Maldives Aims to Boost Tourism Revenue to MVR 6 Billion

The Maldives government, under the leadership of President Dr. Muizzu, has announced ambitious plans to elevate the nation's tourism revenue to MVR 6 billion annually. Tourism Minister Ibrahim Faisal outlined the strategy in a recent press conference held by the Economic Council of the cabinet.

Currently, the tourism sector, a cornerstone of the Maldives' economy, garners MVR 4.5 billion per year. Minister Faisal emphasized the administration's goal to diversify tourism offerings beyond the traditional sun-and-sand model. He highlighted the potential for developing sports and medical tourism, citing the successful implementation of such models in advanced economies.

Drawing parallels with Germany's renowned training academies, Minister Faisal elaborated on the vision where the Maldives could become a destination for families seeking to train their children in various disciplines, thereby extending their stay and contribution to the local economy.

The newly inaugurated government, which took office on November 17, 2023, has established three cabinet-level councils to steer the nation towards this goal. The Economic Council, led by Economic Minister Mohamed Saeed, the Social Council headed by Vice President Faisal Naeem, and the Visit Economy Council, jointly chaired by President Dr. Muizzu and Tourism Minister Faisal, will collaborate to realize the MVR 6 billion target.

The initiative marks a significant step in the government's broader economic strategy to enhance the Maldives' position as a multifaceted tourism hub. The move is expected to create new jobs, attract international investment, and secure the Maldives' reputation as a world-class destination with diverse offerings that cater to a wide array of interests and needs.