Maldives tourism generates $883 million in Q2 2023

The Maldives Monetary Authority (MMA) has reported that the country’s tourism industry brought in USD 883.4 million (MVR 13.62 billion) in revenue during the second quarter of 2023.

According to MMA data, there was a 3% increase in tourist bed nights during this period. Additionally, revenue from transportation saw a 6% boost compared to the same quarter the previous year.

In the second quarter of 2022, the tourism sector had generated USD 835.6 million. However, this year’s second quarter witnessed a USD 47.8 million increase, resulting in a total revenue of USD 883.4 million, equivalent to MVR 13.62 billion in local currency.

The number of operational resorts also saw growth, with 170 resorts in operation during the second quarter of 2023, as reported by MMA. This marked an increase from 169 operational resorts in the first quarter of this year and 164 during the same period last year.

The industry’s operational bed capacity rose by 7% compared to the previous year due to the increased number of resorts in the second quarter. Resorts accounted for the lion’s share, making up 68% of the total operational bed capacity, closely followed by guesthouses at 24%.

By the end of the second quarter of 2023, the Maldives welcomed a total of 1.2 million tourists. Among the countries providing the highest number of tourists, Russia led the list, followed by India and China.