Morocco’s economic outlook strengthened by industry and tourism growth
Morocco’s economy is expected to expand by 4.5% in 2026, supported by industrial development, strong tourism activity, resilient consumer demand, and continued investment flows, according to a research note published by Standard Chartered on June 30.
The bank said the forecast reflects sustained momentum across manufacturing, tourism, and domestic consumption. It also highlighted capacity expansion and investment in strategic sectors as factors supporting economic growth.
Standard Chartered noted that agricultural performance could provide additional support to the outlook if harvest results exceed current expectations.
Growing confidence in Morocco’s economy
The projection comes more than a year after Standard Chartered established its representative office in Casablanca in May 2025, following approval from Bank Al Maghrib and the granting of Casablanca Finance City status.
The office was officially inaugurated in December 2025 in the presence of government officials, regulators, diplomats, and financial sector representatives.
Cynthia El Asmar, CEO and Head of Coverage for Standard Chartered Morocco, said Morocco continues to demonstrate strong economic fundamentals and the effectiveness of its long term development strategy.
She stated that the country has developed a diversified economy supported by an expanding industrial base, stronger trade links, and sustained investment in key sectors. According to El Asmar, these elements continue to reinforce Morocco’s attractiveness as an investment destination.
She also emphasized Morocco’s position within changing global trade dynamics, citing the country’s industrial capabilities, connectivity, and investment in strategic sectors as factors strengthening its role as a gateway between Asia, Europe, Africa, and the Middle East.
According to El Asmar, Morocco is well placed to attract capital, seize new opportunities, and support private sector growth as global trade and investment patterns evolve.
Strategic location attracts investment
Standard Chartered highlighted Morocco’s geographic position as an advantage at a time when multinational companies are diversifying supply chains. The bank described the country as a hub connecting Europe, Sub Saharan Africa, and the Middle East, with increasing appeal for long term industrial investment and capital flows.
When launching its representative office in 2025, the bank identified agro industrial activities, automotive manufacturing, aeronautics, and renewable energy as priority sectors.
At that time, Morocco was Africa’s sixth largest economy and had recorded GDP growth of 3.2% in 2024.
The 4.5% growth forecast for 2026 represents an acceleration compared with that earlier figure. It is also broadly consistent with other institutional projections. Bank Al Maghrib’s advisory council has forecast growth of 5.2% for 2026, while data from the High Commission for Planning showed economic expansion of 4.6% during the first quarter of the year.
Standard Chartered said its Casablanca office, led by El Asmar, aims to strengthen partnerships with local and international clients and facilitate cross border financing.
During the inauguration ceremony in December 2025, Rola Abu Manneh, CEO for the UAE, Middle East, and Pakistan, said the bank’s global network, sector expertise, and financing capabilities position it to support Morocco’s growth ambitions.
The bank believes Morocco remains well positioned to maintain its growth trajectory in the coming years.
