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Maldives central bank posts strong growth forecast for ‘resilient’ tourism industry

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Maldives central bank has posted a strong growth forecast for the country’s tourism industry as it hailed the resilience of the industry observed last year.

In its annual report for 2016 released Tuesday, Maldives Monetary Authority (MMA) said the strong growth observed in the tourism sector during the latter part of last year is expected to continue this year. The strong growth is attributed mainly to the increased number of tourists from the European market, which reflects better growth prospects for the region, it added.

Mirroring the positive outlook for the sector, MMA projected bed nights growth to be at five percent in 2017.

“These projections may be even higher if the remarkable performance seen in the tourism sector at the turn of the year continues,” the report read.

 

Recovery in second half of 2016

Maldives marked 2016 as ‘Visit Maldives Year’ in an effort to reach a target of 1.5 million tourists entering the country during the year. Several tourism promotion activities were carried out in Asia and Europe, and many competitions and events were also held within the Maldives to boost tourist arrivals. While the campaign was successful in attracting 1.3 million tourists — four percent more than the previous year — it fell short of reaching the 1.5 million target.

According to MMA, the trend in tourist arrivals to the Maldives during 2016 showed that arrivals picked up strongly in the second half of the year. This increase was underpinned by improving economic conditions in European countries, coupled with a rise in flight movements by international carriers over the period, the authority said adding that the strong growth in arrivals from the European markets more than offset the decline in arrivals from the Chinese market.

MMA noted that other key indicators such as bed nights growth also followed a similar trend, gaining momentum towards the latter part of the year and recording an overall growth of three percent for the year. Reflecting this, the average duration of stay, which has been on a downward trend, fell only slightly to 5.6 days in 2016 from 5.7 days in 2015, contributing to a six percent growth in estimated tourism receipts, it said.

The tourism sector witnessed a major expansion in terms of the number of resorts and bed capacity in 2016, the authority stressed. With the opening of 11 new resorts, the total number of resorts in the country increased to 126 at the end of the year, while the number of registered guesthouses, hotels and safari vessels reached 382, 16 and 144, respectively. With regard to bed capacity, the average operational bed capacity of the industry7 stood at 29,457 beds.

 

Tourist demographics: Europe regains market share

As for the market share of tourists, Europe accounted for 45 percent of total tourist arrivals, while Asia accounted for 46 percent. Reflecting the improving economic conditions in the European markets, market share for Europe increased; this was a reversal of the downward trend of previous years. However, the market share of Asia — the market leader since 2014 — dipped from the 49 percent in 2015 to 46 percent in 2016.

Arrivals from the European market grew significantly at seven percent during 2016 after recording a marginal growth rate of one percent in 2015. This was mainly supported by growth in arrivals from the UK, despite a marked depreciation in the pound sterling. On the other hand, Germany, the second largest market from the region registered a marginal growth owing to political tensions in their country. Other key markets such as Italy registered a remarkable positive growth, whereas growth in tourists from France dropped significantly during the year. Arrivals from Spain also registered a sizeable growth compared with previous years. In addition, arrivals from smaller source markets in Eastern, Central and East Mediterranean Europe also improved.

“This can be attributed to an increase in flight movements to these regions during the year,” the report read.

MMA noted that arrivals from Russia — the fourth largest European market — also showed a strong positive growth after recording two consecutive years of negative growth. This reflected the easing of the recent economic recession that was prevalent in the country, it said.

Total arrivals from the Asia and Pacific region registered a marginal decline in 2016 after posting a positive growth during the previous year. Growth was largely hampered by the 10 percent decline in Chinese arrivals.

However, other key markets from the Asian region — such as India, Sri Lanka and Malaysia — showed pronounced growth on the back of increased flight movements. Some operators introduced flights to new destinations in 2016, including new flights to New Delhi and Colombo, contributing to more arrivals from both India and Sri Lanka.

MMA attributed the increase in arrivals from Malaysia to the growth in flight movements of a regional low-cost carrier from South East Asia during the year.

Arrivals from the Middle East also posted a strong growth rate, owing to an increase in arrivals from Saudi Arabia. This may be due to a new the commencement of Saudi Arabia’s flagship carrier Saudia between Riyadh and the Maldives, according to MMA.

Arrivals from the Americas, which have doubled in the past five years, also increased due to considerable growth in arrivals from the US.

 

Similar trends in 2017?

Despite the strong growth forecast by the central bank, Maldives has experienced another slowdown in tourist arrivals in the first quarter of the year. January saw a significant increase in arrivals, but growth has slowed down since then with a 2.1 percent drop in arrivals in March.

