عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Moroccan Airports Receive 5.6m Passengers in Q1 2019

Chinese tourists jump as they pose for photographs at the esplanade of the Hassan II Mosque in Casablanca, Morocco, October 6, 2016. Reuters/ Youssef Boudlal
Chinese tourists jump as they pose for photographs at the esplanade of the Hassan II Mosque in Casablanca, Morocco, October 6, 2016. Reuters/ Youssef Boudlal
TT
TT

Moroccan Airports Receive 5.6m Passengers in Q1 2019

Chinese tourists jump as they pose for photographs at the esplanade of the Hassan II Mosque in Casablanca, Morocco, October 6, 2016. Reuters/ Youssef Boudlal
Chinese tourists jump as they pose for photographs at the esplanade of the Hassan II Mosque in Casablanca, Morocco, October 6, 2016. Reuters/ Youssef Boudlal

The number of passengers traveling through Moroccan airports reached 5.6 million in the first quarter of 2019, up 9.66 percent year on year, compared to 5.1 million in the same period last year.

Morocco's biggest airport, Casablanca international airport, received 2.23 million passengers, nearly 40 percent of total air traffic between January and March.

Most of the Moroccan cities witnessed a rise in arrivals during this period with a huge turnout at the beginning of the year and also the end.

In this context, Marrakesh Airport received 27 percent of passengers during this period. A total of 1.52 million passengers arrived at the airport, recording a 21 percent increase. Rabat-Salé Airport witnessed a remarkable increase of up to 21 percent.

Southern countries stood out in attracting foreign tourists, especially Zagora Airport that saw a 125 percent increase and Dakhla that witnessed a rise in passengers of 31.2 percent, compared to the same period of last year.

Also, Essaouira Mogador Airport and Ouarzazate Airport for which passengers increased 34.3 percent and 28 percent, respectively.

Most Viewed

 
 
Business

Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
TT
TT

Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.