In partnership with the Kingdom of Morocco and the Moroccan Federation for Cultural and Creative Industries (FICC), IFC has launched a strategic analysis of Morocco’s creative and cultural industries (CCIs), highlighting their economic significance, growth potential, and key development drivers. The report, Assessment of the Creative and Cultural Industries in Morocco: Market Challenges, Opportunities, and Recommendations, shows that Morocco’s CCIs are experiencing stronger-than-expected growth, contributing 2.4 percent of GDP in 2022 and employing over 116,000 people in 2023, surpassing employment in healthcare and financial services. The sector generated approximately 43 billion MAD in revenues in 2023, an 18 percent increase from the previous year.
CCIs also play a significant role in economic inclusion, with women holding 34 percent of jobs and young people finding major employment opportunities in the sector. Despite this potential, access to financing remains a critical challenge. In 2021, less than 0.5 percent of all business credit in Morocco was directed to CCIs, and only 3 percent of creative businesses accessed external financing. This gap is attributed to perceived financial risks and the lack of tailored financial products for the sector.
The report identifies subsectors with particularly strong growth, including fashion and design, which saw revenues rise by 46 percent in 2023, events and performing arts with more than double revenue growth, heritage and cultural tourism up 31 percent, and creative arts and crafts growing 18 percent. Morocco’s co-hosting of the 2030 FIFA World Cup is also expected to accelerate CCI development by boosting international exposure and attracting co-production financing for film and audiovisual content.
Key recommendations from the report include developing a national strategy for CCIs, establishing incubator networks and creative hubs, introducing intellectual property–based financing mechanisms, strengthening legal and governance frameworks, and building the financial capacity of creative SMEs through targeted training and mentorship. IFC emphasized that this assessment provides a credible foundation for private sector and financial institutions to invest confidently in Morocco’s dynamic creative industries.
Stakeholders including FICC, the Observatoire Marocain de la Très Petite, Petite et Moyenne Entreprise (OMTPME), Tamwilcom, and the Haut-Commissariat au Plan highlighted the importance of data-driven insights in understanding the sector’s economic impact, employment dynamics, and financing challenges. They stressed that CCIs are not only high value-added economically but also enhance Morocco’s global footprint and offer a pathway to inclusive growth.
IFC has supported Morocco’s private sector for more than 60 years, investing over US$2 billion in the past two years alone across small businesses, manufacturing, agribusiness, infrastructure, and financial services. The report was developed in collaboration with BearingPoint and supported by the Facility for Investment Climate Advisory Services (FIAS), providing a strategic roadmap for strengthening and expanding Morocco’s creative and cultural industries.
