globalEDGE Blog: Art as a Way of Boosting the Economy

Art as a Way of Boosting the Economy

File under: Morocco, Economy, Art Industry,

The past several years, the economy in Morocco has been characterized by macroeconomic stability and low inflation. However, the country has been faced with high unemployment and its task in recent years has been to accelerate growth in order to create more jobs.

Morocco's initiatives for developing entrepreneurship put stress on improving the literacy rate and encouraging women to enter the business field. In the past decade there have been numerous literacy programs, targeting mostly women, the largest one being "Massirat Nour". The government sees education as the tool to decrease poverty. The larger goal is to diversify the economy so that it is not as agriculture focused and make the country more attractive to foreign investors.

The government of Morocco has also taken another unique approach, a more liberal way of reform, in order to stimulate growth. Morocco's art and culture are being used in cities throughout the country to boost its economy. From festivals of traditional music to museums portraying the best of the nation's art, Morocco is displaying it all! It is a great way of attracting tourists without overcrowding the beaches and hotels. Also, tourists have a unique experience and often extend their stay until the end of the festival. This approach has also strengthened ties with Kuwait, Qatar, and United Arab Emirates, all three of which invest in Morocco.

Many of the kingdom's towns have seen a great transformation. Restoration has turned them into clean enjoyable cities. The ones that have benefited the most are those that provide a place for culture as well as debate and economics. 

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