The Maldives, an idyllic Indian Ocean archipelago comprising 26 atolls, continues to captivate global travellers with its breath-taking scenery, pristine waters, and luxurious overwater bungalows. As a premier destination renowned for its white-sand beaches and vibrant coral reefs, the Maldives remains a top choice for honeymooners, adventure enthusiasts, and those seeking serene escapes.
In a historic feat for the Maldivian tourism sector, over 600,000 tourists visited by the end of March 2024, setting a new record. March alone saw a daily influx of 6,000 to 8,000 visitors, culminating in a total of 194,227 for the month, the highest ever recorded. This surge underscores the Maldives’ enduring allure and its robust recovery amid global travel uncertainties.
By May 6, 2024, the Maldives welcomed 513,377 visitors, surpassing the milestone of 500,000 tourist arrivals for the year, largely led by China. China emerged as the leading source of tourists with 87,566 visitors, followed by Russia, the UK, Italy, Germany, and India. This impressive growth highlights the global appeal of the Maldives as a premier travel destination.
Tourism is a cornerstone of the Maldivian economy, driving substantial revenue and employment. The industry’s resilience was evident in 2023 when the Maldives saw an increase in revenue following hikes in the Goods and Services Tax (GST) rates. Despite these gains, the fiscal deficit is projected to reach 13.4% of GDP, and public debt is expected to escalate to 118.7% of GDP. The current account deficit expanded notably to 22.8% of GDP due to heightened import costs and a thriving tourism sector.
Economic growth remains strong, with real GDP growth projected at 4.4% for 2023, anticipated to rise to 5.2% in 2024. This growth is propelled by significant expansions in airport facilities and hotel capacities, positioning the Maldives for continued economic resilience and tourist influx.
Historically, Indian tourists have been significant contributors to the Maldivian tourism market. Over 200,000 Indians visited annually in the years preceding the pandemic, making India a leading source of visitors. However, the first four months of 2024 saw a notable decline, with Indian tourist numbers dropping by 42% compared to the same period in the previous year. Despite this downturn, India remained a vital market, with 209,198 Indian tourists visiting in 2023. By January 28, 2024, India had fallen to the sixth position in tourist rankings, following China and Russia.
The Maldives offers virtually free visas for all visitors, enhancing its appeal as a hassle-free travel destination. Tourists are granted a free 30-day visitor visa upon arrival, provided they have a valid passport, an onward or return ticket, and proof of sufficient financial means. Travelers must complete a Traveler Health Declaration (THD) online 96 hours before their trip. Additionally, a yellow fever vaccination is required for travelers from certain countries as per WHO guidelines.
Tourists to the Maldives can indulge in a range of activities, from snorkeling and diving to exploring the rich marine biodiversity and coral formations. The islands also offer unique cultural experiences influenced by Indian, Sri Lankan, African, and Arabian traditions. Key attractions include Male City, Artificial Beach, the National Museum, Addu Atoll, Maafushi Island, the Grand Friday Mosque, Fulhadhoo Island, The Muraka at Conrad Maldives, Vaadhoo Island, and the Whale Submarine.
Male Velana International Airport, the main gateway located on Hulhule Island in the North Male Atoll, facilitates international connectivity, supporting the influx of tourists from across the globe.
