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

Published

9 years ago

May 2, 2017

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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The Nautilus Maldives unveils ‘An Easter Canvas’ of colour and creativity

Published

5 hours ago

December 2, 2025

m@ldives

This Easter, The Nautilus Maldives is inviting guests to step into “An Easter Canvas”, a celebration where colour, creativity, and island freedom come together in a week of joyful expression. At this ultra-luxury bohemian hideaway, Easter unfolds like a living artwork, with days washed in colour, moments shaped by imagination, and time flowing as gently as the tides.

At the centre of An Easter Canvas is a collection of immersive artistic experiences inspired by the island’s radiant spectrum of colours. From family art sessions hosted by a visiting Maldivian artist to a collaborative beach canvas that evolves with each guest’s contribution, the Easter programme becomes a tapestry of renewal and joy—crafted by the hands and hearts of those who take part.

Solasta Spa embraces Easter with a curated palette of healing and renewal.

Radiant Awakening draws from sunshine hues with a rejuvenating body polish and signature massage.
Harmony Within reflects tranquil greens through aloe-based treatments, crystal sound healing, and grounding techniques.
Ocean Stillness mirrors the calm blues of the sea, beginning with a salt exfoliation followed by a meditative Shirodhara ritual.
Tender Renewal and Soulful Reflection explore soft pink and violet tones through rose quartz, aromatherapy, and gentle facial therapies.

Each ritual offers a sensory immersion designed to awaken, soothe, and restore—one colour at a time.

Dining at The Nautilus is treated as an art form. As the island shifts through its Easter-inspired palette, culinary experiences transform with it—from colour-changing cocktails at Naiboli’s Shades of the Horizon sunset pop-up to vibrant beach dinners and lively Easter brunches at Thyme. Without menus or fixed hours, each meal becomes a spontaneous creation shaped by guest preferences and the island’s creative spirit.

This Easter season will also feature a special appearance by Chef Gregor Zimmermann, Swiss State Chef and Executive Chef of the iconic Bellevue Palace in Bern. A distinguished member of Le Club des Chefs des Chefs, he will present two exclusive five-course dinners and a chocolate masterclass. His creations will form a dialogue between the refined flavours of the Swiss Alps and the treasures of the Maldivian seas, expressed through authenticity, emotion, and technical mastery.

Easter at The Nautilus promises a world of discovery for younger guests. Activities include the lively “Bunny Kickoff” party, ocean-inspired crafts, pastel tie-dye sessions, treasure hunts, and the island’s signature event—the “Every Bunny Wins Easter Egg Hunt”.

Children may also explore purposeful creativity through ecoBirdy Ocean Lab workshops, which introduce young minds to the beauty and fragility of marine environments. Each session guides children in transforming recycled plastics into small functional artworks. Through storytelling and hands-on making, young guests learn about sustainability while creating keepsakes inspired by the ocean around them.

At The Nautilus, Easter is more than a seasonal holiday—it is a celebration of renewal, artistry, and the simple joy of creation. Whether crafting upcycled treasures during ecoBirdy workshops, contributing to the island’s living art installation, enjoying spontaneous feasts shaped by personal tastes, or sharing sunlit moments on white sands, every guest becomes part of a story painted in freedom, colour, and flow.

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Sweet traditions: Canareef Resort hosts festive cake mixing ceremony

Published

6 hours ago

December 2, 2025

m@ldives

On the morning of 26 November, as the Maldives embraced the gentle warmth of the festive season, Canareef Resort Maldives once again lit up the island with its much-loved Christmas tradition – the annual Cake Mixing Ceremony. Held at the lively Dhoaraa Bar at 10:30am, the event brought together guests, team members, and island friends in a joyous celebration of tradition, community, and holiday spirit.

This year’s ceremony unfolded as a vibrant gathering filled with cheerful faces, aromatic spices, and rich festive ingredients. Guests from across the world joined in, eagerly blending dried fruits and a touch of local warmth into a fragrant mixture. As the rhythm of stirring released notes of cinnamon, nutmeg, and rum into the air, participants bonded over this cherished ritual, symbolising unity, generosity, and the joy of the season. The ocean breeze mingling with the sweet aroma created an atmosphere that beautifully captured the magic of island festivities.

