Coldwell Banker Richard Ellis (CBRE) has revealed that investor interest in the Maldivian tourism industry has increased as the country continues to attract more visitors.
CBRE, the commercial real estate services and investment firm, has recommended investors to explore the Maldives for opportunities due to the strong post-pandemic recovery and broadening tourism industry. It expressed confidence that now is the time to capitalise on high returns in a market that has high growth potential due to the significant increase in tourist arrivals.
The tourism industry declined following the COVID-19 pandemic due to the low number of tourist arrivals. As such, the Maldives recorded 600,000 tourist visits in 2020 after recording 1.7 million in 2019. However, arrival figures have bounced back and the Maldives recorded 1.6 million visits in 2022.
Additionally, CBRE stated that the Maldives sees many repeat visitors, which indicates a high level of satisfaction. It also stated that the Maldives recovered much faster than Bali, which is another popular resort destination in the region, with the Maldives now maintaining occupancy levels exceeding 60%.
Furthermore, CBRE stated that investors would be encouraged by the emphasis of the government of the Maldives on sustainable tourism and environmentally friendly development as well as its initiatives to preserve the environment. It added that the government prioritises protecting the marine environment, reducing plastic, and developing renewable energy sources.