Morocco's creative sector outpaces healthcare in jobs, IFC report finds

Morocco’s cultural and creative industries (CCIs) are growing faster and employing more people than previously recognized, according to a new report launched by the International Finance Corporation (IFC) in partnership with the Kingdom of Morocco and the Moroccan Federation for Cultural and Creative Industries (FICC). The assessment found that CCIs contributed 2.4% of GDP in 2022 — on par with extractive industries and transport — and employed over 116,000 people in 2023, outpacing both healthcare and financial services. Revenues reached approximately 43 billion MAD, an 18% jump from the previous year.

The sector is also punching above its weight on inclusion: women hold 34% of CCI jobs, and the sector serves as a key entry point to employment for young Moroccans. Fashion and design revenues surged 46% in 2023, while events and performing arts more than doubled. Heritage and cultural tourism grew 31%, and Morocco’s co-hosting of the 2030 FIFA World Cup is seen as a major catalyst for accelerating CCI development and attracting international co-production investment. IFC Regional Manager for the Maghreb David Tinel said the assessment gives the private sector and financial institutions “a clear, credible basis to invest with confidence.”

Despite this momentum, access to finance remains a serious bottleneck. In 2021, CCIs received less than 0.5% of all business credit in Morocco, and only 3% of creative businesses managed to secure any external financing at all. Financial institutions still perceive the sector as high risk, and there are virtually no tailored financial products designed for creative enterprises. FICC founder Neïla Tazi called on policymakers to be bold: “Now is the time to make it a priority.”

The report puts forward a concrete agenda for change, including a national CCI strategy, dedicated incubator networks, IP-based financing mechanisms, and targeted training for creative SMEs. IFC has operated in Morocco for more than 60 years and has invested and mobilized over US$2 billion in the country in the past two years alone to support sustainable economic development. Said Jabrani of Tamwilcom, a key partner in the report, said the findings will help address financing gaps in line with its core mandate of expanding access to finance for underserved sectors.