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Maldives central bank posts strong growth forecast for ‘resilient’ tourism industry
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
Centara Hotels & Resorts is marking Valentine’s Day across its four Maldivian resorts with a collection of curated experiences designed to reflect different expressions of romance, from wellness and gastronomy to shared adventure and quiet celebration. Set within the Maldives’ natural environment of open horizons, white-sand beaches and private island settings, each property presents a tailored programme for couples seeking time together in a relaxed and intimate atmosphere.
Centara Grand Lagoon Maldives
Centara Grand Lagoon Maldives will mark Valentine’s Day on 14 February with a programme of romance-themed experiences set within its island surroundings at The Atollia by Centara Hotels & Resorts. The day is designed around shared activities and curated moments intended to encourage connection and creativity.
Evening celebrations begin at Coco Drift with the Salaan Galaan Valentine’s Soirée, followed by a four-course beachfront dinner accompanied by selected beverages, personalised cocktails, live entertainment and musical serenades. The celebrations conclude with an intimate sip-and-paint session under the night sky.
Couples may also unwind with the Grand Valentine’s Ritual at Spa Cenvaree, a 105-minute treatment comprising a massage and body wrap designed for shared relaxation. Guests can further personalise the occasion by arranging fresh floral bouquets through the front office.
Centara Mirage Lagoon Maldives
At Centara Mirage Lagoon Maldives, Valentine’s Day is presented through a full-day programme of shared experiences set in North Malé Atoll. Activities include sunrise yoga, a tree-planting ceremony and henna art, offering couples a blend of relaxation and meaningful engagement.
The evening programme centres on a mixology masterclass, followed by a candlelit dinner at Sailhouse Beach featuring seafood, Asian-inspired dishes, desserts and free-flowing beverages. The night concludes with an outdoor movie screening beneath the stars.
Spa Cenvaree complements the celebrations with a Valentine’s Indulgence ritual, a 120-minute couples’ treatment that includes a body scrub, massage and bath ritual paired with sparkling beverages. Floral arrangements may also be arranged through the front office.
Machchafushi Island Resort & Spa Maldives
From 10 to 14 February, Machchafushi Island Resort & Spa Maldives will host a series of Valentine’s experiences designed to reflect personal moments and shared celebration. Highlights include vow renewal ceremonies at Reef Beach and private canapé and champagne experiences at Aqua Bar.
On Valentine’s Day, couples may begin with a floating breakfast served in-villa, followed by a choice of dining experiences ranging from international buffet dining to a four-course gourmet dinner at the Love Hut, complete with sparkling beverages and floral arrangements. Additional options include a three-course beachfront dinner at Reef Beach, a relaxed BBQ and movie night at North Beach, and an evening DJ programme at Coral Lounge.
Centara Ras Fushi Resort & Spa Maldives
Centara Ras Fushi Resort & Spa Maldives, an adults-only resort in North Malé Atoll, will host a refined Valentine’s celebration on the evening of 14 February. The highlight is a seven-course beachfront dinner at Waves Beach, paired with sparkling beverages and accompanied by live music.
The evening continues with an after-dinner beach gathering, extending the celebrations in a relaxed setting. Guests may also opt for a package that includes an in-villa breakfast with sparkling beverages the following morning.
Across its Maldivian portfolio, Centara Hotels & Resorts presents Valentine’s Day as an opportunity for couples to celebrate through shared experiences, thoughtful dining and time spent together in distinctive island settings.
Milaidhoo Maldives is hosting a four-day creative residency this March that brings together art, wine and storytelling in a series of intimate island experiences guided by internationally recognised curator Vera Alkhova.
From 25 to 28 March 2026, the resort will present the Art Spirit Residency, welcoming Alkhova, founder of Art Spirit, to its private island setting in the heart of the Baa Atoll, a UNESCO Biosphere Reserve. The residency is designed as a relaxed exploration of creativity, taste and inspiration, set against Milaidhoo’s natural surroundings.
An art consultant, curator and educator, Alkhova is known for making contemporary art accessible through storytelling rather than theory. Through Art Spirit, she curates immersive experiences that encourage dialogue and personal interpretation, including her established programme How to Read Contemporary Art. Her residency at Milaidhoo is structured around conversation-led sessions rather than formal lectures, with the aim of sharing art in an engaging and approachable way.
Taking place during the same month as International Women’s Day, the residency also reflects on the creative contributions of women. This theme is most clearly expressed in the opening experience, Women in Art, which highlights female voices and influence within contemporary artistic expression.
The programme also aligns with Milaidhoo’s focus on gastronomy and fine wine. Each experience is paired with carefully selected wines and hosted within the resort’s restaurants, where the evening themes are reflected in ingredient-led menus. The format is intentionally informal, in keeping with the atmosphere of the boutique island resort.
Programme highlights include:
- Wednesday, 25 March – Art Stories & Wine Tasting | Women in Art
- Friday, 27 March – An Artist’s Table | Wine and Art Dinner | Love of the Painter and His Muses
- Saturday, 28 March – Art Stories & Wine Tasting | Marine Life
With Alkhova’s curated insights and Milaidhoo’s considered hospitality, the Art Spirit Residency brings together art, wine and shared conversation in a setting designed to encourage reflection and connection.
Milaidhoo Maldives is accessible via a 35-minute seaplane transfer from Velana International Airport, or by a 15-minute domestic flight to Dharavandhoo Airport in Baa Atoll followed by a 15-minute speedboat journey to the island.
Glynn Purnell, the Michelin-starred chef, restaurateur and television personality known as “The Yummy Brummie”, will bring his modern British cooking to the Indian Ocean this April as part of the Tastemaker Series at St. Regis Maldives Vommuli Resort.
With a career spanning more than 35 years, two Michelin-starred restaurants and a long-standing presence on British television, Purnell’s residency will take place from 3 to 6 April. His ingredient-led approach will be presented through a curated programme that includes a signature tasting dinner, an intimate cooking class and a closing experience hosted at The Whale Bar, offering guests the opportunity to engage with his cuisine in an informal setting.
Purnell began his culinary career at the age of 14 through a hotel kitchen work placement before refining his skills at the Metropole Hotel and at Simpson’s Restaurant, where he contributed to the restaurant’s first Michelin star. His professional training also includes working alongside chefs such as Gordon Ramsay, Gary Rhodes and Claude Bosi, as well as experience in Michelin-starred kitchens across Europe. Purnell later made history by earning Birmingham’s first Michelin star for Jessica’s in 2005, followed by a Michelin star for Purnell’s, which the restaurant has retained since 2009.
In addition to his restaurant work, Purnell is a well-known figure on British television. He has won Great British Menu twice and has returned to the programme as a mentor. His television appearances also include Saturday Kitchen, and he co-presented My Kitchen Rules UK alongside Rachel Allen on Channel 4.
Recognised for combining technical precision with an approachable style, Purnell’s residency forms part of the St. Regis Maldives’ 2026 Tastemaker Series, a programme designed to showcase international culinary talent through immersive guest experiences. His emphasis on seasonal, responsibly sourced ingredients and sustainable practices aligns with the resort’s broader commitment to considered luxury and culinary quality.
Set on Vommuli Island, the residency offers guests the opportunity to experience contemporary British gastronomy in a distinctive island setting, with rare access to one of the UK’s most influential chefs.
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