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

Published

8 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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Featured

Elevated wellness: Aerial Yoga launches at Sun Siyam Olhuveli Maldives

Published

40 mins ago

June 22, 2025

m@ldives

In celebration of International Yoga Day and the 2025 theme, ‘One Earth, One Health,’ Sun Siyam Olhuveli Maldives expanded its wellness offerings with the introduction of Aerial Yoga. Launched on 21 June 2025, this new activity is now available at the resort’s open-air Blue Fit Platform.

The launch event brought together resort guests, wellness enthusiasts, and team members in a shared experience that emphasised the connection between movement, mindfulness, and nature. Aerial Yoga allows participants to perform yoga while suspended in high-density tricot fabric hammocks, offering support through a combination of balance, breath, and flow.

Designed to provide more than just physical lightness and support, Aerial Yoga helps decompress the spine, improve circulation, and build core strength—all while overlooking the serene waters of the Indian Ocean. Sessions are offered as private or group classes, conducted by certified instructors and tailored to suit both beginners and experienced practitioners.

Hassan Adil, General Manager at Sun Siyam Olhuveli, described the initiative as a meaningful addition to the resort’s wellness programs. He noted that the introduction of Aerial Yoga goes beyond being a new class, representing a celebration of holistic living in harmony with nature. Adil emphasised the aim of fostering deeper connections between the body and the earth, offering guests the chance to explore inner wellness from a unique vantage point—suspended, supported, and surrounded by the tranquility of the Indian Ocean.

Sun Siyam Olhuveli remains committed to holistic living, continuously enhancing its wellness experiences to align with global health awareness. By creating spaces where guests can recharge, move freely, and reconnect with themselves, the resort encourages natural, mindful living.

Featured

Summer escape starts here: discover Centara’s dream destinations in Maldives

Published

6 days ago

June 16, 2025

m@ldives

The warmer season has officially arrived in the GCC, and for those still planning a summer getaway, Centara Hotels & Resorts’ Maldivian destinations offer the perfect escape. With something to delight every traveller, guests can book a stay at Centara Grand Lagoon Maldives or Centara Mirage Lagoon Maldives, both located within The Atollia by Centara Hotels & Resorts, where endless adventure awaits. For an adults-only retreat, Centara Ras Fushi Resort & Spa Maldives provides a serene paradise, while Machchafushi Island Resort & Spa Maldives, The Centara Collection, invites travellers to explore a world of underwater wonders and rejuvenating wellness experiences.

The Atollia by Centara Hotels & Resorts

Surrounded by a shimmering lagoon, The Atollia by Centara Hotels & Resorts is a multi-island, world-class destination that hosts two distinct resorts. Centara Mirage Lagoon Maldives is a popular choice for families, featuring a lazy river, water playground, a vibrant kids’ club, and a selection of oceanfront or overwater villas along with diverse dining options. In contrast, Centara Grand Lagoon Maldives offers an idyllic island escape with elegant overwater and beach villas and residences, exceptional culinary experiences, tranquil pools, and the acclaimed SPA Cenvaree Retreat.

Regardless of the chosen property, guests enjoy access to both resorts, ensuring a unique and flexible holiday experience. To further enhance their stay, visitors can select The Atollia Destination Full Board Plus package—ideal for sampling the island’s culinary offerings—or opt for the All-Inclusive package, which includes a daily replenished minibar.

Centara Grand Lagoon Maldives

Centara Grand Lagoon Maldives invites guests to secure their next escape with its Grand Island Indulgence: Exclusive Introductory Offer. Available for bookings made until 30th June 2025 for stays through 15th October 2025, guests can enjoy a relaxing four-night getaway while paying for only three nights, or extend their escape with the Stay 7, Pay 5 offer. Adding to the appeal, this exceptional promotion includes meal plan upgrades, complimentary sparkling wine and couples’ massages, exclusive access to The Club, a choice of an ocean excursion, and additional benefits for CentaraThe1 members, among other perks

Booking dates: From now until June 30^th

Stay dates: From now until October 15^th, 2025

Offer: Pay for 3 nights and stay for 4 OR pay for 5 and stay for 7

*For bookings and more information, please click here.

