Creative and cultural industries: These striking figures from the IFC report

Morocco’s cultural and creative industries (CCIs) are showing stronger-than-expected growth momentum, according to a report published Wednesday by the International Finance Corporation (IFC), a member of the World Bank Group.

Morocco’s CCIs generated more than 116,000 jobs in 2023, thereby surpassing the health and financial services sectors, and produced nearly 43 billion dirhams in revenue, up 18% compared to the previous year, the report states. Titled “Assessment of Cultural and Creative Industries in Morocco: Market Challenges, Opportunities, and Recommendations,” it provides a detailed overview of the sector.

This strategic analysis, which highlights the sector’s growth opportunities and financing needs ahead of the 2030 FIFA World Cup co-hosted by Morocco, notes that CCIs accounted for 2.4% of GDP in 2022, a “level comparable to capital-intensive sectors such as extractive industries or logistics.”

“The sector also stands out for its contribution to economic inclusion: women hold 34% of jobs, and CCIs are a major pathway for youth integration,” the study indicates.

However, the IFC notes that despite this potential, financing remains a “structural constraint,” pointing out that in 2021 CCIs received less than 0.5% of total corporate credit in Morocco, with only 3% of creative enterprises having access to external financing.

The report highlights several high-potential segments, notably fashion and design (46% growth in 2023), events and performing arts (revenues more than doubled), heritage and cultural tourism (+31%), as well as crafts (+18%).

It also underscores the catalytic effect of co-hosting the 2030 World Cup in accelerating the sector’s internationalization and attracting investment, particularly in audiovisual production.

Among the key recommendations in the IFC study are the development of a national strategy dedicated to CCIs, the expansion of incubator networks and creative hubs, the establishment of financing mechanisms backed by intellectual property, the strengthening of the legal and governance framework, and support for creative businesses in financial structuring.

“Morocco’s cultural and creative industries are emerging as one of the country’s most dynamic engines of growth,” said David Tinel, IFC Regional Manager for the Maghreb, as quoted in the report.

“This analysis, based on robust market data and developed in close collaboration with Moroccan institutions, provides a clear foundation for mobilizing investment and supporting the large-scale structuring of the sector,” he added.

For her part, Neïla Tazi, founder and honorary president of the Federation of Cultural and Creative Industries, believes the sector is “full of promise” and is already asserting itself as an emerging economic reality. “This study provides a solid foundation to fully anchor CCIs within the public policy agenda. It reflects a genuine shift in perspective, now driven by a new generation of stakeholders,” Ms. Tazi said, also quoted in the report.

Meanwhile, Amal Idrissi, Executive Director of the Moroccan Observatory for Very Small, Small, and Medium Enterprises (OMTPME), considers that the study illustrates the importance of relying on administrative and firm-level data to better understand emerging sectors such as cultural and creative industries.

“By leveraging its data infrastructure, the OMTPME contributes to providing a robust and objective assessment of the sector’s economic weight, employment dynamics, and financing challenges, thereby supporting more targeted public policies,” she added.

“Cultural and creative industries represent a high value-added sector, both economically and in terms of international influence for our country,” said Said Jabrani, CEO of the financial institution Tamwilcom, also cited in the IFC report.

Furthermore, the IFC highlighted the contribution of the High Commission for Planning (HCP) to this assessment “through a robust methodological framework, the mobilization of official statistical data, and dedicated technical support to better define and analyze the scope and dynamics of Morocco’s cultural and creative industries,” noting that this work underscores the essential role of a strong national statistical system in informing public policy and supporting the emergence of new growth drivers.