous record, which dates from 2021 (93.6 billion dirhams). Record also broken for tourist receipts. These more than doubled in 2022 compared to the previous year, under the effect of the post-Covid recovery, going from 34.3 billion dirhams in 2021 to more than 91.2 billion dirhams at the end of 2022. These receipts show an increase of 166.1% compared to 2021 and exceeds the level reached in 2019 (78.7 billion dirhams), i.e. +15.9%. It should be noted that revenue from Foreign Direct Investments (FDI) increased by 20.5% to reach 38.4 billion dirhams at the end of 2022. At the same time, expenditure increased by 39.2%. Thus, the net flow of FDI increased by 8.3% to stand at 20.9 billion dirhams.