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

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8 years ago

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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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Awards

Kudadoo Maldives secures top 1% global ranking with prestigious TripAdvisor award

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4 days ago

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May 29, 2025

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Kudadoo Maldives Private Island by Hurawalhi has been named a ‘Best of the Best’ winner in the prestigious 2025 TripAdvisor Travellers’ Choice Awards. This elite honour places Kudadoo among the top 1% of hotels worldwide, a distinction earned through consistently outstanding guest reviews and ratings over the past year.

Building on its legacy of excellence, Kudadoo also secured the #18 position in Asia’s Small & Boutique Hotels category, recognised for its unparalleled approach to ultra-luxury hospitality, eco-conscious ethos, and personalized all-inclusive experiences that redefine exclusivity.

Akira Shiota, General Manager of Kudadoo Maldives Private Island, emphasised that every detail at Kudadoo is designed with purpose to offer unparalleled freedom, tranquil privacy, and an intimate connection to nature. He stated that receiving the ‘Best of the Best’ award once again validates the resort’s commitment to exceptional, conscious luxury, crediting the dedicated team and loyal guests for inspiring continuous elevation of the experience.

Designed by acclaimed Japanese architect Yuji Yamazaki, Kudadoo is a fully solar-powered sanctuary crafted for effortless luxury and meaningful indulgence. The island is home to just 15 exclusive Ocean Residences, each positioned above the crystal-clear waters of the Indian Ocean, offering a personalized escape with 24/7 private butler service.

Guests at Kudadoo can enjoy a wide range of curated experiences, from swimming with manta rays to bespoke beachside barbecues, tailored to meet the desires of discerning visitors—many of whom return year after year for the resort’s signature blend of serenity, sophistication, and sustainability.

Mohamed Solah, CEO of Crown & Champa Resorts, the management company behind Kudadoo, remarked that the award celebrates the essence of what the resort offers: freedom, privacy, and pure indulgence. He noted that being recognised by global travellers year after year is a remarkable achievement and a testament to the passion, dedication, and outstanding service delivered by the resort’s teams daily.

Kudadoo is accessible via a scenic seaplane journey or a domestic flight followed by a speedboat transfer, ensuring a seamless and stress-free transition into paradise.

This milestone adds to Kudadoo’s growing list of accolades, including its status as a 2024 TripAdvisor Travellers’ Choice Winner, which placed the resort among the top 10% of hospitality businesses worldwide. With an unwavering focus on innovation, wellbeing, and elevated service, Kudadoo continues to set the standard for private island living in the Maldives.

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Awards

Kuredu Island Resort earns top honours in 2025 TripAdvisor ‘Best of the Best’ Awards

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4 days ago

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May 29, 2025

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Kuredu Island Resort & Spa has been honoured with the prestigious ‘Best of the Best’ accolade in the 2025 TripAdvisor Travellers’ Choice Awards, ranking it among the top 1% of hotels worldwide. This distinction represents the highest level of excellence awarded by TripAdvisor, celebrating destinations that consistently provide exceptional service, outstanding value, and unforgettable guest experiences.

Selected from millions of traveller reviews and ratings collected over the past year, the Travellers’ Choice ‘Best of the Best’ Award reflects Kuredu’s unwavering dedication to exceeding expectations and crafting joyful, memorable stays. Guests worldwide have praised the resort’s warm Maldivian hospitality, extensive range of activities, diverse dining options, and idyllic island setting that seamlessly balances excitement with tranquility.

Mohamed Solah, CEO of Crown & Champa Resorts, commented that Kuredu’s vibrant charm, variety of adventures, and heartfelt hospitality continue to captivate guests. He emphasised that the award not only recognises the resort’s exceptional service but also the emotional connections the team fosters with every guest. He expressed deep pride and gratitude toward the Kuredu family and loyal visitors for helping achieve this significant milestone.

Situated in the turquoise waters of the Lhaviyani Atoll, Kuredu Island Resort & Spa is one of the Maldives’ most beloved and iconic destinations. As the sole resort on Kuredu Island, it offers an exclusive sanctuary welcoming families, couples, and solo travelers alike. The resort features 389 villas and bungalows, ranging from beachside retreats to overwater hideaways, blending rustic charm with luxurious comfort.

Guests can enjoy a wide variety of experiences catering to all preferences and tempos. Activities include world-renowned diving at nearby coral reefs, water sports, sunset dolphin cruises, yoga sessions, full-service spas, and culinary journeys across multiple restaurants and bars. Kuredu aims to offer more than just a holiday — it provides stories worth sharing.

The resort’s family-friendly amenities, including kid-focused activities and multi-generational villa options, make it a top choice for travellers with children. Couples are attracted to romantic beach dinners, secluded sunset spots, and the peaceful O’ Resort area designed for adults seeking intimacy and calm.

