It is a new Africa. It is an Africa where development happens at the speed of light. To see all the development in action, one has to visit Morocco and witness the power of Moroccan minerals and fossils. Without these, Morocco could have been another poor, third world country mainly because it does not have fertile lands like African countries like Ethiopia, Kenya, Zimbabwe and South Africa. In simple language, mining is the lifeline of the economy. It is the chief export of the country. Proceeds are being used to develop the infrastructure and other sectors of the economy.
The mining sector of Morocco is at an all-time high. At no time has it performed the way that it is currently performing. That has led to the flow of investors from different parts of the world. The locals are also benefit because of the increase in the number of jobs. That has caused the constant drop in unemployment rate.
There is a higher standard of living because of the high GDP of Morocco. Some people in this part of the world live just like people in the UK, France, Germany and the USA. That is due to high disposable income. Citizens of mineral rich countries usually earn a lot of money and there are many state incentives for citizens.
The development of mining sector has led to the development of supporting industries. In the national and international economy, no industry exists alone. Therefore, when one industry develops, the others develop as well. When there is failure in one sector, there will be a domino effect all across the board. That is how economics works in the world.
One sector that has been positively affected by the mining sector is the real estate market. In any country, this is the sector that benefits the most from other sectors. That is because for any business activity to take place, there has to be a property that houses all the business operations. Land is a vital factor of production.
The banking and insurance sectors are developing as well. The money that is made by mining companies needs to be banked. Also, there are foreign companies that need to repatriate profits abroad. Mining also relies heavily on financing because it is a capital intensive affair. The leading banks of the world have various branches in this prosperous North African country.
Morocco is not only the land of minerals. It also has a fair share of fossils. Long before people settled in Europe and America, there were humans and animals in Morocco. That is why prehistoric fossils are being unearthed almost on a monthly basis. Morocco and the areas around it are places of great archaeological interest. They are tourist attractions.
Africa is not only about slums, war, and poverty. There is the good side of Africa and it is Morocco. This country is an African success story just like Nigeria, Kenya, South Africa and Egypt. The success of Morocco has been the subject of many studies. This country is prospering due to huge deposits of minerals like copper, phosphate, and steel among others.
The mining sector of Morocco is at an all-time high. At no time has it performed the way that it is currently performing. That has led to the flow of investors from different parts of the world. The locals are also benefit because of the increase in the number of jobs. That has caused the constant drop in unemployment rate.
There is a higher standard of living because of the high GDP of Morocco. Some people in this part of the world live just like people in the UK, France, Germany and the USA. That is due to high disposable income. Citizens of mineral rich countries usually earn a lot of money and there are many state incentives for citizens.
The development of mining sector has led to the development of supporting industries. In the national and international economy, no industry exists alone. Therefore, when one industry develops, the others develop as well. When there is failure in one sector, there will be a domino effect all across the board. That is how economics works in the world.
One sector that has been positively affected by the mining sector is the real estate market. In any country, this is the sector that benefits the most from other sectors. That is because for any business activity to take place, there has to be a property that houses all the business operations. Land is a vital factor of production.
The banking and insurance sectors are developing as well. The money that is made by mining companies needs to be banked. Also, there are foreign companies that need to repatriate profits abroad. Mining also relies heavily on financing because it is a capital intensive affair. The leading banks of the world have various branches in this prosperous North African country.
Morocco is not only the land of minerals. It also has a fair share of fossils. Long before people settled in Europe and America, there were humans and animals in Morocco. That is why prehistoric fossils are being unearthed almost on a monthly basis. Morocco and the areas around it are places of great archaeological interest. They are tourist attractions.
Africa is not only about slums, war, and poverty. There is the good side of Africa and it is Morocco. This country is an African success story just like Nigeria, Kenya, South Africa and Egypt. The success of Morocco has been the subject of many studies. This country is prospering due to huge deposits of minerals like copper, phosphate, and steel among others.
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