Wed, 23 May 07
Morocco will become a top Mediterranean destination within three years, one expert has said...
Although it is a "relative unknown" on the international investment stage, seasoned buyers are aware that real estate in Morocco can be bought for around a third of the cost of similar properties in Portugal and Spain, according to Matthew Peters, writing in the Daily Reckoning.
"At some point Moroccan prices may converge with those of southern Spain as the new developments arrive," he said.
He said that the launch of Vision 2010 ? a plan to increase the number of overseas holidaymakers to ten million every year by the end of the decade ? will help to transform the country's tourism sector.
"The plan, if successful, will diversify away Morocco's reliance on France for tourists and replace it with a reliance on western Europe," he remarked.
According to Rightmove, Morocco is set to be the top overseas summer hotspot this year after it was revealed that flight bookings to Marrakech rose by an annual 295 per cent last summer.
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