Resorts Pay MVR 714 Million in Land Rent Amid Industry Decline

Statistics published by the Maldives Inland Revenue Authority (MIRA) show that the tourism sector paid over MVR 714 million in land rent between January and April this year, as tourism stakeholders warn that the industry has faced mounting losses and declining arrivals since March.

According to MIRA data, a total of MVR 714,623,674 was collected through tourism land rent between January and April this year.

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Monthly collections stood at MVR 127.1 million in January, MVR 18.7 million in February, MVR 440.1 million in March and MVR 128.6 million in April. 

The figures come as the Maldives Association of Travel Agents and Tour Operators (MATATO) warns that the tourism industry has incurred substantial losses since March.

According to the association, tourist arrivals to the Maldives declined by between 15 and 20 per cent in March and April compared with the same period last year. MATATO also warned that forward bookings from key source markets could weaken further, placing additional pressure on tourism businesses.

Speaking during a previous media briefing at the President’s Office, President Mohamed Muizzu said the issue was being reviewed by a ministerial committee established to assess the impact of the Middle East conflict.

Muizzu said the committee was consulting tourism industry stakeholders before determining what assistance could be provided. During the briefing, he also stated that the Maldives tourism industry had suffered losses exceeding half a billion dollars due to the conflict in the Middle East.

Meanwhile, Tourism and Civil Aviation Minister Mohamed Ameen said at a press conference held by the Special Cabinet Committee on Middle East Tensions that 2025 had initially been the strongest year for tourist arrivals in the Maldives.

However, compared with the same periods last year, tourist arrivals fell by 22.5 per cent in March and 26.5 per cent in April this year.

Ameen said authorities were working with Middle Eastern partners and other stakeholders to sustain and increase arrivals, including through identifying alternative travel routes for European tourists and exploring new tourism markets.

Officials also noted that the decline in arrivals had narrowed to 8.9 per cent in May.