Maldives plans 5 resorts in Kaafu Atoll for tourism diversification
The Visitor Economy Council, established after the new government’s inaugural cabinet meeting, is set to initiate the development of five resorts in the Kaafu atoll, aiming to broaden the spectrum of tourism in the Maldives. Tasked with promoting diverse tourism sectors across the nation, the council’s focus extends beyond traditional tourism, encompassing areas such as […]
Maldives tourism leaders to probe revenue drop despite increased arrivals
Tourism Minister Ibrahim Faisal and the new Managing Director of MMPRC, Fathimath Thaufeeg, highlighted plans to investigate why the surge in tourist arrivals in Maldives hasn’t translated into increased revenue. The government’s target of hosting 1.8 million tourists for the year was hit with the arrival of the 1.8 millionth tourist on Wednesday. Following a […]
Maldives tourist arrivals cross pre-pandemic highs; on track to reach annual target
The Maldives has hit an all-time high in tourist arrivals, signalling a stride towards achieving its annual tourism goal. In 2019, the Maldives welcomed 1,702,831 visitors, marking the highest tally for any year. However, as of December 12 this year, the nation has already surpassed this figure with a record 1,752,706 arrivals. This surge, the […]
Maldives hotel performance weakest in Asia Pacific, new study reveals
Hotels and resorts in Maldives posted the weakest performance in the Asia Pacific region, with Gross Operating Profit Per Available Room (GOPPAR) at -11.8% in the past 12 months, according to the most recent Asia Pacific Hotels Monitor put out by hospitality advisory firm Whitebridge. The last 12 months saw many good performers in the […]
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%. […]
Maldives tourism revenue drops by $200m in 8 months
Despite an increase in overall tourist arrivals to the Maldives, the tourism sector has generated $200 million less in income in the first eight months of this year compared to the same period in 2022, according to data released by the Maldives Monetary Authority (MMA), the central bank. The data reveals that Maldives received $2.5 […]
Maldives tourism weakens as occupancy growth slows, bed nights declines
The Maldives tourism sector, which is the main source of foreign exchange earnings for the island nation, has faced a slowdown in its growth, according to the latest data released by the Maldives Monetary Authority (MMA). According to the the central bank’s Monthly Economic Update (October 2023), total tourist arrivals in September 2023 stood at […]
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, […]
Maldives tourism faces steep decline in Q2; hints at signs of recovery in Q3
The Maldives tourism sector experienced a significant downturn in the second quarter of 2023, according to the recently published Quarterly Business Survey by the Maldives Monetary Authority (MMA). The survey, which covered the period from April to June, revealed a sharp decline in key indicators, underscoring the challenges faced by tourism businesses amid an uncertain […]
Maldives Monetary Authority: growth in tourism and construction expected in 2016
The National Bureau of Statistics suggests that although real GDP growth for 2015 is expected to slow down, 2016 looks promising.
