Maldives has seen a significant surge in revenue from airport taxes and fees, collecting over USD 162 million as of September, according to the Ministry of Finance and Planning's Weekly Fiscal Development Report.
This represents a substantial 51 percent increase compared to the same period last year.
The report details that the collection is attributed to two primary components - departure tax and the Airport Development Fee. Certain categories of passengers are exempt from these charges. Those enjoying diplomatic immunity, transit passengers, and children under two years of age are exempt from departure tax. Similarly, diplomatic immunity holders and direct transit passengers are exempt from the Airport Development Fee.
The departure tax, levied from 1 January 2022, contributed USD 77.8 million by 18 September, marking a 51 percent rise from USD 53.2 million collected during the same timeframe in the previous year. Similarly, the Airport Development Fee, implemented on 1 May 2017 and applicable to all departing passengers from Velana International Airport (VIA), generated USD 84.3 million by 18 September. This fee also experienced a considerable increase of 51.1 percent, up from USD 54.4 Million in the corresponding period last year.
The combined revenue from these airport taxes and fees (ATF) reached USD 162.1 million as of August, a stark contrast to the USD 97.3 million collected during the same period last year. This remarkable growth is largely attributed to a strong influx of tourists and an increase in tax rates.
Data from the Ministry of Tourism and Environment reveals that 1.7 million tourists have visited the Maldives so far this year, a 13 percent increase from the 1.5 million visitors during the same period last year. The government has set an ambitious target of attracting 2.3 million tourists by the end of the year, needing an additional 580,741 visitors to achieve this goal.