Europe, the largest regional source market which has been recovering for the past couple of months after a year of falling growth, also posted a drop of three percent in March with important European markets such as the United Kingdom declining by nine percent.

Middle East, one of the most important emerging source markets, also observed a decline of 8.3 percent in March with arrivals from Saudi Arabia dropping by 31 percent.

Leading global market research and analysis firm STR has also said that the Maldives tourism industry observed a moderate performance in the first quarter of the year.

A report analysing Asia Pacific hotel industry performance shows that occupancy fell by one percent to 69 percent in the Maldives during the first quarter. Average Daily Rate (ADR), however, increased by 2.3 percent to MVR13,044.63 (USD846.5) and Revenue Per Available Room (RevPAR) was up 1.3 percent to reach MVR9,000.17 (USD584).

RevPAR growth was moderate in the Maldives throughout the quarter despite a 10.3 percent increase in January, which was due to a 32 percent rise in arrivals from China during the Spring Festival Golden Week holiday. RevPAR growth for the quarter, however, became muted with declines in both February (-3.8 percent) and March (-4.2 percent).

Over the past three years, dozens of uninhabited islands have been leased to local and foreign resort developers. Several international brands have entered into the market, increasing the number of resorts to 120. That number is set to increase as the government has announced the opening of some 20 new resorts by the end of this year.

Along with the new resort openings come the challenge of increasing demand from budget travellers who choose guesthouses over luxury resorts that the Maldives is known for. The guesthouse sector has rapidly expanded with over 300 guesthouses in operation today.

Government has come under fire from private organisations representing industry stakeholders such as the Maldives Association of Travel Agents and Tour Operators (MATATO) over the lack of effort and budget to promote the Maldives as a destination.

The government has recently announced new steps to maintain a structured growth in tourism, including a slowdown in leasing islands for resort development and increased marketing efforts in key markets such as China and the Middle East in order to reach an ambitious target of a record 1.5 million tourist arrivals this year.

Photo courtesy: Amilla Fushi

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Maldives Madridistas: Patina Maldives, Fari Islands Nets Exclusive Football Camp Partnership with the Real Madrid Foundation

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Younger guests at Patina Maldives, Fari Islands can embrace new patterns of play this summer at an exclusive, Maldives-first Real Madrid Foundation football camp. From 4 July – 12 August, a youth coach will lead a comprehensive Real Madrid Foundation programme of daily soccer sessions for ages 5-9yrs, 10-14yrs, and 15-17yrs. The coach will be joined by an elite player ambassador from UEFA’s all-time no. 1 ranked football club toward the end of the programme.

This summer’s inaugural Patina Maldives x Real Madrid CF Foundation football camp is the first edition in an ongoing partnership, with additional future football camp dates to be confirmed. Led by a licensed Real Madrid Foundation coach, sessions will focus on developing each participant both individually and as part of the group, in order to ‘Play The Real Way’ – the training methodology that combines play, as well as sports values.

Sessions will take place on a new, purpose-built 6 a side astroturf pitch located near the Fari Marina Village at Patina Maldives.

All participants will receive an official camp football camp shirt, shorts, socks, drawstring bag, sweatbands, and cap; while those completing a minimum of four days’ coaching will also be presented with a Real Madrid Foundation participation certificate.

Real Madrid Foundation football clinics at Patina Maldives, Fari Islands are priced at USD195++ per child per session for guests of the resort. Bookings are also open to guests from neighbouring resorts, from USD250++ per child per session.

Rates at Patina Maldives, Fari Islands start from USD2,054 (approx. GBP1,620) per night based on two adults sharing a One Bedroom Pool Villa including daily breakfast, complimentary Guest Benefits, tax, and service. Terms and conditions apply.

For more information and reservations, please visit https://patinahotels.com/maldives or contact reservations.maldives@patinahotels.com. For more information on Pathways, please see here.

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A blissful island Easter celebration at Alila Kothaifaru Maldives

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Experience unique and enriching getaways at Alila Kothaifaru Maldives, as the luxury resort unveils exciting benefits for family getaway packages launching this season. Guests are invited to immerse themselves in the ethereal charm of the Maldives.

Nestled in the pristine Raa Atoll, Alila Kothaifaru Maldives seamlessly blends eco-friendly architecture with contemporary sophistication, complemented by the untouched, rugged beauty of the Raa Atoll. Situated amidst miles of untouched marine life, Alila Kothaifaru invites guests to reconnect with nature in the most extraordinary ways. With spacious villas and private pools, guests can truly experience the essence of a getaway where luxury and adventure harmoniously coexist.

