Relations between tourism revenue and the exchange rate: case of Morocco
DOI:
https://doi.org/10.59051/joaf.v8i1.98Abstract
Morocco has chosen to let its currency float gradually until its total floatation. This will impact the overall economy, especially the tourism sector. Indeed, this sector represents 7% of the gross domestic product (GDP). The importance of this sector also lies in the currency revenues it provides alleviating the deficit in the balance of payments. Morocco holds 22.11% of tourism receipts on the African continent. Tourism plays an important social role as a creator of direct and indirect jobs for the various operators. Moreover, in recent years it is a barometer of the economic and political stability of a country. We propose to study the relationship between tourism receipts and the exchange rate. For this, we use a macroeconomic model linking the exchange rate and tourism receipts. In order to achieve this objective, we have taken leading countries in this sector of activity belonging to different regimes and currency areas. Our results show that there is a negative relationship between the exchange rate and tourism receipts, that an economic policy must focus on stabilizing the exchange rate.
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