Maldives to offer incentives for tourism investment in 5 underserved atolls
The government will introduce new incentives for tourism development in five atolls with the lowest number of resorts, President Dr Mohamed Muizzu announced on Saturday. The atolls identified for these measures are Haa Alif, Haa Dhaalu, and Shaviyani in the northern region, and Thaa and Laamu in the south. The President stated that the aim […]
World Bank projects 5.7% Maldives GDP growth in 2025, driven by new airport terminal
The World Bank has projected that the Maldives’ real GDP will grow by 5.7% in 2025, supported in large part by the anticipated completion of the new terminal at Velana International Airport (VIA). In its latest Maldives Development Update, the World Bank notes that medium-term economic growth is expected to strengthen slightly, with improved performance […]
Maldives reduces resort lease extension fees; introduces instalment payment option
The government has reduced the fees for extending the lease term of resorts and introduced an instalment payment option, effective from Wednesday. The change follows the recent amendment to the Tourism Act, which was passed by parliament on Wednesday and ratified by President Mohamed Muizzu Wednesday afternoon. The bill was passed with modifications proposed by […]
Maldives tourism in 2025: Growth in numbers and decline in revenue?
As we move into 2025, the Maldives—a destination synonymous with luxury, pristine beaches, and crystal-clear waters—continues to attract travellers from around the globe. While initial projections indicate a slight increase in tourist arrivals this year, the underlying narrative is less optimistic. Despite the increase in visitor numbers, tourism revenue is unlikely to see a corresponding […]
Maldives sets $5 billion tourism receipts target for 2025
Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) has set an ambitious target of $5 billion in tourism receipts for 2025. The announcement was made during a press conference held at the MMPRC headquarters on Sunday by Abdulla Ghiyas, Chairperson of MMPRC, and Ibrahim Shiuree, CEO and Managing Director of MMPRC. Building on the achievements […]
Maldives tourism marketing to shift focus to conversion-driven marketing in 2025
Maldives Marketing and Public Relations Corporation (MMPRC) announced a new strategic direction for its tourism marketing efforts in 2025. Moving away from traditional trade shows, Visit Maldives will adopt more conversion-driven marketing tactics, with an emphasis on digital campaigns, video-based content, and strengthened international collaborations. The announcement was made at a press conference held at […]
President ratifies forex bill requiring dollar exchange in tourism
President Mohamed Muizzu on Saturday ratified the Foreign Exchange Bill, which introduces new regulations requiring foreign exchange earners in the tourism sector to exchange a portion of their foreign currency earnings to Maldivian rufiyaa. Parliament on passed the bill on Thursday. Key provisions of the law include: Category A establishments (resorts): Resorts can either exchange $500 […]
Forex bill proposes optional $500 per tourist exchange
Parliament on Monday received the new foreign exchange bill, which proposes to change the current mandatory requirement for resorts to exchange $500 per tourist optional or to enable them to exchange 20% of revenue instead. The bill was presented by Inguraidhoo MP and PNC parliamentary group leader Ibrahim Falah on behalf of the government. It […]
Tourism minister calls for greater Maldivian ownership in resorts
Tourism Minister Ibrahim Faisal has reiterated the government’s commitment to increasing Maldivian ownership and leadership in the tourism sector, particularly within resorts. Speaking on World Tourism Day, Faisal highlighted this as one of the government’s key objectives. Faisal said that Maldivians show strong interest in tourism and that the government is encouraging young people to […]
Maldives reserves several tourism jobs for locals
The Maldivian Cabinet has earmarked specific job sectors, especially those in the tourism industry, exclusively for locals, aiming to prioritise national recruitment efforts. In a press conference held by the President’s Office on Monday, Abdullah Nazim Ibrahim, the Principal Secretary on Public Policy, highlighted one of nine proposals presented to the Cabinet meeting on Sunday […]
Maldives tourism in precarious state, MATATO says
The Maldives Association for Travel Agents and Tour Operators (MATATO) on Thursday unveiled the findings of a recent survey highlighting the fragile state of the country’s tourism industry. MATATO’s President, Abdulla Giyas, presented the results of the survey, which involved more than 2,000 participants, at a press conference. Notably, these participants included not only local […]
Maldives faces $1.7b annual economic loss from 88 unfinished resorts
The Maldivian tourism industry is grappling with a substantial setback as 88 resorts designated for development remain incomplete, resulting in an annual economic loss of $1.7 billion, as per the Finance Ministry’s fiscal statement for 2024-26. Maldives, heavily reliant on tourism, considers these unfinished resorts a linchpin of its economic prosperity. However, these 88 islands, […]
