Maldives tourism sees mixed performance in Oct; occupancy drops by 5%

The Maldives tourism sector recorded a mixed performance in October 2023, according to the latest Economic Update report released by the Maldives Monetary Authority (MMA) on November 30.

The report showed that total tourist arrivals stood at 159,141 in October, registering an increase of 4% when compared with October 2022, whereas bednights declined by 3%. The annual increase in tourist arrivals largely reflected robust arrivals from the main source markets of Europe as well as China. During the month, the highest number of tourist arrivals were recorded from Russia, China, Germany, India, and the United Kingdom.

However, the report also revealed that the occupancy rate of the tourism industry declined to 53% in October 2023, from 58% in October 2022. The operational bed capacity of the tourism industry observed an increase of 3,545 beds when compared with October 2022.

The MMA attributed the decline in occupancy rate to the increase in bed capacity, which outpaced the growth in tourist arrivals. The report also noted that the average stay of tourists observed a decline to 7.6 days in October 2023, from 8.1 days in October 2022.

Overall, for the period January to October 2023, total tourist arrivals increased by 13% in annual terms, while bednights rose by 7%. During the period, the average stay observed a decline to 7.6 days, from 8.1 days in the corresponding period of 2022.