Turning the Tide in 2024
Maldives’ tourism industry, a vital pillar of the nation’s economy, faced significant setbacks in recent years. In 2023, resort revenue plummeted by $529 million, partly due to the aftermath of COVID-19 and an unofficial Indian boycott, which resulted in a shortfall of 55,000 Indian tourists. President Muizzu took proactive steps to repair relations with India, leading to the “Welcome India” campaign and a recovery in visitor numbers.
By September 2024, 1.47 million tourists had visited the Maldives, with increased arrivals from China and India. President Muizzu’s initiatives, including the Asseyri Tourism project and plans for new resorts, aim to bolster future growth. All-inclusive Maldives resorts like the well-known Adaaran Select Hudhuranfushi are poised to benefit from the ongoing tourism revival. With support from India’s financial aid and infrastructure projects, the Maldives is on track to reach its ambitious tourism targets, guided by the Fifth Tourism Master Plan, which emphasises sustainability and diversification.
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