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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
This Valentine’s Day, love takes centre stage at Kuda Villingili, a premier romantic retreat in the Maldives. With its sun-drenched beaches, indulgent dining options, and rejuvenating spa experiences, Kuda Villingili provides couples with an idyllic setting to rekindle joy and celebrate their love stories.
Since its inception, Kuda Villingili Resort Maldives has been synonymous with romance. Its powdery white shores, crystal-clear waters, and expansive vistas offer a sanctuary where serenity and passion intertwine. The resort’s private villas are thoughtfully designed to enhance intimacy, featuring Beach Villas with private pools and views of both sunrise and sunset. Meanwhile, the Water Villas, perched over a vibrant blue lagoon, promise complete privacy and panoramic views of turquoise waters. Whether guests wake to the gentle hues of sunrise from ocean-facing beds or savor sunset’s fiery glow from their private pools, every moment in these villas is crafted to be a dream come true.
For Valentine’s Day 2025, Kuda Villingili invites couples to immerse themselves in romantic experiences as unique as the destination itself. Guests are encouraged to create joyful memories and redefine their love stories within this tropical paradise.
One of the highlights is the floating breakfast experience, offering an indulgent start to the day. Served in the privacy of villa pools, the breakfast includes gourmet selections paired with a bottle of Victoire Prestige Brut Rosé Champagne, setting the tone for a luxurious day.
In the evening, the ‘Crimson and Aqua’ dining experience by the largest pool in the Maldives promises an unforgettable culinary journey. Guests can savour Cantonese-style lobster, dumplings, and an array of desserts amidst tranquil waters and a lush tropical garden. Handcrafted cocktails, sparkling wine, or a bottle of red or white wine ensure every detail is perfect for the occasion.
For a more intimate setting, Mar-Umi Beach offers Peruvian-Japanese fusion cuisine in a curated menu designed for couples seeking both culinary adventure and romance. The dining experience is elevated with a bottle of sake or the finest sparkling wine, accompanied by the soothing sounds of the ocean.
Alternatively, couples can indulge in the ‘Sands of Love’ buffet at The Restaurant, featuring tropical delicacies and live cooking stations. Set beneath swaying palms and a starlit sky, this culinary offering blends exquisite flavours with an enchanting ambiance.
For those seeking relaxation, The Spa provides a Valentine’s package designed for connection and indulgence. This 2.5-hour coconut-inspired journey includes full-body massages, scrubs, and a floral bath, offering rejuvenation for the body and soul.
Throughout the day, guests can toast to love with specialty cocktails and mocktails at The Bar, crafted to capture the joy of connection. In the evening, The Bar transforms into a cozy venue for screenings of classic romantic movies, complemented by snacks and an intimate atmosphere.
To further celebrate love, Kuda Villingili offers complimentary activities such as partner yoga, couples’ painting sessions, heart-opening yoga flows, and outdoor games. Each experience is curated to foster connection and create enduring memories.
Kuda Villingili embodies the essence of romance through its pristine beaches, lush landscapes, and turquoise waters. From private destination dining to stargazing under Maldivian skies, every moment is tailored to inspire intimacy and celebrate the extraordinary.
This Valentine’s Day, Kuda Villingili invites couples to rediscover romance in a haven where love is celebrated, cherished, and immortalised.
The Maldives is a destination where summer feels eternal, offering turquoise waters, pristine white sands, and serene tranquility. Through the ‘Endless Summer’ campaign by Marriott Bonvoy, travellers are invited to escape the winter cold or bask in perpetual sunshine with a limited-time offer. Guests can choose from a selection of luxurious resorts in the Maldives and enjoy benefits such as a full-board dining plan, complimentary speedboat or seaplane transfers, or up to USD 250 in resort credit. Additional perks include non-motorised water sports like paddle-boarding, kayaking, windsurfing, and catamaran sailing, depending on the property. This exclusive offer, valid for a minimum stay of four nights, is available for bookings between January 20 and February 28, 2025, and includes Marriott Bonvoy points to unlock future travel opportunities.
The North Malé Atoll is a marine sanctuary renowned for its vibrant coral reefs and secluded luxury. Just a short speedboat ride from Velana International Airport, it hosts three Marriott Bonvoy resorts. These waters, rich with stingrays, nurse sharks, turtles, and dolphins, offer exceptional snorkelling and diving opportunities for adventurers of all levels. The Ritz-Carlton Maldives, Fari Islands, features 100 villas with ocean or lagoon views, infinity pools, and personalised butler service. Dining options span Cantonese, Japanese, Italian, and Middle Eastern cuisines, while the Ritz-Carlton Spa offers treatments inspired by Yin and Yang. Guests can also explore curated dining and art installations at Fari Marina Village and participate in the Defining Moment ceremony featuring Boduberu drumming.
