Featured

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

Up Next

Sun Siyam Iru Fushi named Maldives Best Spa Hotel, receives international five-star accolade

Don't Miss

Maldives begins levying USD25 airport development charge on foreign travellers

Click to comment

Awards

Atmosphere Core earns triple honours at Layalina Editor’s Choice Awards

Published

3 days ago

February 4, 2026

m@ldives

Atmosphere Core concluded 2025 with a strong industry showing, securing three major honours at the Layalina Editor’s Choice Awards 2025 for RAAYA by Atmosphere, Atmosphere Kanifushi Maldives and OBLU XPERIENCE Ailafushi. The accolades underscore the group’s ability to deliver clearly differentiated resort concepts for diverse traveller profiles, while maintaining a consistent emphasis on quality, comfort and guest satisfaction across its portfolio.

At the awards, RAAYA by Atmosphere was named Best New Luxury Resort of the Year – Maldives. Atmosphere Kanifushi Maldives received the title of Best All-Inclusive Luxury Resort, while OBLU XPERIENCE Ailafushi was recognised as Most Stylish Resort – Maldives. The honours are based on Layalina’s independent editorial assessment and established quality benchmarks, celebrating excellence across luxury hospitality, all-inclusive offerings and lifestyle-led design. Layalina is a leading Arab lifestyle publication under 7awi Media Group, with a strong readership and influence across the GCC and wider region.

Collectively, the awards highlight Atmosphere Core’s understanding of evolving travel expectations, delivering experiences that are thoughtful, well-crafted and easy to enjoy, whether guests are seeking tranquillity, variety or social energy.

Each of the recognised resorts brings a distinct identity to the group’s Maldivian portfolio. RAAYA by Atmosphere, located in the Raa Atoll, is defined by its serene environment and castaway-artist concept, encouraging guests to slow down and reconnect through nature, creativity and adventure. Atmosphere Kanifushi continues to stand out for its scale and consistency, offering a generous all-inclusive experience through the Kanifushi Plan™, expansive villas and a long, natural island setting that appeals to both families and couples. In contrast, OBLU XPERIENCE Ailafushi delivers a more dynamic island escape, characterised by contemporary design and a lively social atmosphere that resonates with travellers drawn to shared spaces, movement and modern aesthetics. Together, the accolades reflect a carefully curated portfolio designed to cater to a wide spectrum of travel moods and preferences.

Commenting on the achievement, Ashwin Handa, Chief Operating Officer of Atmosphere Core, said the group was honoured to receive the Layalina Editor’s Choice Awards 2025, recognising the three resorts across distinct categories. He noted that the recognition reflects the company’s carefully curated experiences, shaped by a strong sense of product, space and genuine care, and credited the passion and commitment of the teams, as well as the continued trust of guests, for the achievement.

Central to these successes is Atmosphere Core’s philosophy of the Joy of Giving, which positions hospitality around care, generosity and attention to detail. This approach informs destinations that feel closely connected to their natural surroundings and supports bespoke experiences that anticipate guest needs. The result, the group says, is a style of hospitality that is welcoming, effortless and personal, creating meaningful moments that endure beyond the stay itself.

Featured

The Standard, Maldives brings Lunar New Year energy to Raa Atoll

Published

3 days ago

February 4, 2026

m@ldives

The Standard, Maldives will mark the Lunar New Year this February with a week-long celebration that invites guests to swap urban festivities for the turquoise waters of the Raa Atoll. Taking place from 17 to 22 February, the programme will transform the island resort into a festive setting that blends time-honoured traditions with the brand’s playful and contemporary character.

Designed to move beyond a conventional island escape, the celebrations will open with lively visual touches, including jumping stilts and fortune cookies, setting the tone for a week where Maldivian tranquillity meets the spirit of East Asian culture. Throughout the programme, guests will be immersed in a series of experiences that combine culinary creativity, entertainment and cultural expression.

Food takes centre stage in the Lunar New Year offering, with a diverse line-up of dining events curated to engage all the senses. Highlights include an Asian Street Food buffet inspired by classic Chinese motifs, alongside more refined beachfront experiences such as five-course Crab Night and Lobster Night dinners at Kula Beach. Interactive elements are also woven into the programme, with Tangyuan Time at Joos Café inviting families to prepare traditional sweet glutinous rice balls together, while younger guests can participate in a dedicated mocktail-making masterclass.

