Minister of Economic Development and Trade Mohamed Saeed has stated that the government aims to increase the tourism industry's contribution to the economy to USD6 million. He made the remark during a press conference held by the newly established Visitor Economic Council at the President's Office.
At the press conference, the council’s co-chairs and other ministers explained the council's purpose and outlined plans to implement its mandate. Minister Saeed underscored that the tourism industry currently contributes USD4.5 billion to the economy and emphasised the council's goal to increase this contribution to USD6 billion, in alignment with the short-term objectives of President Dr. Mohamed Muizzu’s administration. The projected revenue increase involves diversifying tourism by exploring untapped avenues such as sports tourism, cultural tourism, education tourism and health tourism.
While the current GDP of the Maldives is USD6 billion, Minister Saeed said that President Muizzu aims to raise the tourism industry's contribution to that level due to the country's reliance on the sector. He said that the President plans to diversify the tourism industry and expand it to various parts of the country. As such, he said that specialised forms of tourism will be developed in specific regions.
The Visitor Economic Council was formed during the first Cabinet meeting of President Muizzu's administration. The council is comprised of cabinet members and its formation aligns with President Muizzu's vision to expand and diversify tourism, the cornerstone of the country's economy. President Muizzu chairs the Visitor Economic Council, with Minister of Economic Development and Trade Mohamed Saeed, and Minister of Tourism Ibrahim Faisal serving as co-chairs.