The JW Marriott Kaafu Atoll Island Resort, located in the largest lagoon of Kaafu Atoll, offers 80 luxurious pool villas with ocean views. The resort combines contemporary design with personalised service and features seven dining venues, including Athiri and Nikkei, which serve steak and Japanese-Peruvian cuisine. The Spa by JW offers exclusive treatments by BABOR, while younger guests can enjoy activities at the Family by JW Kids’ Club and the teens’ zone.
Sheraton Maldives Full Moon Resort & Spa, set on a private natural island, provides 176 beachfront cottages and overwater villas that blend rustic charm with modern comforts. Surrounded by turquoise lagoons and lush palm groves, the resort offers family-friendly programs such as beach picnics, cooking classes, and nature walks. Its farm-to-table dining and coral restoration initiatives, alongside complimentary stays and meals for children under 12, make it a sustainable and family-oriented retreat.
North Ari Atoll, Dhaalu Atoll, and Baa Atoll showcase the Maldives’ extraordinary natural beauty. North Ari Atoll is famous for iconic dive sites and whale shark migration routes. W Maldives, reopening in March after a transformation, offers 77 overwater and beach villas with bio-boho designs. Guests can explore the house reef, enjoy unique dining experiences, and participate in private island excursions.
In Dhaalu Atoll, The St. Regis Maldives Vommuli Resort features 77 villas with private pools and panoramic views. The resort offers Ayurvedic treatments, the Maldives’ largest hydrotherapy pool, and signature experiences like the Champagne Sabering Ritual. Dining options include Japanese Kaiseki at T-Pan and a wine cellar boasting 650 labels.
Baa Atoll, a UNESCO Biosphere Reserve, is home to The Westin Maldives Miriandhoo Resort, which features 69 villas surrounded by lush foliage or perched above turquoise waters. The resort offers Japanese cuisine, pan-Asian flavours, and holistic wellness programs. Children under 12 stay and dine for free, making it a family-friendly haven.
In Lhaviyani Atoll, Le Méridien Maldives Resort & Spa combines mid-century modern design with eco-conscious features such as a large organic garden. Guests can enjoy culinary experiences, spacious villas, and abundant marine life around its thriving house reef.
The Shaviyani Atoll offers ultimate seclusion at JW Marriott Maldives Resort & Spa, with 60 villas and personalised butler service. Families can enjoy the extensive kids’ club and adventure activities, while food enthusiasts indulge in farm-to-table dining. Water-sports like jet skiing and parasailing cater to thrill-seekers.
As the sun sets over the Maldives, Marriott Bonvoy invites travellers to embrace the promise of an eternal summer in this idyllic paradise.
This Valentine’s Day, couples are invited to immerse themselves in the ultimate romantic escape at Dusit Thani Maldives. Surrounded by turquoise waters, pristine beaches, and unparalleled luxury, the resort provides an idyllic setting for celebrating love.
Situated in the heart of the UNESCO World Biosphere Reserve of Baa Atoll, Dusit Thani Maldives offers an unforgettable experience for those seeking to rekindle romance and create cherished memories.
The resort’s All-Inclusive Escape to Romance package has been specially designed to elevate Valentine’s Day celebrations. This exclusive offer includes:
- Luxurious accommodations in either beachfront or overwater villas.
- Delectable dining experiences with all-inclusive options.
- A private dining experience under the stars.
- Couples’ spa treatments at the award-winning Devarana Wellness, ensuring complete relaxation.
Valentine’s Day Highlights
On February 14th, a series of enchanting events will be hosted to mark the occasion:
- Romantic Beach Dinner: Guests can savour a gourmet meal paired with fine wines under a starlit sky, accompanied by the soothing sounds of the ocean.
- Couples’ Sunset Cruise: A magical experience on the water allows couples to admire the beauty of the Maldivian sunset.
- Devarana Wellness for Two: Signature spa treatments will provide an opportunity for relaxation and reconnection.
- Love-Inspired Cocktails: Handcrafted cocktails will be available at the resort’s bars for a special Valentine’s toast.
Dusit Thani Maldives is described as more than just a destination—it is a place where love blossoms. According to Jean-Louis Ripoche, Area General Manager, Maldives, “This Valentine’s Day, we are delighted to offer couples an opportunity to celebrate their love in one of the most romantic settings in the world.”
Couples are invited to celebrate the season of love at Dusit Thani Maldives, where the natural beauty of the Maldives serves as the perfect backdrop for a memorable Valentine’s Day.
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