03 Apr 2023
Did you know that more than 4 million Moroccans survive on less than £3 daily?
According to the Arab Barometer survey in 2019, 70% of the younger population wishes to leave Morocco. Three million Moroccans already live and earn in western and southern Europe and send money to Morocco to run their familial homes. This number is expected to increase in the coming years, with younger populations finding it hard to thrive economically in Morocco.
Every 4 out of 10 Moroccans want to shift abroad. Of these, the most willing is the youth aged 15-24. Here are some main reasons for Morocco’s developmental failure.
Though Morocco’s National Authority for Integrity and Prevention and Fight Against Corruption is putting its best efforts into controlling and preventing corruption, the country is on another level regarding high-level corruption. It has caused massive frustration among civilians. Morocco has been receiving international funds and loans for development projects, including the million euro grant of 1.6 billion euros provided by the UK and the $48 million loan by the world bank. Instead of being utilised for public services, health, safety, and sanitation, these funds are diverted into Moroccan elite bank accounts.
Law enforcement agencies run on bribes and nepotism. The administration is prolonged. The municipality is shabby. The buildings are poorly constructed. Infrastructure is weak. There is zero factory waste management or monitoring. As a result, air pollution has increased. Surrounding communities face a lot of problems due to factory waste.
The elites reserve good-paying jobs for their connections, leaving the civil population primarily jobless. Elite capture will be the number one cause of Morocco’s gradual demise.
Almost every Moroccan would agree that healthcare is the country's most neglected and inferior department. Public healthcare is absolutely terrible, and most people cannot afford private healthcare. Nothing is up to date, including quality standards, apt medicines, and skilled healthcare practitioners. Due to poor education, there is a lack of doctors. The country has 7.3 doctors per 10,000 inhabitants, whereas the WHO standard is 1 doctor per 650 inhabitants.
Only 16% of the total population has some sort of health insurance. The rest suffers in case of emergencies.
Although primary education in Morocco is free and compulsory, 17.6 thousand children are still reported out of school. According to the world economic forum, Morocco ranks 120th out of 137 countries for quality education.
Many Moroccans have to move abroad to seek a good education and better employment opportunities than what they have in Morocco. Making an economical money transfer to Morocco from overseas for financial support is one of the top priorities of Moroccan expats living abroad.
Morocco has almost everything required for a decent life in terms of food, clothing, electronics, and home goods. However, the quantity of these items is minimal. You cannot expect to live a quality life as a medium-wage earner.
Morocco is very backward when it comes to luxury living. There are no international brands. You can get knock-off items but never originals. Quality electronics are sold way higher than their original prices.
Agriculture, combined with fishing and forestry, contributes to 44% of the country’s total GDP, which has been severely affected by climate change and droughts. It is also the source of livelihood for a major chunk of the rural population. According to the World Bank report, nearly 9 million people are at risk of poverty due to climate-related disasters. Most migrations occur due to climatic disasters.
Morocco has always been one of the largest remittance-receiving countries in the Arab world. Arab Union of Bank’s study recorded that Morocco remained the 2nd largest remittance recipient among arab countries. As more and more people are fleeing the country for better opportunities abroad, remittances are increasing. It received 95 billion dirhams in remittances in 2020, which increased by 38.9% in 2021. This figure accounts for 5.82% of the country’s annual GDP.
Most families in Morocco rely heavily on these remittances. The money received as remittance is utilised for living, education, health, and other expenses. Remittances substitute for the lack of financial capital in Morocco and, in return, boost economic growth.
Money transfers to African countries are notorious for being expensive and complicated. The reason is the backwardness of Africa. There are low levels of financial inclusion and limited access to banking services in most underdeveloped parts. This is why the costs of remittance transactions and wires are significantly higher in Africa.
Moroccan expats who frequently send money to Morocco for their families should stop using the conventional slow, and expensive methods. Instead, shift to modern techniques such as online money transfers. Online money transfer is much more convenient and easy. However, making the right choice while choosing a service is essential to keep your funds safe and secure.
ACE Money Transfer has been the leading remittance-sending provider since 2002. It has catered to millions of users around the globe. ACE provides safe and easy-to-use online money transfers anywhere in the world. It even reaches the most backward areas of Africa.
ACE utilises the top of line security software to protect your funds. It is a 24/7 service with no delays, making it the fastest way to transfer funds globally. The transaction fee is equivalent to none. There are no hidden or receiving charges either. Now your family in Morocco can receive funds with utmost ease.
Predictions suggest that there will be an increase in the number of Moroccan expats in the coming years, which would also improve the remittance flow. Remittance sent through ACE stays safe and reaches the recipient in no time. Sign up now for free to send money to Morocco online with utmost convenience.