By A special tourism development plan for Addu City known as “Asseyri Tourism” is being prepared to launch as a special coastal tourism project with a seaplane hub.
In the first Presidential address at the Parliament of Maldives, President Dr. Mohamed Muizzu has unveiled major development plans for the tourism and investment sector.
The Maldivian tourism sector, the cornerstone of its productivity, is poised to reach a significant milestone by welcoming 2 million tourists this year, for the first time. Projections indicate that this growth trajectory will persist, with an average annual increase of 10.3 percent in the medium term, propelled by the completion of Velana International Airport and the introduction of new flight routes, as per the government. During his address, President Dr. Muizzu noted the importance of diversifying the tourism offerings for expanding the entire economy, leveraging the Maldives’ considerable competitive advantage in this sector.
In the tourism sector, the government aims to open 20 new resorts this year and create more than 2800 beds. In addition to this, to facilitate the completion of unbuilt resorts and the work of identifying solutions to the difficulties in the development of the islands, land and reef area leased for tourism development has already started.
The Ministry of Tourism, Ministry of Finance, MIRA, and Economic Council are currently formulating a policy to complete and market 63 projects allocated for tourism development. The lease agreement and investments for the development and completion of such facilities will be re-structured and a necessary policy to aid the completion of the work of these islands will be formulated and hopefully implemented.
A Visitor Economy Council within the Cabinet has also been established to enhance tourism services in the Maldives. Through this, the government aims to introduce MICE (Meetings, Incentives, Conferences and Exhibitions) tourism to position the Maldives as a destination for major international conferences and ceremonies.
Ongoing efforts to expand long-haul routes and establish direct flights to emerging markets are underway, through the Visitor Economy Council, which oversees the introduction of innovative tourism products to enhance sector diversification. Concurrently, following these initiatives, sectors such as construction, real estate, and transportation are poised for significant growth in the coming years.
Additionally, Maldives aims to expand tourism services in the domains of education, culture, heritage, health, and environment.
With the projected GDP expansion of 5.5 percent this year and an average annual growth rate of 7.1 percent in the medium term, the Maldives is positioned for continued economic prosperity.