Tangier is hard to pin down.
It’s Africa but Europe.
Very French and also Spanish… plus, of course, Arab.
Islamic but Christian and Jewish, too.
All blended seemingly seamlessly. This is a melting pot with centuries of experience learning how to mix.
People are respectful, polite, well-mannered, open-minded, and honest.
Converting dirham prices to the sometimes dollars, sometimes euros in our pockets, on the fly, sometimes got confusing. More than once, shopkeepers returned portions of our money to us, smiling while explaining that we’d given them too much.
On the ground this month with members of our Private Network group, we also noticed many similarities between Panama about 15 years ago and Morocco today.
Lief and I moved to Panama the year before Ricardo Martinelli was elected president. Then we sat back to enjoy our front-row seat to the transformation of what had been a sometimes maligned, generally misunderstood developing-world nation into what is today a recognized brand on the world stage.
A few months after taking office, Martinelli released his Five Year Plan calling for massive infrastructure improvement projects, including the expansion of the Panama Canal and its ports.
Martinelli was determined to grow Panama into the global logistics giant he knew it had the potential to become.
Morocco’s King Mohammed VI is on a similar mission. His Vision 2030 plan aims to position Morocco as the bridge between Africa and Europe and the leading African economic, technology, and infrastructure hub by 2030.
The change afoot is palpable.
In Tangier, where we focused our attention, redevelopment is the word of the day. Cranes dominate the skyline.
Just as Panama City reimagined its Cinta Costera two-and-a-half decades ago, so, now, is Tangier transforming its waterfront.
Here’s the plan for the new-and-improved city-center Tangier…
And this is the scene now…
New roads, expanded highways, city gentrification, and the continued development of the new port 40 kilometers outside Tangier are top of the king’s list, but his current priority project is his high-speed train.
Today, Morocco’s answer to France’s TGV runs from Tangier to Casablanca. Work is under way to extend the run to Marrakesh and Agadir.
When a contact in Tangier suggested we make a quick trip to Rabat to tour a potential investment site, we had the chance to test the King’s work.
The new train is a delight. The station on each end is bright, shiny, efficient, nearly futuristic and staffed by helpful, friendly, English-speaking folk who whisked us on and off in style for our one-hour-and-17-minute ride…
Our apartment for this stay had a view of Tangier’s cruise port, which welcomes one or two ships a day. Morocco is now Africa’s most visited country, enjoying record-level tourist arrivals and revenues… including in Tangier.
Lief has identified a short list of top investment opportunities in this market that sits now dead center of our radar. He’ll share first looks during our Live And Invest Overseas Money Event taking place online Nov. 18-19. You can find out how to join this virtual but live conversation here.
As Lief will detail, Morocco and specifically Tangier deserve the global investor’s attention right now…
But this country should also be top of the list for anyone looking to reinvent their life somewhere exotic, romantic, colorful, and historic that’s also sunny, safe, welcoming, and delightfully affordable.
Tangier is an international city with strong Euro-flavors. The daily rhythms are Spanish. The day begins late—after 9 a.m.—and doesn’t really get going until late afternoon. It’s not until the sun begins its descent that the good people are Tangier are fully engaged.
Dinnertime starts at 8, shops are open late, and a night out can continue until the next morning. Lief and I were asleep by the time Tangier’s famous nightlife kicked into high gear, but we did enjoy the activity on the beach at sundown…
I’d say it’d be easier to assimilate than you might imagine. English is common, and French is the second language. We met expats from across Europe and more Americans in residence than we expected.
On the other hand, we confirmed something that we did expect to be true. The cost of living in Tangier is a fraction the cost of elsewhere on the Med.
We visited one charming apartment for rent in a unique Art Deco building in an ideal location on a pleasant plaza just back from the sea at the marina. The one-bedroom, one-and-a-half bath apartment comes with high ceilings, moldings, and a fireplace… which might not get much use in this temperate climate but sure is a nice feature.
The rent is $400 per month.
Here’s the lobby of this charming building of character. That’s our Senior Europe Editor Kat Kalashian appreciating the space…
And here’s the view from the living room window…
Until next time,
