The famous British economic daily “The Financial Times” has listed five compelling reasons to live in the city of Casablanca, namely its financial center Casablanca Financial City (CFC), its tax benefits, its architecture, its surf clubs and his leading culinary art.
In an article written by Simon Brandon, the daily notes that for many, “the name of Casablanca challenges the images of the actress of the film of the same name, Ingrid Bergman in tears.” But today, the largest city in Morocco and also the largest financial center in Africa, “is more related to the banking sector than the American actor Humphrey Bogart”, second protagonist in the famous classic feature film: Casablanca.
The first reason for settling in the economic capital is its financial hub CFC, the paper said, adding that the city is now “the main financial center in the African continent, according to the Global Financial Centers Index.”
This success “can be attributed in part to the creation in 2010 of the CFC, this business hub formed from a public-private partnership”, whose goal is to make the city more attractive to foreign investors, explains your. Indeed, the CFC has “fulfilled its mission,” says the daily, saying that according to figures from UN Habitat, Casablanca has attracted $ 8.4 billion in foreign direct investment between 2003 and 2016.
The city’s second attraction, according to the newspaper, is “its tax benefits”, stating that “the cost of living in Casablanca is 60% lower than in London, according to Expatistan,” a comparative cost of living index between towns.
In addition, financial firms and their employees in the city also benefit from tax breaks, says the same source, noting that CFC financial institutions and service providers benefit from a “five-year tax holiday”, while “their employees may choose to pay a fixed rate of 20% income tax for 10 years instead of the standard progressive rate”.
The third attraction of the city is “its architecture and culture”, which “reflect the rich history of the Kingdom, especially the mixture of Art Deco and Moorish architecture,” comments the publication, adding that the Hassan II mosque, the second in Africa, home to the highest minaret in the world, with a height of more than 200 meters.
Also, according to The Financial Times, the culinary diversity of catering in Casablanca is another strong point that does not leave us indifferent. Casablancaise cuisine is also “impregnated with the multicultural flavor of the financial capital by acquiring a reputation as a privileged destination for gourmets”.
Finally, for lovers of the waves, Casablanca, the adventure is at the rendezvous. “With its hot summers, mild winters and expansive Atlantic coast, Casablanca is a surfer’s paradise, so much so that Stab, a surf magazine, has ranked it among the 10 most visited cities in the world” by practicing this sport, concludes the newspaper.