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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
As the festive season draws near, Centara Hotels & Resorts Maldives invites guests to celebrate the holidays amid the beauty of the Indian Ocean. Each of its distinct island destinations blends the warmth of Maldivian hospitality with the timeless traditions of the season. From family-friendly adventures to serene adult escapes, guests can choose from four remarkable properties — Centara Grand Lagoon Maldives and Centara Mirage Lagoon Maldives within The Atollia by Centara Hotels & Resorts, and Centara Ras Fushi Resort & Spa Maldives and Machchafushi Island Resort & Spa Maldives, part of The Centara Collection.
Centara Grand Lagoon Maldives
Just a short speedboat ride from Malé International Airport, Centara Grand Lagoon Maldives offers a sanctuary of tranquillity and privacy. Located within The Atollia, the resort presents a wealth of world-class dining, exhilarating water sports and excursions, and holistic wellness experiences at the serene SPA Cenvaree Retreat. Elegant beachfront and overwater villas provide the perfect setting for a memorable festive escape.
This year, the resort introduces the theme ‘Crystal and Bubbles’, a celebration that captures the glamour and sparkle of the season. From 22 December to 7 January, guests can enjoy a calendar of curated activities and entertainment beneath glittering crystal-inspired décor.
Families can look forward to treasure hunts, cupcake decorating, and pyjama parties leading up to Santa’s grand arrival on Christmas Day, while couples can indulge in elegant gala dinners and wine tastings. Each day brings new delights — from Boduberu masterclasses and festive workshops to themed dinners and karaoke nights.
The celebrations culminate in a New Year’s Eve gala, featuring cocktails, live entertainment, and fireworks beneath the stars. The festivities continue into January with island cinema nights, sandcastle competitions, and Orthodox celebrations that showcase local culture and cuisine.
Centara Mirage Lagoon Maldives
Located within The Atollia, Centara Mirage Lagoon Maldives embodies the signature spirit of Centara’s Mirage brand — a lively, family-focused resort inspired by the wonders of the ocean. The property features diverse dining options, a kids’ club, and the renowned SPA Cenvaree, complemented by the playful Candy Spa for younger guests. A sprawling outdoor water complex — complete with a lazy river, splash zone, and multiple pools — forms the heart of the island’s entertainment.
Festivities begin on 3 November with a joyful cake-mixing ceremony and continue through 7 January with an Orthodox Day celebration. Guests can join daily activities such as sunrise yoga, beach fitness sessions, and family games, or unleash their creativity through crafts including tote bag painting and festive T-shirt design.
Evenings are filled with BBQs under the stars, themed buffets, live music, Boduberu drumming, and mixology contests. Young travellers can enjoy pyjama parties, gaming challenges, and movie nights at the E-Zone, while families come together to welcome the New Year at the Mirage Carnival Celebration, complete with cocktails, a grand buffet, and live performances.
Centara Ras Fushi Resort & Spa Maldives
For those seeking an adults-only escape, Centara Ras Fushi Resort & Spa Maldives offers a tranquil haven where indulgence meets serenity. Guests can unwind in beachfront or overwater villas, explore the lagoon’s marine life, and savour moments of connection during a thoughtfully curated festive programme running from 15 December to 6 January.
Days begin with sunrise yoga, meditation, and Pilates sessions, while creative workshops invite guests to make botanical scrubs, organic face masks, and coconut-leaf crafts. More energetic visitors can join Thai boxing classes, beach volleyball, and boot camps.
As the sun sets, the resort transforms into a scene of celebration, with tree-lighting ceremonies, carol singing, cocktail hours, and themed dinners. Culinary highlights include seafood barbecues, Kin Khao dinners, and traditional Maldivian feasts. The New Year’s Eve Gala Dinner, inspired by an underwater theme, promises an evening of fine dining, live music, and dancing beneath the stars, followed by a warm Orthodox Day gathering to close the season.
Machchafushi Island Resort & Spa Maldives, The Centara Collection
Situated in South Ari Atoll, Machchafushi Island Resort & Spa Maldives, part of The Centara Collection, captures the essence of Maldivian island life — where nature, culture, and the ocean intertwine. Offering 112 beachfront and overwater villas overlooking a UNESCO-protected marine reserve, the resort provides an idyllic setting for meaningful festive celebrations.
Running from 7 November to 6 January, the programme begins with a cake-mixing ceremony and tree-lighting event, followed by Santa’s jet-ski arrival to delight guests of all ages. Children can take part in creative workshops, pizza-making, and scavenger hunts at Camp Safari, while adults enjoy beachside yoga, meditation, and wellness sessions.
