Significant Contributions to the Economy
In Morocco, the cultural and creative industries (CCI) play a crucial role in bolstering the economy, contributing approximately 2.4% to the nation's Gross Domestic Product (GDP) and generating an impressive revenue of 43 billion dirhams. This dynamic sector provides employment for around 116,000 individuals, with nearly 78,000 of these jobs being formal positions. This workforce represents about 1% of the nation's active labor force, illustrating the sector's importance. Notably, the CCI has outperformed traditional sectors such as healthcare and financial services, which contribute only 0.8% and 0.7% to the GDP, respectively. However, despite its significant contributions, the CCI receives a mere 0.5% of the total business credit available, highlighting a discrepancy in support for this vital sector.
Strategic Component of Morocco's Economy
A report published by the International Finance Corporation (IFC) on April 8 underscores the CCI as an "essential and increasingly strategic component of the national economy." The report breaks down the contributions of various sub-sectors within the CCI, revealing that heritage, cultural tourism, architecture, and gastronomy collectively account for 0.7% of the CCI's GDP share. In contrast, creative arts and crafts, as well as events, festivals, and performing arts, each contribute 0.4%. Other sectors such as advertising and marketing, audiovisual, cinema, and multimedia, the music industry, publishing, and fashion, contribute even less, with figures ranging from 0.3% to a mere 0.0% for fashion and design.
Collaborating with the Moroccan Observatory of SMEs, the High Commission for Planning (HCP), Tamwilcom, and the Federation of Cultural and Creative Industries (FICC), the report emphasizes that the CCI's contribution to the national GDP is comparable to that of capital-intensive sectors, including extractive industries and transport. It even surpasses the contributions from public service production and distribution, illustrating the sector's vital economic role.
In 2023, the economic impact of the CCI became particularly pronounced, as the sector showcased its potential as a "dynamic and fast-growing" area within the Moroccan economy. The reported revenue of 43 billion dirhams for that year marks a significant growth of 18% compared to 2022. The IFC further notes that the sector creates approximately 3.7 jobs for every million dirhams of added value, even outperforming the manufacturing sector, which generates 3.2 jobs for the same investment.
Moreover, the IFC highlights the urgent need to structure and formalize Morocco's CCI, which is predominantly characterized by very small and micro-enterprises. The organization has pointed out various initiatives being undertaken by the kingdom to bolster this sector, which it describes as a "crucial driver of economic and social development" within the country. Additionally, the report acknowledges favorable developments such as record tourist arrivals and the upcoming hosting of the 2030 World Cup, which are expected to further invigorate a sector that intersects with numerous other activities.
As reported by en.yabiladi.com.
