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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
Featured
Save big on paradise: Sun Siyam Resorts’ limited-time Black Friday offers

Sun Siyam Resorts has announced the launch of its highly anticipated annual Black Friday and Cyber Monday sale, offering exclusive rates across its properties in the Maldives. The promotion is valid for bookings made between 1 November and 1 December 2025.
This limited-time opportunity allows travellers to experience the Maldives at special discounted rates, with unique offers tailored to each resort in the group.
Guests can enjoy up to 45% off on Siyam World’s 24-hour WOW! All-Inclusive package. The offer includes a complimentary floating breakfast and villa upgrade, subject to availability, alongside the resort’s wide range of experiences and activities.
At Sun Siyam Iru Veli, guests can enjoy free or half-price seaplane transfers, floating breakfasts, two-for-one spa treatments, and signature excursions such as dolphin cruises and snorkelling tours. Families benefit further, with children under 12 staying and dining free of charge.
Travellers can save up to 30% on all villas and receive a complimentary seaplane transfer for one guest on stays of four nights or more at Sun Siyam Iru Fushi. Additional perks include complimentary water sports for children, spa upgrades, and early check-in or late check-out subject to availability. Children under 16 stay and dine free.
Sun Siyam Vilu Reef offers complimentary seaplane transfers, a 60-minute couple’s spa treatment, and floating breakfasts. Children under 12 stay free, with further benefits including dinner dine-around options, early check-in, and special honeymoon amenities.
Guests can enjoy up to 50% off round-trip speedboat transfers, or free transfers for stays of five nights or more in pool villas at Sun Siyam Olhuveli. The offer also includes a floating breakfast, 25% off spa treatments, 30% off à la carte dining, and additional discounts on water sports and diving.
Travellers are encouraged to secure their island getaway before 1 December 2025, as these offers are available for a limited period only.
Celebration
Experience Diwali in paradise with Villa Nautica’s beachside celebrations

Villa Nautica is set to celebrate Diwali with a vibrant programme that combines colour, craft and coastal charm in a private island setting. The resort’s schedule of experiences invites guests to take part in festive activities throughout their stay, blending traditional customs with a contemporary beachside flair. Highlights include poolside rangoli, children’s craft sessions, henna artistry, a shoreline feast, and lively Bollywood-inspired entertainment after sunset. All activities are designed to be drop-in, allowing families and couples to enjoy the festivities at their own pace.
Conveniently located just 20 minutes from Velana International Airport by direct speedboat transfer, Villa Nautica offers an easy arrival experience suited to both short getaways and longer holidays.
Food plays an integral role in the celebrations, with a festive spread inspired by regional Indian flavours. Guests can expect approachable options for all ages alongside opportunities to sample new dishes, served in a relaxed, oceanfront atmosphere.
Families are well catered for, with spacious accommodation choices such as the Two Bedroom Beach Villa with Two Pools and the Two Bedroom Ocean Suite with Pool, both offering proximity to the lagoon and ample space for relaxation. Younger guests can take part in creative sessions at the Wavy Navy Kids Club, including guided card-making and lantern-crafting workshops.
As evening falls, the island transforms with glowing lanterns, live beach entertainment, and a finale featuring popular Bollywood hits — creating a warm and welcoming way to mark the Festival of Lights in the Maldives.
Guests can also take advantage of Villa Resorts’ Winter Offer, which provides 20 percent off stays, combining festive celebration with seasonal value for couples, families, and friends planning a Diwali escape.
Celebration
Festive cheer meets island bliss at Kuramathi Maldives

Kuramathi Maldives is set to welcome guests into the spirit of the festive season with a thoughtfully curated programme of celebrations designed to delight families and travellers of all ages. Blending vibrant activities with the island’s natural beauty, the 2025 festive calendar promises a series of memorable moments for all.
The festivities begin on 21 December with the traditional Christmas tree lighting ceremony at the island’s sandbank. Guests can enjoy tropical cocktails, canapés, and live festive music by the resident band. In the days leading up to Christmas, guests will have the opportunity to take part in cultural excursions, such as local island tours, or join engaging culinary sessions including Thai cooking and sushi-making demonstrations. Family-friendly fun continues with treasure hunts, sand sculpting competitions, and live evening entertainment across the island’s bars.
For younger guests, the Bageecha Kids Club will host a daily festive programme from 21 December to 1 January 2026. Activities include cookie and ornament decorating, gingerbread house building, jewellery-making workshops, and coconut painting. Children can also join fitness and water games, including yoga, Zumba, beach Olympics, and Splash Pad fun. Highlights of the children’s schedule include writing letters to Santa, a family treasure hunt, and carol karaoke.
Kuramathi’s Christmas celebrations commence on Christmas Eve with a cocktail party on the sandbank, featuring champagne toasts, festive cocktails, Christmas carols, and a special appearance by Santa Claus and his elves. The evening concludes with a lavish Christmas Eve gala buffet at select restaurants.
Christmas Day begins with a festive talent show at the Sand Bar and the anticipated arrival of Santa Claus at the Dhoni Bar deck, where children will enjoy gift-giving, photos, and games. The day continues with activities such as beach volleyball, while the evening features live music and entertainment across the resort. Meanwhile, the Bageecha Kids Club will keep young guests engaged with eco-workshops, Christmas movies, and a mini festive market.
Kuramathi Maldives will bid farewell to 2025 and welcome 2026 with a night of celebration and glamour. The New Year’s Eve festivities begin with a cocktail reception on the sandbank, followed by a spectacular gala buffet dinner. As the night unfolds, guests can dance to live music and enjoy a lively countdown to midnight under the stars.
On New Year’s Day, celebrations continue with a festive brunch served at the island’s restaurants, along with the “First Dive of the Year” for those eager to explore the house reef. The day concludes with live music and an energising aerobics session. At the Bageecha Kids Club, children will close the season with activities such as creating a memory book, exploring the island’s hydroponic garden, and performing the festive closing song — ending the holiday with cherished memories and joy.
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