Overview of the Maldives Tourism Industry

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Overview of the Maldives tourism industry

Tourism in the Maldives took off in the early 1970s,
The beginnings of tourism in the country saw the development of just two islands as resorts in 1972, with a capacity of just 280 beds.
The supply of tourist accommodation has increased at a very steady rate. This increase was planned to meet the international tourist arrivals to the Maldives and at the end of year 2010 there were 25,701 beds in the industry. This includes Resorts, Marinas, Hotels, Guest Houses and Safari Vessels.

FIGURE 1: TOURIST ACCOMMODATION BED CAPACITY IN THE MALDIVES 2000 - 2010

Source: Ministry of Tourism, Arts & Culture, (2011)
The volume of international tourist arrivals increased at a steady rate until 2004, while a decline was witnessed in 2005 following the Asian tsunami of December 2004. However, again from 2006- 2008 there was an increase in tourist arrivals, but 2009 saw a decrease due to world economic crisis. The year 2010 accounted for a total of 791,971 international tourists to the Maldives and an all time high tourist arrivals in the country and growth of 20.7% over the past year.

Through all this, tourism has become the main platform for national economic development, with the industry accounting for over 27 per cent of the Gross Domestic Product (GDP), about 52 per cent of foreign currency earning and more than 22,000 jobs (MPND, 2007). The supply of tourist accommodation has increased at a very steady rate. This increase was planned to meet the international tourist arrivals to the Maldives and at the end of year 2010 there were 25,701 beds in the industry. This includes Resorts, Marinas, Hotels, Guest Houses and Safari Vessels.

ECONOMIC AND FINANCIAL STATUS
GLOBAL TOURISM OUTLOOK
Tourism has been for a long time, the major source of foreign exchange earnings for the Maldives. Tourism is an important contributor to employment generation and the economic growth of the country. The global...
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