Economy of Casablanca
Casablanca is a port city located on the Atlantic coast in western Morocco. Casablanca is Morocco's biggest city, principal port, and economic capital. The town of Casablanca was founded in 1515 by the Portuguese who had destroyed the original ancient town of Anfa years earlier. It was an important strategic port during World War II and hosted the Anglo-American Summit in 1943. The city is served by Mohammed V International Airport. Casablanca covers the richest and most sophisticated aspects of Morocco life, style, and architecture. What is less known, is that Casablanca boasts one of the most extensive and diverse displays of art deco architecture in the world.
Casablanca is the leading force in the economic development of Morocco and, represents the key economic trading node for the African-European region. Casablanca is by far, the industrial center of Morocco with more than half of the country's factories, investment and commerce operations. Half of all of Morocco's commercial banking transactions occur in Casablanca. However, the vein of Casablanca's economy is in its phosphate exporting industry for which it is one of the main global ports as well as, the administrative center for its trade. Casablanca also has the highest concentration of light and heavy industrial activity, food processing, textiles, leather production and tourism, with a strong tertiary sector.
Figures published in 2010 by the financial forecasting and research division of Morocco confirm that inter-regional disparities stand out when it comes to GDP per capita income. In Greater Casablanca, for example, it is on average 3.6 times greater than in Taza-Al Hoceima-Taounate, at 25,918 and 7,257 dirhams respectively during the period 2000-2007.
The Greater Casablanca region is considered the locomotive of the development of the Moroccan economy. It attracts 32% of the country’s production units and 56% of industrial labor. The region uses 30% of the national electricity production. With MAD 93 billion, the region contributes to 44% of the industrial production of the Kingdom. 33% of national industrial exports, MAD 27 billions, which is comparably to US $3.6 billion, come from the Greater Casablanca. 30% of the Moroccan banking network is concentrated in Casablanca.
One of the most important Casablancan exports is phosphate. Other industries include fishing, fish canning, sawmilling, furniture making, building materials, glass, textiles, electronics, leather work, processed food, beer, spirits, soft drinks, and cigarettes.