Maldives faces challenge from Saudi Arabia’s Red Sea Project, says tourism minister
Tourism Minister Ibrahim Faisal stated that Saudi Arabia’s Red Sea Project poses a challenge to the Maldives’ tourism industry. He noted that this initiative mirrors Maldives’ renowned attractions, including white sandy beaches, lush greenery, and peaceful islands. Speaking on World Tourism Day, Faisal highlighted the Maldives’ position as a world-leading tourism destination. However, maintaining this […]
Maldives seeks Indian investment for resort development near Hanimaadhoo airport
Tourism Minister Ibrahim Faisal announced on Thursday that efforts are underway to attract Indian investors to develop and open three resorts near HDh. Hanimaadhoo International Airport. In a briefing about the recent Welcome India roadshow, Faisal emphasised the need for 4,000 to 6,000 tourism beds in the region to ensure the airport operates efficiently. He […]
Maldives expects 8.3% surge in tourist arrivals for 2024
The Ministry of Finance predicts an 8.3% increase in tourist arrivals to the Maldives in 2024, according to the Medium-Term Fiscal Strategy Report 2024-2026. In 2022, the Maldives witnessed a more rapid recovery than projected, with an initial estimate of 1.63 million tourists and 10.4 million bed nights. However, the actual figures exceeded expectations, as […]
China set to become Maldives’ top tourism market by year-end
Maldives is witnessing a surge in tourism arrivals from China, signalling a significant shift in its tourism landscape. Tourism Minister Dr Abdulla Mausoom predicts that by the end of the year, China will surpass all other countries to become the number one source market for tourism in the Maldives. This year alone, the Maldives has […]
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 […]
Maldives hospitality market expected to reach $864b by 2028
The hospitality market in the Maldives has reached a valuation of USD 558.10 billion, with projections indicating a Compound Annual Growth Rate (CAGR) of 9.15% that will drive it to USD 864.81 billion by 2028. These findings emerge from a recently released market research report titled “Maldives Hospitality Market Report (2023-2028).” The Maldivian hospitality sector […]
Hospitality Investment Conference Indian Ocean kicks off in Colombo
[vc_row][vc_column][vc_column_text]The 3rd Hospitality Investment Conference Indian Ocean kicks off at the Hilton Colombo, Sri Lanka, bringing together the who’s who of the hospitality industry in the Indian Ocean. The Opening Session held at the Hilton Ballroom was honoured by John Amaratunga , Minister of Tourism and Christian Religious Affairs of Sri Lanka, Ravi Karunanayake, Minister […]