Centara Mirage Lagoon Maldives

Centara Mirage Lagoon Maldives invites families to enjoy an unforgettable summer escape with a special introductory offer. Guests can take advantage of exclusive rates, with up to two children aged 11 and under staying, playing, and dining for free. To ensure a smooth and stress-free holiday from arrival to departure, the offer also includes complimentary airport transfers and triple CentaraThe1 points for members.

Guests can settle into one of 145 stylish, beach-inspired rooms, each featuring a dining table and a private outdoor bathtub, jacuzzi, or pool. The resort offers endless excitement with thrilling activities, a vibrant kids’ club, a tropical lazy river, and rejuvenating treatments at the world-class SPA Cenvaree—along with playful mini treatments for children at the colorful Candy Spa. With fun and adventure for all ages, Centara Mirage Lagoon Maldives is the perfect place to escape the summer heat, Maldivian style.

Booking dates: From now until June 30^th

Stay dates: From now until October 31^st, 2025

*For bookings and more information, please click here.

Centara Ras Fushi Resort & Spa Maldives

Centara Ras Fushi Resort & Spa Maldives presents an exclusive adults-only retreat, where indulgence and tranquillity harmoniously come together. Guests can unwind in a private beachfront villa, enjoy a romantic candlelit dinner on the beach, or relax beside the shimmering lagoon under the summer sun. The resort also offers vibrant marine exploration through snorkelling, along with a variety of resort-wide activities, beach games, and water sports.

This summer, travellers are invited to refresh and rejuvenate with a distinctive escape to this private island paradise, where all villas are available at 30% off and CentaraThe1 Members receive an elevated discount of 45%. To begin the getaway in style, guests staying 2 to 4 nights can enjoy 50% off transfers, while those booking an Overwater Villa will be welcomed with a bottle of sparkling grape and a fruit basket.

Enhancing the experience even further, guests can delight in world-class cuisine with 20% off food and beverages throughout their stay, or indulge in a three-course poolside dinner, available for guests on Half Board plans and above. Additional perks include 10% off water sports and excursions, as well as complimentary access to snorkelling, pedalo, and kayaking activities—perfect for creating lasting memories. No visit is complete without a relaxing session at SPA Cenvaree, where guests can enjoy a buy-one-get-one offer on select treatments.

Booking dates: From now until January 10^th, 2026

Stay dates: From now until January 10^th, 2026

Offer:

45% off on all villas for CentaraThe1 Members
30% off for non-members
50% off on transfers with a minimum 2 nights to a maximum 4 nights
Sparkling grape & fruit basket upon arrival in Overwater villas
One 3-course poolside dinner under the stars for Half Board Plus and above
Buy one and get one on select spa treatments
Special evening turndown service with bed decoration on arrival night
20% discount on Food & Beverage from all outlets’ a la carte menu
10% discount on water sports and excursions
Complimentary use of Snorkelling gear, pedalo, and kayak

*For bookings and more information, please click here.

Machchafushi Island Resort & Spa Maldives, The Centara Collection

Situated in the South Ari Atoll, Machchafushi Island Resort & Spa Maldives, The Centara Collection, is more than just a destination—it is a living expression of the Maldivian way of life, where nature and culture exist in perfect harmony. With a strong commitment to environmental stewardship, the resort encourages guests to disconnect from the outside world and embrace a life in sync with their surroundings. Guests can choose from 112 elegantly designed beachfront and overwater villas, each offering sweeping views of the Indian Ocean and the nearby UNESCO-protected marine reserve.

During their stay, visitors are invited to explore vibrant coral reefs and marine life through activities such as snorkelling, semi-submarine tours, kayaking, and paddleboarding. A highlight of the reef is a shipwreck located just 30 metres from the harbour channel, teeming with glassfish, resting nurse sharks beneath the hull, and stonefish camouflaged along the deck. For those seeking a deeper connection, the resort also offers the Blessing Ritual—a reflective tradition held beneath a 200-year-old sacred tree, where guests can tie personal wishes to its branches in a symbolic act of clarity, intention, and connection.