Families can join sandcastle competitions, outdoor movie nights, and karaoke sessions, or explore local heritage through storytelling and cultural activities. As evening falls, the island comes alive with Fire & Ice pool parties, wine-pairing sessions, seafood feasts, and live DJ nights. On Christmas Eve, guests are treated to a festive buffet at Reef or a fine dining experience at Mare Azzurro, leading up to a New Year’s Eve island celebration of music and dance. The season concludes with a relaxed beach gathering on 6 January, featuring traditional dishes and festive cocktails.
Centara Hotels & Resorts Maldives invites guests to embrace the season’s joy across its enchanting island collection — where every sunrise brings celebration, every sunset brings connection, and every moment becomes a cherished memory beneath the Maldivian sky.
Jen Maldives Malé by Shangri-La has been named ‘Leading Business Hotel – Maldives’ at the prestigious South Asian Travel Awards (SATA) 2025, held this year in Colombo, Sri Lanka.
The award recognises outstanding achievements in travel, tourism, and hospitality across South Asia, underscoring the hotel’s continued commitment to delivering exceptional service, modern business facilities, and a seamless experience for both corporate and leisure travellers.
General Manager Juan Carlos Diago expressed his gratitude, stating, “We are truly honoured to receive this recognition from SATA. The award is a testament to the passion, dedication, and hard work of our entire team, who consistently go above and beyond to deliver exceptional services to our guests. We share this achievement with our valued guests and partners who continue to trust and support us.”
Situated in the heart of Malé, the capital of the Maldives, Hotel Jen Malé Maldives by Shangri-La has long been a preferred choice for business travellers seeking convenience, comfort, and efficiency. The property offers state-of-the-art amenities, versatile meeting and event spaces, and a balance of work and leisure. Guests regularly commend the hotel’s professionalism and consistency in delivering high standards, making each stay both productive and memorable. Whether for a short stopover or an extended business visit, Hotel Jen continues to set the benchmark for world-class service in a dynamic urban setting.
Director of Sales Mariyam Shafiyya Steinhilber added, “We are deeply honoured to receive the Best City Hotel Award. Winning this award reflects the passion and dedication of our entire team, from our front-line staff to our management. Every department has played a vital role in creating the outstanding guest experiences that make our hotel a leader in the city’s hospitality landscape.”
The South Asian Travel Awards brings together leading industry figures from Sri Lanka, India, Nepal, Bhutan, Bangladesh, and the Maldives, and has become one of the region’s most respected platforms for recognising excellence and innovation in tourism and hospitality.
As Jen Maldives Malé by Shangri-La celebrates this milestone, the team remains dedicated to enhancing service standards and redefining the business travel experience in the Maldives and beyond.
The St. Regis Maldives Vommuli Resort is continuing its acclaimed Tastemaker Series, a curated programme of exceptional collaborations with world-renowned chefs, artists, and creative visionaries, with the arrival of Chef Grégory Doyen, one of the most distinctive talents in contemporary pastry art.
Born in Burgundy, France, into a family of artists, Chef Doyen discovered his passion for pastry during childhood, turning his family kitchen into his first studio. A graduate of the prestigious École Nationale Supérieure de la Pâtisserie, his career spanning two decades has taken him through Michelin-starred kitchens and international stages, earning him recognition as a leading figure in modern patisserie.
Renowned for his sculptural desserts and refined French craftsmanship, Chef Doyen’s creations merge technical precision with emotional expression, transforming pastry into a form of edible art. His innovative approach has led to collaborations with some of the world’s most iconic luxury maisons—including Cartier, Marc Jacobs, La Prairie, Dior, Chanel, Louis Vuitton, Vacheron Constantin, and Hermès—alongside bespoke commissions for Range Rover and Vogue. Often described as the creator of fashion-desserts, he is celebrated for infusing haute couture sensibility into the timeless artistry of French patisserie.
Guests at The St. Regis Maldives are invited to immerse themselves in Chef Doyen’s world of delicate textures and visual poetry through a special festive programme. On 10 December, he will conduct an intimate pastry masterclass, offering participants rare insight into his creative process and sculptural finesse. That evening—and throughout the festive season—his desserts will take centre stage at ALBA, the resort’s signature dining venue, where a curated dessert collection will be presented daily from 10 December to 7 January, offering a decadent celebration of the holiday season.
The residency’s highlight will unfold on 11 December at Decanter, where Chef Doyen will collaborate with the resort’s Executive Chef for a six-course, four-hands wine-pairing dinner, showcasing a symphony of refined flavours and masterful artistry.
A testament to The St. Regis legacy of exceptional taste and global collaboration, the Tastemaker Series at The St. Regis Maldives unites leading talents from gastronomy, art, and design in one-of-a-kind experiences that celebrate creativity and craftsmanship amid the breathtaking surroundings of Vommuli Island. From Michelin-starred chefs to visionary mixologists and artisans, the series continues the St. Regis tradition of curating the extraordinary—where innovation, tradition, and indulgence converge in the most exquisite of island settings.
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