The Edition


Tourism revenue at USD993 million in 2018 first quarter: MMA

Lujine Rasheed
02 August 2018, MVT 13:32
Tourists on a dive excursion at Summer Island Resort-
Lujine Rasheed
02 August 2018, MVT 13:32

Maldives Monetary Authority (MMA) reported on Wednesday that revenue from tourism was USD 993.5 million (MVR 15.3 billion) for the first quarter of the year 2018.

The Quarterly Economic Bulletin released by the central bank observes a significant increase in the number of tourists who visited the Maldives. Additionally, the report shows a 17 percent increase in the quarterly tourism revenue, and an 18 percent advancement in the number of tourists who visited the Maldives during this period. As a result, the total sum of income for the quarterly financial year is a 20 percent increase compared to that of last year.

The tourism revenue is inclusive of government tax received and the revenue received by tourism companies in the industry.

According to MMA, the tourism sector has made significant progress in comparison to last year's quarterly financial year. The main aspect to the progress is said to be the strong economy of countries that make up Maldives' main tourism market, as well as the progress made by airlines to their schedules.

"As a result, more flights started operations between Europe and Asia, and now the number of flights have experienced an increase during this period," stated MMA.

As reported by MMA, because of this increased number of flights from other countries and more flights scheduled for the peak-season, even more tourists are projected to visit Maldives during the next quarterly financial period.