FIHA is Born – A Sister for AHIF
In Africa, hotel investment is booming. Hotels are core infrastructure because they are essential to attracting tourists and business people who come with foreign currency to spend and invest. As the economic environment in Africa has become increasingly less risky in the past two or three decades and because the number of hotels per head of population is a tiny fraction of what it is in highly-developed western economies, the growth in hotel development across Africa has consistently outstripped general economic growth - which in many African countries is currently higher than much of the rest of the world.
Imad Barrakad, CEO, The Moroccan Agency for Tourism Development (SMIT), said: "I am very pleased that Morocco will be the launch venue for FIHA, as I fully expect it will attract the kind of people who have the influence and resources to make a destination successful. At FIHA, we will be engaging with them and making a compelling case for further investment in the hospitality sector here."
Morocco makes four strong arguments to attract investors. First, the country has a stable political and economic climate. Second, it is strategically-located, within a three-hour flight of the major European capitals and seven hours from Dubai, Moscow and New York. Third, its laws are investor-friendly, with no restriction on land ownership or repatriation of profits and fourth, it has robust infrastructure, including a major hub airport in Casablanca.
Tourism is central to Morocco's economy. The World Travel & Tourism Council (WTTC), reports that tourism represented over 21.5% of Morocco's exports in 2017 and forecast it to grow by 4.2% per annum over the coming decade. From an inbound tourism perspective, Morocco in general and Marrakesh in particular, have experienced a strong start to the year, with occupancy and room rates substantially up on the equivalent period in 2017, according to STR, the leading provider of data and analytics for the global hotel industry.
Bench Events has previously run investment events in Morocco and in West Africa. The first edition of AHIF took place in Casablanca in 2011 and Bench Events staged the Morocco Tourism Investment Forum in 2013. Three years later, there was a special edition of AHIF in West Africa, coinciding with the opening of what was then the new landmark Hotel 2 Fevrier in Togo's capital Lomé.
Outside Africa, Bench Events runs premium hospitality investment and aviation conferences across Europe, the Middle East and South America. Market-leading, annual conferences include the Arabian Hotel Investment Conference (AHIC), now in its 14th year, The Saudi Hotel Investment Conference (SHIC), The Russia Hotel & Tourism Investment Conference (RHTIC) and the Latin American Hotel & Tourism Investment Conferences (SAHIC).
About the Moroccan Agency for Tourism Development (SMIT)
The Moroccan Agency for Tourism Development - SMIT is a government institution created in December 2007 by the Moroccan government in order to implement the development strategy of the tourism product in Morocco. In an increasingly competitive international context among tourism destinations where differentiation is tougher and tougher, attractiveness has become one of the major issues of development. SMIT puts attractiveness at the heart of its concerns with an ambition to increase the value of the best assets of each tourism territory so that it becomes a real pole of competitiveness.
Designing the offer, identifying and highlighting the tourism attractions, mobilizing lands, guiding Government and private investment in tourism, supporting investors and tour operators, facilitating their development in Morocco and promoting investment opportunities… These are some of SMIT's missions.
About the Africa Hotel Investment Forum (AHIF)
AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by Bench Events (www.benchevents.com), who have an established record of delivering high-level networking and thought leadership conferences for hospitality investment and aviation in Europe, the Middle East, Africa, Asia and Latin America. 'Creating an impact' is the core focus of Bench Events, as the company enables growth by facilitating deal opportunities. www.benchevents.com.