In the years since, five phases can be identified in the development of the maldivian tourism industry mtca, 2008a. Strategic ec on om ic pl an s e p minis try of plan ning and nati onal deve lopm ent. Tourism is the largest economic industry in the maldives, as it plays an important role in earning foreign exchange revenues and generating employment in the tertiary sector of the country. Maldives tourism industry faces challenges as chinese. Asian development bank the views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the asian. Tourism in the maldives had a humble beginning in 1972 with the opening of just two resort islands in kaafu atoll, having a total of 280 beds. Maldives ecotourism guarantees that the beauty of the islands will be available to an unlimited number of generations, but it is up to the inhabitants and those who tour the islands to uphold the laws and regulations. The archipelago of the maldives is the main source of attraction to many tourists visiting the island country. Maldives is a group of one thousand two hundred islands of which only two hundred are currently inhabited, and of all these islands, none rises eight feet above sea level. The republic of maldives is highly vulnerable to negative impacts of climate change and. Despite the various challenges, the hospitality and tourism industry of the maldives has been resilient, and the performance of the sector of the showed improvement in the year 2016 compared to the year 2015. Like the maldives, the swiss economy is highly reliant on tourism. The maldives as a destination is, arguably, the greatest revolution in luxury travel in the last several decades. Maldives economy main economic activities tourism and.
Advocators of tourism development in small island developing states sids promote. Maldives, the following documents have been released and are included in this package. Countrys brief information, economy, currency, how can do investment and advantages for the investments in the maldives will be mentioned in this report. Maldivess crucial tourism industry is facing challenging times as it grapples with declining chinese tourist arrivals, the island nations main source of tourism revenues. A press release summarizing the views of the executive board as expressed during its may, 2016 consideration of the staff report that concluded the article iv. Tourism in the maldives began in 1972 with 2 tourist resorts namely kurumba village and bandos island resort with a bed capacity of 280. The diverse possibilities of tourism in the maldives remained untapped, including liveaboard and budget tourism, which came about in 2006 and 2010 respectively. Environmental impacts of tourism and management in maldives. Overcoming the challenges of a small island state mandaluyong city, philippines. Economic indicators for maldives including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and. The development of a profitable highend tour ism sector has fueled sustained growth rates and supported public investments in health and education.
Investment opportunities in the maldives ahmed ameen mohamed 448406 preface this short report is about the investment opportunities in the maldives. Tourism history tourism in the maldives 25 years of. Over time, the maldives has proven itself to be a resilient market and rebounded quickly from downturn. With a total arrival of 1,286,5 inbound international. National bureau of statistics, ministry of national planning and infrastructure. Developing agriculture as the third pillar of the economy, after tourism and fishing, is one of the priorities of the. Statistical yearbook of maldives statistics maldives. Over the years, resort islands increased, expanding rapidly the industry across the country from north to south. The maldives tourism promotion board was established by the government to promote quality and sustainable growth in the countrys tourism industry and to foster a well utilized and financially healthy private sector industry. Maldives association of tourism industry mati maldives. Tourism is the main industry in the maldives and contributes about 32% to its gdp a figure which could easily rise to 70% if indirect sectors relating to tourism are taken into account.
That said, there are still many unexplored waters in maldivian tourism, and one individual blessed with the foresight to introduce yet another new frontier to the industry is abdulla anif. The experience gave us insight and courage to take on this important topic. Recently maldives government has given authority to develop guest houses or city hotels at local islands. Added to this impressive tally, there are plans to open another 23 resorts in 2018 and 2019, the maldivian minister of.
The maldives is a popular tourist destination which is advertised as a. Maldives tourism industry posts annual growth of 7. For example, maldivess exports rank is higher than please wait. Tourism is the largest economic industry in the maldives, as it plays an important role in earning. Percentile ranks are calculated using the latest available data for all countries within the last 5 years. Maldives country guide travel, tourism, resort, holiday, research, business and investor information. The industry now is very much regulated by the government of the maldives. Learn more about the maldives economy, including the population of maldives, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Tourism and the development of the maldives article pdf available in annals of tourism research 162. Tourism is one of the main work providers, as it employed 146259 people in 2012 stf, 20, p. Catching on to new tourism trends in the maldives the.