Evenings at the resort will be defined by high-energy entertainment and cultural performances. Todis Beach will host LED and fire shows, complemented by special Chinese dance performances that illuminate the shoreline after dark. Adding a local dimension to the celebrations, Maldivian Boduberu drumming will feature prominently, creating a rhythmic fusion of regional and international traditions. For guests seeking a more relaxed pace, the programme also includes a Lunar New Year Movie Night at the main pool and a Bingo Night at Todis Bar.

Commenting on the celebrations, Sonika Adlakha, Commercial Director of The Standard, Maldives, said the aim was to create a Lunar New Year experience that feels both authentic and adventurous. She noted that by combining the dynamic energy of street food markets and fire shows with the calm luxury of a Maldivian retreat, the resort is offering guests a distinctive way to welcome the Year of the Horse.

To complement the festivities, the resort is offering a Premium All-Inclusive Package, designed to provide seamless access to the week’s dining and entertainment programme. The package includes the full range of culinary experiences, from Asian Street Food stalls to themed buffets at Kula, as well as a selection of premium spirits, cocktails and refreshments. This offering allows guests to fully immerse themselves in the celebrations while enjoying the freedom to experience the Lunar New Year at The Standard, Maldives without limits.

Featured

Four Seasons Maldives brings Fire Horse energy to Lunar New Year celebrations

Published

3 days ago

February 4, 2026

m@ldives

Four Seasons Resorts Maldives will welcome the Year of the Fire Horse with a week of Lunar New Year celebrations across Landaa Giraavaru and Kuda Huraa. Taking place from 16 to 24 February 2026, the programme will see both islands animated by the vibrant energy associated with this rare zodiac year.

Bold and spirited, the Fire Horse symbolises momentum, confidence and fresh beginnings. The celebrations are designed to reflect these qualities through a blend of cultural tradition, island elegance and family-focused experiences, positioning the Maldives as a fitting setting for the festive season.

Marking a first for the Maldives, the resorts will host an exclusive pop-up by Beijing’s Michelin-recognised Baiweiyuan Dumpling Restaurant, operating concurrently at both islands. Long celebrated in Beijing for its handmade dumplings and comforting soups, Baiweiyuan will present a menu featuring signature pork and chive dumplings, beef and onion fillings, and vegetarian options such as egg and tomato. Cold starters, including soy-braised pork trotter, will complement the experience.

Prepared fresh to order, the dumplings introduce an authentic taste of Beijing to the Indian Ocean, offering a culinary highlight that reflects the warmth and generosity associated with the Fire Horse.

Lunar New Year at Kuda Huraa

16–24 February 2026

At Kuda Huraa, Lunar New Year celebrations will unfold throughout the week in a lively, festival-style programme. Events begin with a Reunion Dinner at Café Huraa, followed by themed dining evenings, outdoor cinema screenings, a Pool Party and a Pop-Up Asian Market.

Evenings will include experiences such as a Secret Beach BBQ under the stars, a Mediterranean Market at Reef Club and an Asian Buffet at Café Huraa. Baiweiyuan’s dumpling pop-up will be available daily, allowing guests to enjoy the flavours of Beijing throughout the celebrations.

Kuda Huraa highlights include:

Reunion Dinner on 16 February
Family Feast Lunch, Seafood Night and Asian Buffet
Secret Beach BBQ and Mediterranean Market
Pool Party with DJ on 18 February
Pop-Up Asian Market and outdoor movie nights
Daily Baiweiyuan Dumpling pop-up

The Kuda Mas Kids Club will also host a two-week Fire Horse–inspired festival for younger guests, featuring activities such as lantern painting, snorkelling adventures, arts and crafts, dumpling making, tie-dye workshops, karaoke evenings and beach games. The programme is designed to encourage creativity, confidence and fun.

Lunar New Year at Landaa Giraavaru

16 February 2026

Landaa Giraavaru will welcome the New Year with a poolside celebration from 7.00pm to 10.30pm, featuring a Dragon Dance, live DJ and lantern-lit setting around the main pool. A Yu Sheng prosperity toss will symbolise abundance and good fortune, while live cooking stations will showcase celebratory flavours prepared by the resort’s culinary team.

Landaa Giraavaru highlights include:

Poolside Lunar New Year celebration
Dragon Dance performance
Live DJ and festive ambience
Yu Sheng prosperity toss
Culture-inspired welcome drinks
Baiweiyuan Dumpling pop-up available throughout the week

Across both islands, Lunar New Year at Four Seasons Resorts Maldives is designed to bring families and friends together in the spirit of prosperity, connection and shared celebration. Guests are invited to welcome the Year of the Fire Horse through traditions that honour luck, abundance and meaningful togetherness.