Maldives economy rebounds as tourists return – Tourism is on the rise yet again

The Maldives is a country that is heavily dependant on exports and tourism and the pandemic has taken its toll on the local economy. The great thing is that the Maldives was able to bounce back into action sooner than the rest of the world by introducing new stay packages designed to fit the rules of the new normal. Fitch announces that the country hopes to see normalisation in tourist arrivals up to 80% this year and will reach 100% in 2023.

The economy is said to have fallen 33.5% back in 2020 due to the raging pandemic. But the economy is now rising at a fast pace. The construction of the new terminal and new resorts across the islands are bound to bring in more travellers as the problem of “where to stay in Maldives” will be solved. The new hotels will be built keeping the COVID-19 precautions in mind. Also, resorts like Reethi Faru Resort have already begun to see an increase in arrivals compared to the previous year.