The Maldives experienced a significant boost in its dollar-denominated revenue last month, with a 30 percent year-on-year increase, according to the Maldives Inland Revenue Authority (MIRA).
In January 2026, the country earned USD 180.4 million in foreign currency revenue, up from USD 125.9 million during the same period last year. Key contributors to the growth included tourism-related taxes such as the Tourist Goods and Services Tax (T-GST), departure tax, income tax, and airport development fees.
T-GST led the way with USD 79 million in earnings, followed by income tax at USD 37 million, land acquisition and conversion fees at USD 17 million, green tax at USD 14 million, airport development fees at USD 12 million, and departure tax at USD 11 million. Notably, the green tax—imposed to support environmental sustainability initiatives—saw the most dramatic rise, doubling compared to January 2025.
This strong start to the year builds on last year’s momentum, when MIRA collected a record USD 1.4 billion in dollar revenue—a 37 percent increase from the USD 1 billion earned in 2024—underscoring the continued resilience and expansion of the Maldives’ tourism-driven economy.