Machchafushi Island Resort & Spa Maldives offers an extraordinary escape, with CentaraThe1 members enjoying 45% off flexible rates on meal plans, and non-members receiving 30% off, along with an additional 30% discount on seaplane transfers. From the moment of arrival—greeted by handmade chocolates and fresh tropical fruit in the villa—guests are immersed in the magic of island life. Days can be spent snorkelling vibrant reefs, paddling through turquoise waters, or exploring the lush landscapes, followed by relaxing spa treatments with a buy-one-get-one offer, or cocktails at 20% off across all à la carte dining venues.

Families can enjoy a complimentary picnic lunch, while couples are treated to a romantic three-course dinner under the stars. Additional enhancements include floating breakfasts served in private pools, beautifully decorated beds upon arrival, and generous savings on water sports. With complimentary stays and meals for children aged six and under, as well as free use of snorkelling gear, kayaks, and pedalos, this island sanctuary delivers the perfect setting for an unforgettable Maldivian escape.

Booking dates: From now until January 10^th, 2026

Stay dates: From now until January 10^th, 2026

Offer:

45% off Flexible Rates on Meal Plans for CentaraThe1 Members
30% off Flexible Rates on Meal Plans non-members
30% discount on seaplane transfers for all guests with a minimum stay of 2 to 6 nights
Homemade chocolates & fruit basket upon arrival in Overwater and Club Pool Villas
One free picnic lunch – for the whole family (Half Board Plus and above) or one 3-course private beach dinner under the stars for couples (Half Board Plus and above)
Buy one and get one on select spa treatments
Kids 6 years and below Stay & Eat for Free as per the meal plan booked by parents
20% special discount on indulging floating breakfast (Only in Club pool villas)
Special evening turn-down service with bed decoration on arrival night
20% discount on Food & Beverages in all outlets on the à la carte menu
10% discount on Water Sports and Excursions
Complimentary use of snorkelling gear, pedalo and Kayak

*For bookings and more information, please click here.

Drink

Sommeliers and hospitality leaders to gather at Ifuru Island for exclusive Liquid Tasting Event

Published

6 days ago

June 16, 2025

m@ldives

Ifuru Island Maldives has announced the upcoming Raa Atoll Liquid Tasting, an exclusive gathering of sommeliers, F&B professionals, and hospitality leaders scheduled for 26 June 2025. This distinguished event is being presented in collaboration with The Liquid Concept, a premium beverage platform celebrated for its concept-driven approach to wine and spirits curation across the Indian Ocean region.

Established in 2021, The Liquid Concept delivers a comprehensive 360-degree beverage experience. Its portfolio includes fine wines, artisanal spirits, grower and grand marque Champagnes, vermouths, low- and no-alcohol alternatives, and innovative beverage solutions designed for hospitality and lifestyle destinations. The platform’s mission is to transform the beverage experience through purposeful curation, sustainable innovation, and immersive storytelling.

Set against the breathtaking backdrop of Ifuru Island, the tasting event will feature over 40 exceptional wine labels sourced from around the world. These selections, drawn from The Liquid Concept’s intentionally curated portfolio, invite attendees on a sensory exploration of diverse terroirs, winemaking philosophies, and compelling narratives.

Enhancing the tasting experience, guests will be treated to a specially crafted three-course menu, thoughtfully designed to complement and elevate the wine pairings. This harmonious fusion of food and beverage aims to showcase the artistry of hospitality and refined palate engagement.

As part of a shared commitment to innovation and sustainability, Ifuru Island and The Liquid Concept will also introduce the Bermar Wine & Champagne Preservation System during the event. This advanced technology enables the preservation of opened wines and champagnes, offering resorts a smart, eco-conscious solution to minimise waste and improve wine-by-the-glass service.

The Raa Atoll Liquid Tasting is an invitation-only event, poised to become a signature occasion that reflects Ifuru Island’s dedication to elevating the culinary and beverage scene in the Maldives.