Jorge Amaro, General Manager of Kuredu Island Resort & Spa, highlighted the resort’s deeply personal approach. He explained that it is the small gestures — such as remembering a guest’s favourite drink or sharing a genuine smile — that create lasting memories. He noted that the award reflects the passion, dedication, and authenticity of the entire team, who strive to make every guest feel truly at home on the island.

The 2025 recognition adds to Kuredu’s impressive array of accolades earned over the past decade. The resort has consistently upheld its reputation as one of the Maldives’ most admired hospitality destinations, with multiple TripAdvisor honours including:

  • 2024 TripAdvisor Travellers’ Choice Award — Recognised among the top 10% of hospitality businesses worldwide
  • 2019 Certificate of Excellence — Awarded for consistently high guest ratings
  • 2017 TripAdvisor Certificate of Excellence
  • 2014 Certificate of Excellence, UK — Based on outstanding guest reviews
  • 2013 Travellers’ Choice Award, UK — Ranked #21 among the Top 25 Resorts in the Maldives for Best Service
  • 2013 & 2012 Certificate of Excellence, UK — Recognised for consistent excellence in guest satisfaction

These honours reflect Kuredu’s longstanding commitment not only to meeting international hospitality standards but also to creating a sense of belonging, excitement, and wonder for guests from around the world.

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Awards

Komandoo Island Resort & Spa shines in 2025 TripAdvisor Travellers’ Choice Awards

Published

5 days ago

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May 28, 2025

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Komandoo Island Resort & Spa has been recognised as a winner in the 2025 TripAdvisor® Travellers’ Choice® Awards, earning a place among the top 10% of hotels globally. This prestigious accolade reflects the boutique adults-only resort’s enduring charm, thoughtful details, and commitment to delivering exceptional guest experiences in an intimate and romantic setting.

As a member of the TripAdvisor Hall of Fame, Komandoo has long maintained a reputation as one of the Maldives’ most beloved resorts for couples and honeymooners. With just 65 villas situated along pristine beaches and above a shimmering turquoise lagoon, the island offers an idyllic retreat where love, serenity, and barefoot luxury thrive.

According to Mohamed Solah, CEO of Crown & Champa Resorts, “This recognition is a testament to the genuine care our Team of Champions puts into every stay. At Komandoo, hospitality is more than a service—it’s a heartfelt connection with each guest.”

Ahmed Naseem, General Manager of Komandoo Island Resort & Spa, added, “What makes Komandoo special is the soul of the island—our champions’ passion, the intimacy of the setting, and the heartfelt experiences created for every guest. Being honoured year after year by our guests and by TripAdvisor inspires us to keep delivering unforgettable moments in one of the most romantic corners of the world.”

Komandoo’s adults-only policy and tranquil environment make it an exceptional choice for honeymoons, anniversaries, and couples’ getaways. Guests enjoy uninterrupted serenity, romantic beach dining, curated experiences, and wellness offerings designed for reconnection and relaxation.

Komandoo’s inclusion in the 2025 Travellers’ Choice Awards continues a long-standing tradition of excellence celebrated by TripAdvisor and the global travel community. Among the numerous accolades the resort has received from TripAdvisor over the years are:

  • TripAdvisor Travellers’ Choice Award Winner 2025 & 2024
  • TripAdvisor Certificate of Excellence – 2019
  • Travellers’ Choice Awards – UK – 2018
  • Certificate of Excellence – UK – 2016
  • TripAdvisor Travellers’ Choice Awards – UK – 2015 – | #1 Romantic Resort in the Maldives | #7 Top Hotel for Service in Maldives | Top 10 Hotels in Maldives
  • Certificate of Excellence – UK – 2015 & 2012
  • Five-time Certificate of Excellence Winner (2011–2015)
  • TripAdvisor Travellers’ Choice Award – 2009 (UK) | #1 Romantic Resort in Maldives | #1 in Asia | #7 in the World

These accolades highlight Komandoo’s unwavering commitment to guest satisfaction and its dedication to delivering memorable, personalised stays.

With its adults-only policy and serene setting, Komandoo offers an unparalleled destination for honeymoons, anniversaries, and romantic escapes. Guests are treated to uninterrupted tranquillity, bespoke beach dining experiences, wellness offerings, and curated activities designed to foster reconnection.

The resort features a variety of accommodations, from overwater villas with direct lagoon access to beach villas shaded by palms, each offering comfort, privacy, and luxury. Additional highlights include award-winning dining, indulgent spa treatments at Duniye Spa, and a vibrant house reef ideal for snorkelling enthusiasts. Komandoo seamlessly blends Maldivian authenticity with modern comforts and heartfelt service. As the island’s only resort, it offers guests a rare sense of exclusivity—where every detail is crafted to let love stories unfold.

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