Tangier Investment Credentials For Property Buyers
- Author Robert Shaw
- Published April 21, 2011
- Word count 433
Lonely Planet has recently cited Tangier, in the north of Morocco as its second hottest city for 2011 after New York! Between 2005 and 2009 the Tangier region of Morocco has been transformed and investment here multiplied by 5, from 800 million to 4 billion EUR. The Moroccan Regional Investment Centre forecasts another 12 billion EUR from 2008 - 2012.
These figures are the result of a strategy by the Government’s Department of Industry & Tourism to transform this city, once a beacon of Morocco’s liberal west facing outlook which over the last 30 years became more industrial and tired.
Central to Morocco’s "Vision 2010 and 2020" plans, Tangier has a bright future. Located at the crossroads of Europe and Africa, between the Mediterranean Sea and the Atlantic Ocean, Tangier enjoys a fabulous location that makes it both a strategic industrial and shipping area and also a tourism hub. It boasts links to many historic cultures that, each in their own time, have left their mark on it. Tangier truly combines modernity and history with admirable style.
A key fact in its history is that Tangiers was administered jointly by several countries for over 30 years, a unique case in the history of nations. Boosted by the construction of its new trading port to the east of the city, the beautiful bay of Tangier is now focused on luxury tourism re-development that will see it once again established as a top international destination.
Tangier shows its dynamism and ambition to become the figurehead of a Morocco truly anchored in the 21st century. In terms of tourism, the "foreigners’ city" is in full renaissance, ever more popular with the international jet set and a tourist clientele seeking authenticity. The city retains its mystery and cultivates the art of surprise, with its ability to capture the imagination.
The Tangier-Med port is already one of the largest in Africa and the Mediterranean with a capacity in excess of 8.5 million containers. As a comparison, Hamburg, the largest container port in Germany only passed this mark a few years ago). A new Renault factory just outside the new port is also set to become the largest industrial premises in the world and many companies are being attracted to the city because of it’s International Free Trade Zone status - Tangier is exempt from certain taxes to encourage foreign investment. All this means the medium term potential for 140,000 new jobs to be created that will transform the local economy.
Tourism is predicted to grow at 20% per annum for the next 5 years and with infrastructure, hospitality and entertainment needs all increasing exponentially; Tangier certainly represents a viable long-term investment option.
Robert Shaw, Marketing Manager, Elite Morocco Properties. +44(0)2085293635. Visit The Morocco Property Specialists Today at http://www.moroccoproperties.net/ For Moroccan Villas, Riads & Apartments.
Marrakech Property Agents Tangier Morocco
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