US dollar deposits to banks by resorts decline

Tourism accounts for 50 percent of resort revenue, but the amount of US dollars deposited by resorts in Maldivian banks has been declining year by year, according to statistics released by central bank, Maldives Monetary Authority (MMA).

Central bank figures shows that resorts deposited USD 2.3 billion in banks by the end of last year, despite the tourism sector generating USD 4.5 billion in revenue.