Surrounded by azure skies and the turquoise waters of the Raa Atoll, Alila Kothaifaru Maldives offers an idyllic setting for a family escape during the Easter break. Here, guests can unwind in luxurious, nature-immersed surroundings, embark on exciting adventures together, and indulge in unforgettable wellness and culinary experiences.

During Easter weekend, Play Alila will delight young guests with a diverse range of festive island-inspired activities, including Easter egg decorating, arts and crafts, face painting, and more. For those seeking relaxation, Spa Alila offers enticing packages for parents and children to enjoy quality bonding time.

For the adventurous souls, do not miss the chance to join our Sparkling Underwater Egg Hunt. Hidden throughout one of our nearby dive sites, these eggs hold a special surprise. The lucky diver who discovers the egg with a unique mark will win an exclusive clutch made of Swarovski crystal valued at EUR 1,800!

Embark on an Easter journey to remember at Alila Kothaifaru Maldives. Explore all of the Easter events and activities at Alila Kothaifaru Maldives here 

Family Getaway Package

  • Booking Period: Until 30 October 2024
  • Stay Period: Until 25 December 2024

Experience a family holiday rich with memorable moments. From nature walks to energetic beach activities, Alila Kothaifaru Maldives’ offerings extend to the whole family. Indulge in a host of fun adventures together, or relax while your children participate in creative indoor and outdoor activities. Enjoy special family welcome amenities upon arrival, return seaplane transfers, daily full-board meals, and a special offer on wellness treatments. Experience the beauty of our island while creating lasting memories to be treasured!

Stay with us during the Easter period from 25-31 March 2024 and be treated to a wide range of festive island inspired activities such as Easter egg decorating, arts and crafts, egg hunting around the island and underwater, wellness offering, and many more!

For more information and reservations, please contact kothaifaru@alilahotels.com or visit alilahotels.com

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Love’s Oasis: Siyam World Invites Couples To Celebrate And Embrace Romance On White Valentines’ Day

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Romance never ends, get ready to swoon, Siyam World is pulling out all the stops to make this White Valentine’s Day one for the books.  Nestled in the heart of the Maldives, Siyam World invites couples to indulge in a whirlwind of romance and adventure on March 14th, 2024.

Internationally acclaimed DJ Youna will headline the evening’s entertainment, enchanting guests with her signature blend of melodic techno and progressive house music. Against the backdrop of the Maldivian night sky, guests can dance under the stars and create cherished memories with their loved ones. DJ Youna, the rising star of melodic techno and progressive house, is set to serenade you and your beloved under the starlit skies of Siyam World.

YOUNA, an emerging DJ/Producer specializing in melodic techno and progressive house, hails originally from South Korea. Her musical trajectory took an unforeseen turn upon her relocation to Dubai, where she developed a profound affinity for house music—a genre less prevalent in the Asian music landscape. Dedication to refining her craft led YOUNA to cultivate a distinctive sound, skilfully merging emotive melodies with the infectious energy of her compositions.

Despite embarking on her production and DJing journey in 2022, YOUNA has swiftly ascended to prominence on the global music scene. Her debut single, ‘Self-Doubt,’ ascended to the top 14 in progressive house and secured the 4th position on Beatport’s hype chart. YOUNA’s music, characterized by potent beats and evocative soundscapes, transcends cultural boundaries, dismantling barriers and creating a harmonious fusion on the international stage. Get ready to dance the night away and create memories that will last a lifetime with DJ YOUNA

Siyam World has also curated a line-up of experiences that will make your heart skip a beat. Dive into the culinary wonders of the Maldives with our Maldivian Culinary Workshop at Kaage, where you will learn the secrets of local cuisine from our talented chefs.

Treat your special someone to a Destination Dinner or a Special Romantic Dinner, complete with a romantic movie screening to set the mood. And for the ultimate indulgence, why not enjoy a Wine Cellar Dinner? Gift your loved one with chocolates and flowers made available for this special day. Sip on mimosas and savor delicious bites while soaking in the breath-taking views of Siyam World.

Mark your calendars, lovebirds, because White Valentine’s Day at Siyam World is going to be one for the books! Book your romantic getaway now and get ready to fall in love all over again.

For more information, visit Siyam World or follow on InstagramFacebookTwitterTikTok or YouTube. For booking enquiries email: stay@siyamworld.com.

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