Maldives targets USD6 billion in annual tourism revenue

The government of the Maldives has set an ambitious target of generating USD6 billion in annual revenue from the tourism sector by 2027 with the launch of the Fifth Tourism Master Plan.

During the inauguration ceremony, Deputy Minister of Tourism Dr. Naushad Mohamed highlighted that the primary objective of the master plan is to increase revenue. He mentioned that the tourism sector generated USD3 billion in 2021 and USD4.2 billion in 2022. The government aims to achieve an annual revenue of USD6 billion with the implementation of the new master plan.

Speaking at the ceremony, Deputy Minister Naushad explained that the targets outlined in the master plan were established through consultations with the Ministry of Tourism, the Ministry of Finance, the Maldives Association of Tourism Industry (MATI), and other relevant stakeholders. He emphasised that the master plan focuses on providing more opportunities for women and youth, as well as increasing the employment of Maldivians in the tourism sector, particularly in leadership roles.

The objectives of the Fifth Tourism Master Plan include enhancing revenue generation in the atolls through the tourism sector, introducing new tourism products, and safeguarding the natural environment of the country from the impacts of climate change. The plan also aims to attract and retain skilled workers within the industry.

By setting ambitious targets and implementing strategic initiatives, the Fifth Tourism Master Plan seeks to drive economic growth, create employment opportunities, and ensure sustainable development in the tourism sector.