Visit Maldives Cuts Marketing Event Budget from 80% to 34%, Saving MVR 2 Million per Major Event

Visit Maldives Corporation has slashed its spending on international marketing events, reducing the share of its promotional budget allocated to trade shows and exhibitions from nearly 80% to 34%. The move has resulted in average savings of MVR 2 million per major event, according to figures shared at the corporation’s Annual General Meeting (AGM) held in Malé today. 

The change forms part of a wider cost-cutting strategy implemented over the past year, aimed at improving financial efficiency without compromising international visibility. While the number of large-scale events has been scaled back, Visit Maldives reported no decline in industry engagement or campaign reach.

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These adjustments come amid a broader financial turnaround for the state-owned tourism promotion body, which posted a net profit of MVR 27.5 million for 2024; its first surplus in four years. Recurrent operational expenses were reduced by over 10%, and a performance audit of PR contracts led to a cut in international agency partnerships, from 21 to six.

Despite a more selective approach to in-person promotions, the corporation currently oversees more than 21 global campaigns and has entered into co-investment agreements with tour operators and airlines valued at over MVR 10 million. These matched-funding deals are part of a revised strategy that places greater emphasis on digital outreach and strategic collaborations.