French expats on the rise in Morocco
According to the latest statistics published by the French Ministry of Foreign Affairs, more and more French people are settling in Morocco. They are indeed some 51,000, an evolution of 4% per year, to reside today in Morocco.
According to a report published last Friday by the French daily newspaper “Le Figaro”, reports that Morocco remains a privileged destination of French retirees and ranks among the top 10 of their countries Permanent residence.
The first three countries hosting these pensioners are Switzerland (176,000 residents), the USA (142,000) and Great Britain (128,000). But in the MENA zone, Morocco is the first host country.
According to the report of the Quai d’Orsay, it appears that the main motivation of exile of these retirees is the drastic change of their purchasing power in France. Taxation, the level of current consumption prices, the cost of housing, and the environment are in general decisive factors driving these retirees to choose another point of departure.
According to Assabah, Morocco’s tax incentives to pensioners on their pensions and the purchase of real estate, not to mention the very low cost of living, are increasingly encouraging them to settle there.
The daily newspaper added that Morocco could even dethrone in the coming years, European countries that offer tax incentives to pensioners, such as Portugal. The use of the French language, safety and stability, tolerance, the good health system … are all assets that appeal to the expats.