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Maldives, the leading world destination has unveiled key strategic development plans for the tourism sector.
In his first Presidential Address in Parliament since his inception, President Dr. Mohamed Muizzu announced the government’s vision for development aimed at enhancing tourism services and strengthening revenue channels.
A special tourism development plan for Addu City known as “Asseyri Tourism” is being prepared to launch as a special coastal tourism project with a seaplane hub.
The Maldivian tourism sector, the cornerstone of its productivity, is poised to reach a significant milestone by welcoming 2 million tourists this year, for the first time. In 2023, Maldives celebrated the arrival of 1,878,537 tourists throughout the year, surpassing the set target of 1.8 million arrivals. The milestone of one million tourist arrivals was achieved on 12th August 2023, followed by the 1.8 millionth arrival on 20th December 2023, meeting the annual goal.
Projections indicate that this growth trajectory will persist, with an average annual increase of 10.3 percent in the medium term, propelled by the completion of Velana International Airport and the introduction of new flight routes, as per the government.
During his address, President Dr. Muizzu noted the importance of diversifying the tourism offerings for expanding the entire economy, leveraging the Maldives’ considerable competitive advantage in this sector.
In the tourism sector, the government aims to open 20 new resorts this year and create more than 2800 beds. In addition to this, to facilitate the completion of unbuilt resorts and the work of identifying solutions to the difficulties in the development of the islands, land and reef area leased for tourism development has already started.
With the projected GDP expansion of 5.5 percent this year and an average annual growth rate of 7.1 percent in the medium term, the Maldives is positioned for continued economic prosperity.
