Austrian Magazine Highlights Morocco’s Economic Assets as ‘Ideal Bridge’ Between Europe, Africa

Vienna - Austrian biannual magazine 'Society' highlighted Morocco's position as a "gateway" and "ideal bridge" between Europe and Africa, thanks in particular to its investments in infrastructure, its robust economic performance and its business-friendly policies.Titled 'Morocco: Europe's Gateway to Africa', the issue notes that the "geopolitical location and the efforts of European companies to diversify supply chains make the Kingdom of Morocco an ideal bridge between Europe and Africa.""Investments in infrastructure, trade agreements, robust economic performance, low labour costs and business-friendly policies" are just some of the assets on the list of potential investors, states the magazine in its July-December issue.Indeed, more than half of Morocco's exports (56%) are destined for the European Union (EU), continues the issue, noting that Morocco is becoming a strategic hub for the North African region and the African continent."From manufactured goods to agriculture, Morocco can be an advantag eous partner for various European industries," pleads Rudolf Thaler, former Regional Director for Africa at the Austrian Federal Economic Chamber and author of the article, citing the Kingdom's various strengths.On the topic of solid economic performance, the edition points out that several international economic institutions, including the International Monetary Fund (IMF), project economic growth rates of 3.1% in 2024 and 3.3% in 2025.In the end of March, S and P Global Ratings raised Morocco's outlook from "stable" to "positive", continues Thaler, highlighting "Morocco's resilience to multiple shocks over the past five years, such as the COVID-19 pandemic and droughts.""Society' also cites Morocco's position as a 'green energy pioneer in Africa," quoting Deloitte's Global Green Hydrogen Outlook for 2023, which presents Morocco as prime candidate for significant green hydrogen production and one of the countries with the most potential to export green hydrogen.The article also looks at 2030 World Cu p's organisation by Morocco, Spain and Portugal, noting that 'large-scale' investments are expected in connection with the 2025 Africa Cup of Nations and the 2030 Football World Cup."Moroccan tourism is on the rise," the magazine continues, highlighting Morocco at the top of the most visited country in Africa, followed by Egypt and South Africa. "Its vibrant culture, stunning landscapes and hospitality attracted 14.5 million tourists in 2023, a record breaking year."In terms of prospects for businesses, the publication points out that the Kingdom is Austria's third-largest export market in Africa, noting that more and more Austrian and European companies are interested in establishing and enlarging their production entities in Morocco stressing the attractive business opportunities.The article is part of a 20-page focus dedicated to Morocco, the fruit of collaboration between the Kingdom's diplomatic representation in Vienna and the magazine's publishing management. Journalists traveled to Morocco to co nduct interviews and visit the Kingdom's historical and tourist sites in Rabat, Casablanca, Marrakech and Essaouira.Source: Agence Marocaine De Presse