SMIT Moroccan Agency for Tourism Development: Outstanding Contribution to Moroccan Economy 2023

CEO Imad Barrakad

The Moroccan Agency for Tourism Development (SMIT) promotes Morocco as a business-friendly and culturally rich tourist destination. The agency acts as a catalyser for sustainable, inclusive and resilient tourism in Morocco. SMIT connects Morocco’s tourism SMEs, which represent 80 percent of the tourism sector, with financing options through private investors, public funding and public-private partnerships. It launched a digital platform to encourage SMEs to collaborate in local networks for mutual growth and benefit. SMIT understands how to best combine complex elements to foster a thriving tourism industry. It provides potential investors with analyses to make data-backed decisions and assistance to get the ball rolling. The agency engages with tourism SMEs across various outreach campaigns and digital channels. In 2021, SMIT partnered with a local council to finance a programme aiming to create 150 tourist SMEs and more than 600 new direct jobs. It recently announced another partnership to support the conversion of ksours and kasbahs, traditional adobe architecture including citadels and tribal villages, into authentic hotel accommodations. Grant funding would cover up to 40 percent of the project investment amount, plus an additional contribution of 10 percent of the investment to improve the surrounding area. SMIT expects significant economic and social impact from the initiative in terms of job creation, income-generating activities, reduction of the rural exodus and promotion of local products. The CFI.co judging panel congratulates SMIT on claiming the 2023 award for Outstanding Contribution to Moroccan Economy.