More than a seasonal event, the Cake Mixing Ceremony at Canareef is a celebration of togetherness. It is an opportunity to create lasting memories, forge new friendships, and embrace the true essence of the holidays. Guests and the resort’s team take delight in the simple act of stirring the mixture side by side, adding a special sparkle to Canareef’s festive calendar.

Long recognised as a hallmark of holiday cheer, the ceremony reflects Canareef Resort Maldives’ warm, welcoming, and family-like spirit. For those seeking a tropical escape or a memorable festive experience, the resort continues to offer a sanctuary where traditions are honoured and celebrations become unforgettable.

This festive season, Canareef invites guests to join in for a celebration brimming with flavour, joy, and island magic—an opportunity to discover why the Maldives remains a truly special place to celebrate and to create holiday memories that will last a lifetime.

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‘Threading Time’: Stitched photo stories debut at Oaga Art Resort

Published

1 day ago

December 1, 2025

m@ldives

Oaga Art Resort, a homegrown Maldivian brand where creativity thrives and stories unfold, has announced Threading Time, a captivating solo exhibition by Maldivian artist Hajja Nazwa. The exhibition will open on 5 December 2025 at Moo Gé Gallery by Suvāsthi, the art brand of Oaga Resorts, and will run until 6 January 2026, giving guests the chance to experience Hajja’s stitched photographic narratives throughout the festive season.

Threading Time explores memory, everyday life, and the subtle beauty of island living. Through a fusion of photography and embroidery, Hajja Nazwa transforms ordinary moments into enduring visual stories. Each stitched detail reflects scenes of Maldivian daily life—street corners, bursts of colour, the quiet rhythm of the city, and the serenity of the islands.

Reflecting on her work, Hajja said: “Photo embroidery gives me a gentle place to return to… a space where I can slow down, look closely, and connect with myself. The act of stitching feels like a conversation between my hands and my memories. It reminds me to notice the small things, to honour them, and to hold on to the parts of life that quietly shape me.”

The exhibition features 55 works from Hajja’s stitched-story collection, many based on her own photographs celebrating Maldivian culture, heritage, and everyday moments. The pieces encourage viewers to engage with the interplay of thread, colour, and light, creating a space where art, memory, and island life intersect.

The exhibition is curated by Ahmed Sobah, whose long-standing involvement in the Maldivian arts scene ensures a presentation that highlights the vibrancy, intimacy, and contemplative depth of Hajja’s work.

The exhibition will open with a ticketed event on 5 December, offering guests:

A guided tour with the artist
A curated dinner at Kaa Kada, Oaga’s signature restaurant
Evening entertainment at Raa Baa bar

Date & Time: 5 December 2025, 16:00 – 22:30
Ticket Price: MVR 1,542 (USD 100)
Includes: Roundtrip speedboat transfer from Malé International Airport, exhibition access with guided tour, dinner, and entertainment.

From 6 December 2025 to 6 January 2026, the exhibition will be open to all resort guests, allowing visitors to explore Hajja’s work at their own pace in an intimate island gallery setting.

Moo Gé is the transformative creative space of Oaga Art Resort—a hybrid venue that functions as a movement studio, performance arena, and exhibition platform. Its fluid design allows it to adapt to the needs of artists and audiences alike. For Threading Time, Moo Gé becomes a dedicated gallery, enabling guests to experience Hajja Nazwa’s embroidered photographic works up close.

As part of Suvāsthi, Oaga’s artistic ecosystem centred on joy and creative expression, Moo Gé reflects the resort’s commitment to nurturing local and visiting talent. It is a place where culture, creativity, and island spirit come together, offering an experience rooted not only in observation but also in participation.

Oaga Art Resort continues to champion Maldivian artistry, giving guests the rare opportunity to engage with local talent in meaningful ways. Threading Time is more than an exhibition— it is an ongoing dialogue between artist, audience, and island life, where each thread and photograph tells a story of home, memory, and culture.