President Dr Mohamed Muizzu has announced a new system designed to ensure that the benefits of the tourism industry reach individual citizens directly.
The President made these remarks this morning whilst delivering the Presidential Address at the first sitting of the first session of the 20th People's Majlis for the year.
The President stated that Maldivian citizens, as the true owners of the nation's natural assets, rightfully deserve a direct and systematic share of the industry's income. To this end, the Government has decided to develop a minimum of 10 resorts through a State-Owned Enterprise over the next three years. A significant portion of the profits from these resorts will be deposited equally into the bank accounts of every Maldivian citizen, without exception. These payments will be made annually in foreign currency.
Furthermore, the President announced that a new law will be enacted to designate every Maldivian citizen as a shareholder in all resorts developed under this project. He estimated that the benefits of this historic initiative will begin to reach the public by 2030.
In his address, the President also declared 2027 as Visit Maldives Year, aiming to transform national tourism promotion into an inclusive and unified effort. He noted that the Maldives Monetary Authority (MMA) forecasts tourism revenue to reach USD 5.6 billion in 2026, and affirmed that the Government's target is to increase tourist arrivals to 2.5 million this year.
Additionally, the President highlighted efforts to expand tourism, including Halal tourism, in six atolls where the industry is currently underdeveloped. By offering special investment incentives, eight sites have already been awarded, with lease agreements signed for six of them, including one island specifically dedicated to Halal tourism.
The President also provided updates on the progress of tourism in Addu City, noting the reopening of the Shangri-La resort and the re-awarding of the previously stalled Hankede project for integrated tourism development.
