A recent report revealed that the number of wealthy people is increasing in Morocco. The kingdom is present among the top 5 countries with the most wealth on the African continent.
In a study published by Henley and Partners, Morocco is one of the countries with the most wealthy countries alongside South Africa, Egypt, Nigeria and Kenya. They represent 56% of the rich in Africa.
Between 2012 and 2022, the number of rich in Morocco in particular has increased by 28%. Currently, the kingdom has more than 5,800 people whose wealth exceeds $1 million, 28 people whose wealth exceeds $100 million, and finally 4 people whose wealth exceeds $1 billion.
The list of richest African countries was led by South Africa, with 37,800 people whose wealth exceeds one million dollars, then Egypt with 16,000 people, Nigeria with 9,800 people, then Kenya with 7,700 people.
The term wealth refers to an individual’s net assets in property, cash, and stocks. The report estimates total wealth invested in the continent at $2.4 trillion, with around 138,000 people with wealth over $1 million, 328 people with wealth over $100 million and 23 with wealth over $1 billion. billion, expecting the number of millionaires on the continent to increase by 42% over the next decade.
On the other hand, the same report indicates that the Moroccan passport ranks 14th at the African level, as it allows travel to 65 countries without a visa, also indicating that Marrakech is among the tourist cities that attract the rich from Africa.