Casablanca Rising: Maghreb’s Commercial Hub Is Building Influence

By Gavin Serkin in Casablanca

Step onto the vast esplanade of the Hassan II Mosque, where Atlantic waves crash against its foundation, and you begin to grasp the sheer scale of Casablanca’s ambition.

The largest mosque in Africa and the tallest in the world was constructed in just six years. Opened in 1993, it blends tradition with modernity, Islam with other Abrahamic cultures.

Inspired by the courtyards of traditional riads, a titanium roof slides open to allow prayers beneath the heavens. It closes to protect intricate stained glass reminiscent of European cathedrals and woodwork techniques rooted in Andalusian and Jewish craftsmanship from flocking seagulls and the elements.

Incredibly, the mosque is built on top of another record structure: the world’s biggest swimming pool, constructed sixty years earlier. Today, King Hassan II’s son, King Mohammed VI, is spearheading yet another landmark of national identity: the Grand Stade de Casablanca. Set to be the largest football stadium in the world at 115,000 seats, this mega arena represents a bold declaration that football is much more than a game to Casablanca. The co-hosted 2030 FIFA World Cup is a force shaping national ambition, business, and global stature.

Casablanca’s expanding cityscape is a testament to Morocco’s ambition to cement its status as the region’s dominant economic hub. Lacking the glitz of wealthier Middle Eastern counterparts and regal splendour of Rabat, Casablanca is nevertheless emerging as a centre of influence, investment, and growing global relevance. Recent developments like the Casablanca Finance City Tower, now the HQ for multinationals from AIG to PwC, symbolize its evolution into a regional financial powerhouse. The skyscraper’s distinct twisted glass façade is a beacon for global firms looking to establish a foothold in Africa’s fast-growing markets, reinforcing Casablanca’s image as a place for innovation, investment, and economic dynamism.

The World Cup Factor

Beyond buildings, Morocco is developing an integrated ecosystem to drive long-term economic growth. The government has committed $15 billion to infrastructure projects timelined to kick off ahead of the World Cup. A key part of the project is the Al Boraq high-speed rail line, the fastest train in Africa, connecting Casablanca to Rabat and Tangier. The train line will extend to Marrakech and beyond as part of a $4.7 billion expansion. This will not only enhance connectivity but also fuel real estate, tourism, and logistics sectors. This focus on clean transportation fits with Morocco’s vision of creating a more sustainable economic hub through its ambitious embrace of renewable energy. With $32.5 billion in green hydrogen projects approved, the country is positioning itself as a global leader in clean energy production. Among the largest initiatives is a 500,000-hectare project in southern Morocco that will integrate solar and wind farms to produce hydrogen for industrial use and export. The green hydrogen sector could be transformative, allowing Morocco to not only decarbonize its own industries but also supply European markets aiming to reduce reliance on fossil fuels. Additionally, partnerships with German, French, and Emirati firms are helping accelerate Morocco’s hydrogen production capacity, further solidifying its role in the global energy transition.

The big-picture strategy is clear: combine abundant wind and solar resources with available battery inputs such as phosphate, manganese, cobalt, nickel and copper to create a fully integrated green industrial network.

With its love of building bigger, Morocco’s next world record will be in the renewables space: the longest undersea electricity cable, exporting solar and wind energy 3,800 kilometres underneath the Atlantic Ocean to power 8% of UK homes. Abundant renewable energy also feeds another fast-emerging sector: automotives. Already Africa’s leading car producer, Morocco has seen foreign direct investment in the industry soar by 55% in 2024, fuelled by a growing push into electric vehicles and battery production. As global supply chains shift to near-shoring and friend-shoring, Morocco’s industrial zones are benefiting from their strategic location near European and Middle Eastern markets while enjoying unrivalled free trade agreements to the north, south and west.

Media Hub

From multinational firms and tech startups to pioneering green energy projects and high-end commercial developments, Casablanca is evolving to a level surpassing Morocco’s economic capital—it is establishing itself as the region’s preeminent business hub.

Unlike its North African neighbours, Morocco’s economic expansion has been defined by diversification and global integration. Algeria, despite its vast oil and gas reserves, remains largely closed off to foreign investment, with state-heavy policies restricting private sector growth. Tunisia, once a promising hub for technology and industry, has struggled with political instability and economic stagnation post-2011. Libya, while rich in natural resources, continues to grapple with internal conflict, limiting its ability to attract sustainable investment. In contrast, Morocco’s stability, open-market policies, and strategic infrastructure investments have positioned Casablanca as the natural gateway for global business in the Maghreb.

