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Economy of Tangier
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Economy of Tangier
Tangier's economy is the third biggest of all Moroccan cities, after the economic capital Casablanca and the city of Fez.[citation needed] Tangier is Morocco's second most important industrial center after Casablanca. The industrial sectors are diversified: textile, chemical, mechanical, metallurgical and naval. Currently, the city has four industrial parks of which two have the status of free economic zone (see Tangier Free Zone).
The years 2007 and 2008 will be particularly important for the city because of the completion of large construction projects currently being built. These include the Tangier-Mediterranean port ("Tanger-med") and its industrial parks, a 65,000-seat (Currently being renovated to 80,000) sports stadium, an expanded business district, and a renovated tourist infrastructure.
Agriculture in the area of Tangier is tertiary and mainly cereal. The infrastructure of this city of the strait of Gibraltar consists of a port that manages flows of goods and travellers (more than one million travelers per annum) and integrates a marina with a fishing port. Artisanal trade in the old medina (old city) specializes mainly in leather working, handicrafts made from wood and silver, traditional clothing, and shoes of Moroccan origin.
The city has seen a fast pace of rural exodus from other small cities and villages. The population has quadrupled during the last 25 years (1 million inhabitants in 2007 vs. 250,000 in 1982). This phenomenon has resulted in the appearance of peripheral suburban districts, mainly inhabited by poor people, that often lack sufficient infrastructure.
At the turn of the 20th century, Tangier produced almost no manufactures for export. Trade included trinkets for tourists; oxen, chickens, meat, and eggs for Gibraltar and Spain; and some blankets and slippers for Egypt. It was, however, a major center for imports to its own international community, as well as northern Morocco as far as Meknes and Fez. Native tangerines were not sufficient for local consumption, and many were brought in from Tetuan.
Tangier's economy relies heavily on tourism. Seaside resorts have been increasing with projects funded by foreign investments. Real estate and construction companies have been investing heavily in tourist infrastructures. A bay delimiting the city center extends for more than seven kilometers.
Hamptons International and Emaar have identified Tangier as a major growth area and recently unveiled Tinja, a resort on the Atlantic, twenty minutes drive from Tangier and an hour from Spain. Tangier will be made up of six distinctive communities with a hill-top community as the centre-piece.
Typically, the resort features a wealth of recreational and leisure facilities as well as a beach and spa hotel. With this development, Emaar aims to capitalize on the rental market; a sound strategy with a current lack of quality housing available and also no tax on rental income for purchasers for five years.
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Economy of Tangier
Tangier's economy is the third biggest of all Moroccan cities, after the economic capital Casablanca and the city of Fez.[citation needed] Tangier is Morocco's second most important industrial center after Casablanca. The industrial sectors are diversified: textile, chemical, mechanical, metallurgical and naval. Currently, the city has four industrial parks of which two have the status of free economic zone (see Tangier Free Zone).
The years 2007 and 2008 will be particularly important for the city because of the completion of large construction projects currently being built. These include the Tangier-Mediterranean port ("Tanger-med") and its industrial parks, a 65,000-seat (Currently being renovated to 80,000) sports stadium, an expanded business district, and a renovated tourist infrastructure.
Agriculture in the area of Tangier is tertiary and mainly cereal. The infrastructure of this city of the strait of Gibraltar consists of a port that manages flows of goods and travellers (more than one million travelers per annum) and integrates a marina with a fishing port. Artisanal trade in the old medina (old city) specializes mainly in leather working, handicrafts made from wood and silver, traditional clothing, and shoes of Moroccan origin.
The city has seen a fast pace of rural exodus from other small cities and villages. The population has quadrupled during the last 25 years (1 million inhabitants in 2007 vs. 250,000 in 1982). This phenomenon has resulted in the appearance of peripheral suburban districts, mainly inhabited by poor people, that often lack sufficient infrastructure.
At the turn of the 20th century, Tangier produced almost no manufactures for export. Trade included trinkets for tourists; oxen, chickens, meat, and eggs for Gibraltar and Spain; and some blankets and slippers for Egypt. It was, however, a major center for imports to its own international community, as well as northern Morocco as far as Meknes and Fez. Native tangerines were not sufficient for local consumption, and many were brought in from Tetuan.
Tangier's economy relies heavily on tourism. Seaside resorts have been increasing with projects funded by foreign investments. Real estate and construction companies have been investing heavily in tourist infrastructures. A bay delimiting the city center extends for more than seven kilometers.
Hamptons International and Emaar have identified Tangier as a major growth area and recently unveiled Tinja, a resort on the Atlantic, twenty minutes drive from Tangier and an hour from Spain. Tangier will be made up of six distinctive communities with a hill-top community as the centre-piece.
Typically, the resort features a wealth of recreational and leisure facilities as well as a beach and spa hotel. With this development, Emaar aims to capitalize on the rental market; a sound strategy with a current lack of quality housing available and also no tax on rental income for purchasers for five years.
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