Tourism and the economic development of the maldives. It is the fourth most important export industry in the country after the chemical industry, machine industry and watchmaking industry. Social inhibitors to engagement in the maldivian tourism industry dr. Tourism can negatively impact the environment of the maldives because resort islands have changed many aspects of the maldives. Both in popular conception and reality the maldives relies on its marine life and beaches to sustain a tourism industry that contributes over 30% of total gdp. Tourists first started coming to the maldives in significant numbers in 1972 when the first resort, with a 280bed capacity, was established. Chapter iv growth and development of tourism in maldives tourism as the largest sector of the economy in the maldives, as it plays an important role in earning foreign exchange revenues and generating employment in the tertiary sector of the country. This release is a brief analysis of the current labour market situation as it provides the most. The tourism sector requires large quantities of timber to construct the resorts using traditional methods. Benefiting from its pristine natural islands, crystalclear water and idyllic sandy beaches. Balachandran the maldives tourism industry has seen yearonyear growth of 7. Many of the aspects in the countrys economy present a challenging situation of it being vulnerable to external shocks. Maldives page 2 the republic of maldives has approximately 1,192 inhabited and uninhabited islands, with the nation spread in two rows of 26 natural atolls across an area of.
It is the world standard for tropical paradises and exclusivity, where unsurpassed beauty has. Challenges of including women in the maldivian resort sector 2 acknowledgements the inspiration to write a thesis on women in the maldives came to us while working and living in the maldivian culture during 5 months in the fall of 2010. The purpose of this graph is to take a snapshot of a countrys economy in comparison to other economies. The maldives tourism and hospitality sector has contributed 22.
Tourism in the maldives has been contributing to more than 22% of the national gdp for the last five years. Maldives, like other island economies, has a small domestic market and limited labour force. Maldives switches focus from climate threat to mass tourism the new government plans to relocate residents to larger atolls leaving small islands ripe for development. Even though tourism is a huge industry in the maldives, accounting for onethird of their economic output, the local population is regularly shut out of jobs at these resorts. The accommodation facilities present in the maldives include resorts, safari vessels, and guesthouses. Announcement for interested artists to perform on visit. Maldives ecotourism sustains a nation maafushi island. From a very humble beginning in the 1970s the tourism in the maldives has evolved and matured into an industry, which is a key player of the domestic economy. Tourism in the maldives a modern legend in global tourism.
Development of tourism in maldives suresh kumar kundur abstract tourism is the largest sector of the economy in the maldives, as it plays an important role in earning foreign exchange revenues and generating employment in the tertiary sector of the country. Development report nhdr in 2001, the maldives has undergone a. Investment opportunity in maldives guesthouse business sector. Per capita gdp growth for maldives is expected at 2. Maldives is the most competitive industry and there are more than 100 tourist resorts and several guest houses in male and few guest houses on the local islands.
This page provides maldives gdp annual growth rate actual values, historical data. During the 1970s, the maldives was largely unknown to. By the ministry of finance and treasury and the united nations development programme in the maldives. Tourism sector in the maldives maldives travel and. This article considers the economic and related consequences of international tourism for the maldives. It also accounts for 30% of the governments revenue. Tourism is now developed and managed according to country wide policy based on a master plan.
Introduction in census 2014, employment section of the questionnaire is applicable to persons aged 15 and above. Tourism generates a 5th of maldives total employment and 70% of its foreign exchange earnings. Tourism continues to play a major role in the economic development of asian and pacific countries. The tourism ministry also said the total contribution of travel and tourism in the country amounts to 70 percent of the foreign exchange earnings and onethird of the governments revenue.
In maldives the resorts are self contained island communities with all the amenities on the island. Thus, this chapter provides insight of the economic status of the population above 15 years of age. Travel and tourism in maldives industry market share, size, forecast and trends by 2020 published on oct 5, 2016 the maldives tourism sector is largely dependent on international arrivals. Forest resources are likely to be affected given the. However, tourism development is not without concerns.
Hence, foreign investors are not eager to invest unless there are special. Tourist arrival by nationality, january december 2017 pdf. The maldives islands specks of emerald green enveloped by dazzling turquoise waters like scattered beads in the ocean. The health care facilities of maldives are graded to three levels depending on the range of services available in these facilities. The charm of festivals in maldives the republic of maldives is famous for its natural beauty and its rich cultural heritage.
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