World Library  
Flag as Inappropriate
Email this Article

Economy of Casablanca

Article Id: WHEBN0021119311
Reproduction Date:

Title: Economy of Casablanca  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of Morocco, Investment in Morocco, Casablanca, Nador West Med, Tanger-Med
Collection: Casablanca, Economy of Morocco
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Economy of Casablanca

Casablanca is a port city located on the Atlantic coast in western Morocco. Casablanca is Morocco's biggest city, principal port, and economic capital. The town of Casablanca was founded in 1515 by the Portuguese who had destroyed the original ancient town of Anfa years earlier. It was an important strategic port during World War II and hosted the Anglo-American Summit in 1943. The city is served by Mohammed V International Airport. Casablanca covers the richest and most sophisticated aspects of Morocco life, style, and architecture. What is less known, is that Casablanca boasts one of the most extensive and diverse displays of art deco architecture in the world.[1]

Economic overview

Casablanca is the leading force in the economic development of Morocco and, represents the key economic trading node for the African-European region. Casablanca is by far, the industrial center of Morocco with more than half of the country's factories, investment and commerce operations. Half of all of Morocco's commercial banking transactions occur in Casablanca. However, the vein of Casablanca's economy is in its phosphate exporting industry for which it is one of the main global ports as well as, the administrative center for its trade. Casablanca also has the highest concentration of light and heavy industrial activity, food processing, textiles, leather production and tourism, with a strong tertiary sector.[2]

Figures published in 2010 by the financial forecasting and research division of Morocco confirm that inter-regional disparities stand out when it comes to GDP per capita income. In Greater Casablanca, for example, it is on average 3.6 times greater than in Taza-Al Hoceima-Taounate, at 25,918 and 7,257 dirhams respectively during the period 2000-2007.[3]

Economic data

The Greater Casablanca region is considered the locomotive of the development of the Moroccan economy. It attracts 32% of the country’s production units and 56% of industrial labor. The region uses 30% of the national electricity production. With MAD 93 billion, the region contributes to 44% of the industrial production of the Kingdom. 33% of national industrial exports, MAD 27 billions, which is comparably to US $3.6 billion, come from the Greater Casablanca. 30% of the Moroccan banking network is concentrated in Casablanca.

One of the most important Casablancan exports is phosphate. Other industries include fishing, fish canning, sawmilling, furniture making, building materials, glass, textiles, electronics, leather work, processed food, beer, spirits, soft drinks, and cigarettes.

The Casablanca and Mohammedia seaports activity represent 50% of the international commercial flows of Morocco.

A Hewlett Packard office for French-speaking countries in Africa is in Casablanca.[4]

References

  1. ^ http://www.isocarp.org/pub/events/congress/2004/en/program/Casablanca_Profile.pdf
  2. ^ http://www.isocarp.org/pub/events/congress/2004/en/program/Casablanca_Profile.pdf
  3. ^ http://www.magharebia.com/cocoon/awi/xhtml1/en_GB/features/awi/features/2010/11/21/feature-01
  4. ^ http://welcome.hp.com/gms/emea_africa/en/contact/office_locs.html
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.