1. Morocco, Spain and Portugal to host the 2030 FIFA World Cup
In December 2024, FIFA officially confirmed that Morocco, Spain and Portugal will jointly host the 2030 FIFA World Cup. This event represents a significant opportunity for infrastructure development and investment attraction in the host countries. Morocco, in particular, is investing in the construction and modernization of stadiums, such as the Hassan II Grand Stadium in Casablanca, which will have a capacity of 115,000 spectators and aims to host the final of the tournament.
2. Approval of the Finance Law 2025 in Morocco
2. The Draft Finance Law (PLF) for 2025 in Morocco
approved by the Governing Council in October 2024, is structured around four key priorities:
- implementation of the “social state”: this axis focuses on the generalization of social protection, the completion of the direct social aid project, the reform of the health and education systems, support for social dialogue with trade unions, and the reconstruction of areas affected by natural disasters.*
- Promoting investment and job creation: PLF 2025 seeks to stimulate private investment and support public investment, especially in sectors with a high impact on the labor market, with the objective of generating employment opportunities for young people.
- Structural reforms: The implementation of reforms in the justice system, advanced regionalization, reform of public establishments and public enterprises, and fiscal reform are envisaged, in order to improve efficiency and governance.
- Sustainability of public finances: The project proposes measures to ensure financial equilibrium, reduce the budget deficit and create financial margins to face future risks, while maintaining macroeconomic stability.
Among the measures highlighted is the total income tax exemption for retirement pensions and basic annuities as of January 1, 2026, excluding supplementary retirement schemes. In addition, a 50% reduction in income tax is established for pensions and annuities received in 2025.
The PLF 2025 also provides for a significant increase in the defense budget, which amounts to 133 billion dirhams (approximately 12.3 billion euros), representing a 7% increase over the previous year. This investment is mainly earmarked for the acquisition and maintenance of military equipment, as well as the development of the national defense industry.
These initiatives reflect the Moroccan government’s commitment to strengthening the social state, boosting the economy and improving the living conditions of its citizens, while ensuring fiscal sustainability and promoting investment in strategic sectors.
3. Increase in Spanish investment in Morocco
In the first nine months of 2023, Spain made a direct investment of 1,879 million dirhams in Morocco (around 172.43 million euros), an increase of 1.5% on the previous year. This increase reflects the strengthening of economic relations between the two countries and the confidence of Spanish investors in the Moroccan market.
4. Railway infrastructure development in Morocco
In 2024, Spain’s Ineco consolidated Morocco as its main foreign market, winning major contracts for the design of rail infrastructure. These include the preliminary design of the rail service between the towns of Oued Zem and Beni Mellal, as part of the corridor linking Casablanca and Beni Mellal. These projects are part of the Plan Maroc 2040, which aims to develop a dense rail transport network in the country.
5. Growth of Spanish tourism to Morocco
In 2024, Spanish outbound tourism to Morocco experienced double-digit growth, consolidating Morocco as a preferred destination for Spanish travelers. This increase in tourism flow reinforces investment opportunities in tourism and hospitality-related sectors in Morocco.
These developments underscore the economic dynamism and investment opportunities in Morocco, especially for Spanish investors interested in strengthening their presence in the country.