Minister of Tourism Faisal Ibrahim has stated the government will be announcing special loans for guesthouse development. He made the remarks during a press conference.
Speaking at the press conference, Minister Faisal noted the government will this year open special loans for youths to develop guesthouses. He stated that it was time for the youth of the country to invest in the tourism industry. The minister added that discussions have been held with the Bank of Maldives and the Maldives Islamic Bank regarding the loan scheme.
Additionally, Faisal disclosed that the Tourism Ministry is working on a master plan to develop tourism in all the atolls. He added that the master plan would also help to note the islands where more one island one resort concept can be developed. He further stated that the master plan will also include ways to sought investments. He stated the plan would also include the number of guesthouse bed capacity to be developed in the islands.
The minister has earlier stated that a percentage of the budget allocated to the Maldives Marketing and Public Relations Corporation (MMPRC) would be used to promote the tourism of Maldivian atolls. Currently, 118 guesthouses are operating in 20 atolls, contributing 23% of the total bed capacity with 14,707 beds.