This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press – Abdel Latif Baraka
Morocco’s end-of-year celebrations, known as “Bounani”, are an annual event that significantly contributes to turning the wheel of the national economy.
Although these celebrations have a distinctive local religious and cultural character, their impact extends to various economic areas, making them one of the main events awaited by many economic actors.
Al-Bunani: A celebration that multiplies activities
Economic
The importance of “Bounani” is particularly evident in the period leading up to the New Year, when Moroccan markets experience active commercial activity, whether in large cities or small villages.
This season is characterized by intense consumption which covers many sectors such as clothing, gifts, food, but also services such as transport, hotels and restaurants.
In this context, economic data indicates that annual leave in Morocco generally sees a notable increase in consumer spending.
This increase was mainly distributed across commercial activities, with clothing and accessories retailers, for example, seeing an increase in sales due to high demand for purchasing gifts and new clothing for the holidays.
Al-Bounani’s role in stimulating economic sectors
Commercial sector:
The retail sector, particularly in the area of clothing and gifts, is experiencing a sharp increase in demand during this period.
Both large and small stores offer discounts and special offers to attract customers, which helps to revitalize this sector and increase buying and selling activity.
Tourism and hospitality sector:
As the end of the year approaches, the demand for hotels and restaurants in major cities like Casablanca, Marrakech and Agadir is increasing.
The increase in tourist traffic, whether local or international, doubles employment opportunities in this sector, and also contributes to increasing financial income thanks to tourists who visit Morocco to participate in
Bonani Festivals.
Transport sector:
The transportation sector sees great activity during this period, as citizens travel frequently, whether within cities or to various tourist destinations.
This increase in demand for transport strengthens the economic activity of companies operating in this area, including airlines, trains and buses.
Employment Opportunities:
With the economic activity associated with Bonani, many temporary employment opportunities are created. Retail businesses, hotels and restaurants often hire seasonal workers to offset increased demand.
These opportunities, although temporary, help reduce unemployment and employ a significant number of young people looking for work.
Impact on tax revenue
Economic analysis shows that the period preceding “Bounani” contributes to an increase in tax revenues, particularly in terms of value added taxes (VAT) and taxes linked to commercial revenues. Sales increase significantly, thereby increasing tax revenues which benefit the public treasury.
This period also contributes to an increase in informal business activity or the “informal economy”, which may reflect the difficulties faced by the tax sector in its attempts to broaden the tax payment base.
Strategies to stimulate economic growth
To enhance these economic benefits associated with “Bounani”, the Moroccan government can adopt a set of strategies to support positively affected sectors, such as: granting tax incentives for commercial projects that contribute to increasing productivity, improvement of transport and hotel infrastructure to meet growing demand. demand during these periods, and support marketing and advertising campaigns that further promote domestic and foreign tourism during the end of the year.
“Bounani” is considered a festive occasion that has a direct impact on economic activity in Morocco, as it helps to stimulate consumption and increase demand for goods and services.
These celebrations also pave the way for the creation of seasonal employment opportunities and contribute to increasing tax revenues, which strengthens the growth of the Moroccan economy.
