For the first time, tourism remittances exceed those of Moroccan expatriates
Morocco, Economics, 3/4/2000
Tourists brought to Morocco last year $1.87 billion (18.7 billion DH), exceeding for the first time Moroccan expatriates' remittances valued at $1.84 billion (18.46 billion DH), according to figures of the exchange office.
Travel receipts, composed mainly of tourism remittances, increased by 11.9% in comparison with 1998. The progression rate stands at 38.8% if 1999 figures are compared to the average recorded in the last five years ($1.35 billion).
This is due to a recovery of tourism in 1999 when Morocco received over 2.2 million visitors.
Remittances of Moroccan expatriates regressed by 4.4% between 1998 and 1999, but if compared to the last five years' average, there is an increase of 2.8%.
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