Maldives needs vision for growth, not misguided criticism and burdensome policies
Recent remarks made by a few politicians mocking the Indian Prime Minister as having “cost the Maldives millions” are not only baseless but also deeply unproductive. Such rhetoric detracts from addressing the real challenges the country faces, particularly in its tourism-driven economy. Instead of indulging in baseless debates, the Maldives should prioritise strategies to boost […]
Unlocking potential of Maldives: Role of private investment in transforming uninhabited islands
The Maldives is renowned for its breathtaking resorts and luxury tourism offerings, but it’s worth remembering that many of these iconic destinations started as uninhabited islands, devoid of infrastructure, facilities, or revenue generation. Hundreds of islands across the Maldives remain in this same undeveloped state today, contributing little to nothing the state or public in […]
Maldives enforces new foreign exchange rules: $500 per tourist at resorts, $25 at guesthouses
The Maldives Monetary Authority (MMA) on Tuesday implemented new regulations requiring resorts and guesthouses to exchange a portion of their foreign currency earnings, effective immediately. Under these rules, tourism service providers must exchange foreign currency income based on tourist arrivals, with separate requirements for resorts and guesthouses. According to the regulations, Category A tourism service […]
Maldives targets 3 million annual tourists by 2026 with focus on India, China
The Maldives government is targeting to boost annual tourist arrivals to an unprecedented three million by 2026, according to Tourism Minister Ibrahim Faisal. Speaking on PSM’s ‘Raajje Miadhu’ programme, Minister Faisal expressed confidence that the goal would be within reach following the completion of the new passenger terminal at Velana International Airport (VIA), anticipated to […]
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 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 […]
Debt, weak policies affect Maldives’ tourism, investor appeal, new MATATO report warns
The Maldivian economy is in a fragile state primarily caused by a dollar crisis and excessive government expenditure, with negative impacts on the local tourism sector and investor interest in the destination, a new study by the Maldives Association of Travel Agents and Tour Operators (MATATO) said on Thursday. The report, based on extensive qualitative […]
Maldives sees increase in Middle Eastern travellers!
On an international scale, a report by the UN World Tourism Organisation (UNWTO) foresees 35 million tourists from the Middle East travelling to foreign destinations by the year 2020. This is a recognition worthy number to take a second look at, as the Middle East is increasingly becoming one of the best markets to tap […]
