The other catastrophe for Morocco due to the earthquake: it could lose more than 2% of its GDP

Morocco He tries to look to the future after an earthquake that has shaken his present. To the devastating human and material losses, we must add the economic impact that this catastrophe could have for the country.

According to estimates by the United States Geological Survey, the economic impact would be 2% of GDPwhich would mean between 2,000 and 3,000 million euros. However, if we look at a more recent example such as the earthquake in Turkey, its economic impact exceeded 30,000 million euroswhich means 4% of Turkish GDP.

These losses add to the delicate situation that was already punishing the country, still recovering from the COVID pandemic, the war in Ukraine and the worst drought in 40 years. In addition, the tourism sector is already suffering its first cancellations, something that will continue to be seen in the short term, according to experts.

Tourism accounts for 11% of Morocco’s GDP and the four regions most affected by the earthquake are also among the most visited annually. Spain is one of the countries that travels the most to Morocco: in 2022, it reached close to a million tourists, only surpassed by France.

Meanwhile, the old town of Marrakesh tries to regain its pulse, with one of its main symbols, La Medina, notably damaged by the earthquake. This World Heritage Site has its walls cracked, with ancient buildings destroyed.

This week, the Moroccan community in Catalonia has managed to fill boxes of basic products, with warehouses full of aid materials for Morocco.

Source: Lasexta

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