The State has recorded an increase in revenue from its cornerstone hospitality sector, securing more than USD 35 million in tourism land rent during the first quarter. These figures represent a significant year-over-year expansion, underscoring the continued resilience of the country’s tourism-led economy.
The state collected exactly USD 35.61 million in tourism land rent through March, reflecting a 12.5 per cent increase over the USD 31.66 million generated during the same period in the previous year, the Maldives Inland Revenue Authority reported.
The luxury segment remains the primary driver of this fiscal performance. Specific resort rent accounted for USD 28.54 million, or 10.9 per cent of total state revenue for the period. The USD 29 million collected in dollar-denominated resort rent represented 14 per cent of the nation’s total hard-currency receipts, the authority’s data showed.
This financial momentum is supported by the consistent expansion of the country’s tourism infrastructure. There are 1,303 tourist facilities currently in active operation, a network anchored by 180 dedicated resorts, figures from the Ministry of Tourism and Civil Aviation indicate. Collectively, these hospitality establishments maintain a total capacity of 45,111 beds.
The scale of this infrastructure is matched by a steady volume of international arrivals. More than 700,000 travellers have visited the country so far this year, the tourism ministry said. Current demographic trends indicate that Chinese nationals constitute the largest segment of these arrivals, further driving the sector’s sustained economic trajectory.