logo
Morocco to spend billions on airports ahead of World Cup

Morocco to spend billions on airports ahead of World Cup

Yahoo7 days ago
Morocco is set to invest 38 billion dirhams ($4.2 billion) over the next five years to overhaul its main airports, preparing for the World Cup it will co-host with Portugal and Spain.
The Moroccan government announced on Thursday that an agreement has been signed with the national airports authority, ONDA, to facilitate this extensive project. Under the deal, 25 billion dirhams will be allocated for airport expansion, with 13 billion dirhams designated for maintenance and land acquisition.
The government plans to expand its airport capacity to 80 million passengers by 2030 from 38 million currently.
In May, Morocco issued two expressions of interest to identify bidders for its plan to build a new terminal that will increase capacity at its largest airport in Casablanca by 20 million passengers.
British tourists are increasingly choosing north Africa as a holiday destination, with travel firms reporting a shift away from traditional European hotspots.
The rise in popularity is due to the availability of high-quality hotels in countries such as Egypt, Morocco, and Tunisia, which are significantly cheaper than similar options in Spain, France, and Italy, experts say.
Aviation analysts Cirium have reported a significant increase in flights from UK airports to north Africa, with 19,847 flights projected for this year.
Tui has increased its flights from the UK to north Africa this summer to meet growing demand, with new routes from Stansted to Enfidha in Tunisia and from Newcastle to Agadir, Morocco.
Online accommodation marketplace Booking.com said it recorded a 68 per cent increase in the number of searches for summer breaks in Tunisia during the first five months of this year, compared with the same period in 2024.
Egypt and Morocco saw rises of 64 per cent and 39 per cent respectively.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

More American citizens are trying to migrate to these Caribbean islands this year. Here's how to join them
More American citizens are trying to migrate to these Caribbean islands this year. Here's how to join them

Yahoo

time13 minutes ago

  • Yahoo

More American citizens are trying to migrate to these Caribbean islands this year. Here's how to join them

Americans are racing to take advantage of Caribbean nations offering citizenship by investment schemes, programs that grant citizenship to overseas investors willing to put six-figure investments into their new home countries. "Up to 70% of all buyers right now are wanting citizenship, and the vast majority are from the US," Nadia Dyson, a realtor in Antigua, told the BBC. "We don't talk politics with them, but the unstable political landscape [in the US] is definitely a time last year, it was all lifestyle buyers and a few CBI. Now they're all saying 'I want a house with citizenship'. We've never sold so many before." Lawyers in the U.S. faced a similar deluge of calls about the programs during the 2024 election of Donald Trump, according to the American Bar Association. 'In general, it comes in uncertain times,' Betina Schlossberg, an attorney at Schlossberg Legal, told a 2024 ABA report. 'We never thought of people just running away from the United States. All of a sudden, people feel uneasy, and they want to be ready.' The investment consultancy Henley & Partners has clocked a similar trend, noting the majority of applications for such programs came from U.S. citizens over the last year, part of a general surge in interest that saw applications to these schemes increase 12 percent overall. A variety of Caribbean nations offer such programs, including Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, and St. Lucia. Dominica's program has the lowest door to investment of the group, at $200,000, while St. Kitts and Nevis has the highest barrier, at $250,000. Many of the programs also confer wider visa benefits. Investors in Antigua and Barbuda, Grenada, and St. Lucia get travel access to Europe's Schengen Area. The programs have attracted a measure of controversy on the islands themselves, as well as from the governments of the U.S. and Europe, which have expressed concern that the investments could be used to avoid taxes or shield financial crimes. Nonetheless, their defenders point to success stories like Dominica's initiative raising more than $1 billion, or Antigua's program helping the country avoid bankruptcy. Similarly situated European nations — ones with equally desirable locations, with economies heavily dependent on tourism — also offer 'golden passport' schemes, including Italy, Greece, and Portugal, each with investment floors of about $250,000.

Jim Cramer on Deckers Outdoor: 'I Think This One Has Got More Upside'
Jim Cramer on Deckers Outdoor: 'I Think This One Has Got More Upside'

Yahoo

time26 minutes ago

  • Yahoo

Jim Cramer on Deckers Outdoor: 'I Think This One Has Got More Upside'

Deckers Outdoor Corporation (NYSE:DECK) is one of the stocks Jim Cramer shared insights on. During the episode, Cramer praised the company's recent earnings report and said: '… When the company reported last week, it delivered an excellent set of numbers, and the stock shot up more than 11% in a single session last Friday. So, we have to ask ourselves, has Deckers turned itself around, or is it too soon to circle back to this one, as the stock's nearly 4% decline today would suggest? Okay, first, you need to understand is that going into the quarter, expectations were incredibly low. That's what happens when a stock gets cut in half. And once the expectations get low enough, it's easy for them to be beat… Photo by Adam Nowakowski on Unsplash Deckers (NYSE:DECK) designs and markets footwear, apparel, and accessories across several brands, including UGG, HOKA, Teva, Koolaburra, and AHNU. While we acknowledge the potential of DECK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Citi Maintained a Buy Rating on Full Truck Alliance (YMM), Kept a Buy Rating
Citi Maintained a Buy Rating on Full Truck Alliance (YMM), Kept a Buy Rating

Yahoo

time26 minutes ago

  • Yahoo

Citi Maintained a Buy Rating on Full Truck Alliance (YMM), Kept a Buy Rating

Full Truck Alliance Co., Ltd. (NYSE:YMM) is one of the Best Tech Stocks to Buy Under $20. On May 20, Brian Gong from Citi maintained a Buy rating on Full Truck Alliance Co., Ltd. (NYSE:YMM) with a price target of $16. The analyst noted his bullish sentiment is based on the strong performance and smart strategies of the company. Full Truck Alliance Co., Ltd. (NYSE:YMM) has seen solid growth in order volume, driven by improved adjustments that make shippers and truckers engage more with the platform. While Gong expects the order volume to grow faster in the future, he also highlighted challenges arising from less-than-truckload orders. Moreover, the analyst highlighted that the company is making strategic investments, which might hurt the margins in the short run but will help the company achieve meaningful growth in the long term. A view of an open cargo shipping yard, highlighting the companies freight listing services. Full Truck Alliance Co., Ltd. (NYSE:YMM) is a digital platform that connects shippers and truck drivers. The company uses advanced technologies, including cloud computing, big data, and AI, to help shippers find trucks and drivers find goods easily. While we acknowledge the potential of YMM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store