Maldives targets USD 6 billion in tourism revenue by 2027: Minister Thoriq

Tourism Minister Ibrahim Thoriq announced during a press conference today that the government’s primary goal is to increase tourism revenue to USD 6 billion (92 billion MVR) by the year 2027. 

During a press conference held today, Minister Thoriq stated that while tourism revenue was initially estimated at USD 5.5 billion at the start of this year, it is now expected to reach USD 5.6 billion. This represents a 16 percent increase compared to previous figures.

"Therefore, we are seeing an increase beyond what we had originally forecasted," the Minister said.

Reflecting on past performance, Minister Thorig pointed out that tourism revenue in 2024 stood at USD 4.8 billion. 

Although the visitor count for the end of this year is now estimated at 2.2 million, slightly lower than the initial forecast of 2.3 million, the overall financial yield remains strong. 

So far this year, the Maldives has welcomed 2.1 million tourists, which is a 10 percent increase over the previous year. The top markets contributing to these numbers continue to be China, Russia, and the United Kingdom.

The Minister also shared details regarding the industry's current capacity, stating that there are 67,000 beds currently in operation across the country. Of this total capacity, 65 percent are located within resorts.