Casablanca’s influence extends beyond finance and industry—it is also an emerging media hub. While major international broadcasters have long favoured Dubai and Doha for their regional base, Casablanca, boasts increasingly influential home-grown media talent such as 2M, as well as Chada Radio and TV, Med Radio, Atlantic Radio and Luxe Radio. As well as leading newspapers such as Al Akhbar, Al ahdath Al Maghribia, L'économiste, La vie eco and Le Matin, each providing extensive coverage across Africa and the Middle East. Additionally, Morocco has positioned itself as a lucrative destination for big-budget film production, with facilities such as CLA Studios in nearby Ouarzazate attracting major international film and television productions.

Bigger Than GDP

One of the often-overlooked drivers of Casablanca’s rise is the influence of the Moroccan diaspora. Remittances from Moroccans living abroad hit $950 million in January alone, a sign of the financial strength of expatriate communities supporting economic activity at home. These funds, largely sent from Europe, North America, and the Middle East, play a crucial role in real estate development, business investments, and consumer spending, reinforcing Casablanca’s position as an international hub. The Moroccan government has also introduced incentives to encourage members of the diaspora to invest in the country, utilising their skills, experience and networks to further integrate the economy into global markets.

Casablanca’s stature as an emerging economy and business hub could be even more significant if global GDP measurements evolve to better capture the full scope of Morocco’s economic activity. Critics argue that standard economic indicators fail to properly account for factors like natural resources and informal economic contributions. Morocco, which boasts some of the world’s largest phosphate reserves—crucial for fertilizer production—plays a role in global food security that is not fully reflected in its GDP. Additionally, its battery minerals and capacity for solar and wind energy appears to be massively undervalued under traditional economic assessments. As the debate over how economic growth is measured continues, Morocco stands to benefit from a broader recognition of its strategic assets.

While other cities in the region, like Algiers, Tunis and Tripoli, are developing their own business districts, these pale in comparison to Casablanca’s global standing. Yet, Casablanca’s rise has healthy spillover effects. As multinational firms set up headquarters in Casablanca, demand for skilled labour is pulling in talent from Algeria and Tunisia.

Morocco’s infrastructure projects, including its high-speed rail and expanding port networks, create logistical corridors that can facilitate greater trade with North African markets.

Unequal Opportunities

Morocco does face significant structural challenges that could hamper continued inclusive growth. Although forecasts point to a healthy 5% economic expansion in 2025, largely driven by increased investment in infrastructure, renewable energy, and industrial development, unemployment remains stubbornly high, reaching 13.3% in 2024. The jobless rate among youth is more alarming at 36.7%. The gap between economic development and job creation, especially outside of high-value sectors like finance and renewable energy, is a particular concern. Though infrastructure and industrial development are transforming urban centres, rural areas—where nearly 30% of Moroccans remain dependent on agriculture—continue to struggle. Persistent droughts have battered the agricultural sector, cutting livestock herds by 38% since 2016 and driving up food prices. Inflation has moderated, slowing from 10.1% in February 2024 to 3.2% in February 2025, but the prolonged drought has driven up essential goods prices, worsening economic disparities. In response to the decline in herds and soaring meat prices, King Mohammed VI called for a pause on the traditional Eid al-Adha sheep sacrifice this year to alleviate financial burdens on struggling households–the first such pronouncement in almost seven decades.

External pressures loom large. Morocco’s deep ties to Europe, its largest trading partner, mean that an economic slowdown resulting from the burgeoning trade war with America could weigh heavily on exports. Meanwhile, the status of Western Sahara remains a key geopolitical challenge. Diplomatic tensions with Algeria, which supports the Polisario Front, have led to severed ties and economic blockages, complicating regional trade. While Morocco has gained growing international backing for its autonomy plan—most notably, the U.S. under the first Trump administration, and most recently with France shifting its decades-old position towards support for Morocco last year—opposition from some countries in the region continues to create uncertainty. Balancing economic expansion with concerted diplomatic efforts will be critical if Morocco is to solidify its role as North Africa’s commercial gateway.

Even with these challenges, Morocco’s sustained investment in world-class infrastructure, strategic trade agreements, and a business-friendly environment puts Casablanca on track to outpace its regional counterparts. Its diversified economy, integrating finance, technology, renewable energy, and media, gives it an edge over oil-dependent neighbours. Its proximity to Europe, Africa, and the Middle East, combined with unparalleled free trade agreements, has made it the go-to destination for multinational corporations looking to expand in Africa and the wider region. Casablanca’s developing skyline shows this city’s determination to overcome all obstacles to becoming the region’s dominant commercial hub and a defining force in Africa’s future. 

 *Gavin Serkin is the author of Frontier: Exploring the Top Ten Emerging Markets of Tomorrow, and a Journalist and Consultant on emerging & frontier markets, with particular focus on Africa and the Middle East