Moroccan cultural and creative industries show strong growth dynamics, IFC-World Bank report finds

A strategic analysis by the IFC-World Bank highlights the growth prospects and financing needs of Morocco's cultural and creative industries CCIs ahead of the 2030 FIFA World Cup, which Morocco will co-host. In 2022, CCIs represented 2.4% of Morocco's GDP, comparable to capital-intensive sectors like mining or logistics. The sector also contributes to economic inclusion, with women holding 34% of jobs and CCIs serving as a major driver for youth integration. Despite this potential, financing remains a structural barrier; in 2021, CCIs received less than 0.5% of total business credit in Morocco, and only 3% of creative businesses accessed external financing. The report identifies high-potential sub-sectors, including fashion and design 46% growth in 2023, events and live arts revenues more than doubled, heritage and cultural tourism +31%, and crafts +18%. The co-hosting of the 2030 World Cup is seen as a catalyst for internationalizing the sector and attracting new investments, particularly in audiovisuals. Key recommendations from the IFC include developing a national CCI strategy, expanding incubator networks and creative hubs, implementing intellectual property-backed financing mechanisms, and strengthening the legal and governance framework. The study also advises increased support for the financial structuring of creative businesses. David Tinel, IFC Regional Manager for the Maghreb, stated that Morocco's creative and cultural industries are emerging as dynamic growth eng