The recent rise of Morocco as a noteworthy economic hub in North Africa is something to really admire. Today, the country also represents a relatively tranquil oasis among the other North African countries that are still striving to reorganise themselves after the massive changes that took place during the Arab Spring only one year ago.
Morocco is seen as one of the four most advanced economies in Africa along with South Africa, Egypt and Tunisia. This is because the economies of those countries are broadly diversified across a wide range of manufacturing and service industries. Given that Egypt and Tunisia are currently still recovering from the period of unrest, focus is now shifting strongly towards Morocco with its openness towards the Western world and its ambition to be seen as a truly global player.
The Moroccan economy is based on a stable macroeconomic platform that acts as an effective driver to achieve sustainable growth. Thanks to its geographical position, the country aims to become a major player in the region and a leading international partner. The European Union has granted Morocco an advanced status, and Morocco has increased the number of free trade agreements it has with the rest of the world, including the European Union, the US, UAE, Turkey, Egypt, Jordan and Tunisia.
The combination of economic openness and progressive liberalization policies make Morocco an ideal business-friendly environment with a population of 32 million. GDP has been growing steadily, up 4.9% in 2009 and 4% in 2010. In fact, Morocco’s GDP grew on average 5% per year for the past ten years after the arrival of King Mohammed in 1999 who was responsible for major infrastructure and transportation investments, education, business, economic and social reforms. This made Morocco one of the top market reformers in the Middle East and North Africa between 2000 and 2010, according to a new report by the World Bank and the International Finance Corporation (IFC).
Through globalisation, the Moroccan consumer has become increasingly aware and well informed of international trends. Therefore, brands need to use innovative tools to stand out in the minds of their audience.
Morocco accounts for 80% of the advertising sector in central North Africa. TV represents more than half of this, but the biggest growth contributors are press and outdoors, with 90% of outdoors being dominated by billboards on streets or buildings.
Morocco’s 10 biggest advertising spenders account for about 35% of the total spend, with telecoms, consumer goods and service companies making up the majority of that amount. Television takes the lion’s share of advertising expenditure, with 55% of above-the-line advertising.
The potential for business expansion is huge. Fast-growing sectors of the economy, such as retail, automotive and real estate are providing advertising companies with new opportunities. In terms of channels, Morocco offers plenty of choices: 58 radio channels, 35 TV channels, and 398 newspapers or magazines of which 70% are in Arabic.
7pm, based in Casablanca, Morocco and a success story of the country’s advertising agency scene. They have recently become one of the newest partner agencies for Worldwide Partners, Inc. and are currently helping one of the leading daily French-language newspapers named Aujourd’hui le Maroc reposition itself. The newspaper was originally launched in 2001 and today has built up a circulation of 12,000.
I’m certain that more agencies will be bursting onto the scene as the Arab Spring allows creativity to flow through Northern Africa.
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