Businesses operating in the tourism sector reported continued growth during the first quarter of 2026, although the pace of expansion slowed compared with previous quarters, according to the Maldives Monetary Authority’s (MMA) Quarterly Business Survey.
The survey, which is compiled at the end of each quarter based on responses from businesses across various sectors of the economy, found that tourism activity remained positive despite weaker performance indicators.
According to the report, the index measuring total revenue declined by 40 points but remained in positive territory at 60 points. Similarly, the resort bookings index fell by 34 points to 56 points, indicating continued growth in bookings despite a slowdown in momentum.
The survey also showed moderate growth in employment across the tourism industry during the quarter.
The employment index declined by 37 points but remained positive at 20 points, suggesting that businesses continued to expand their workforce.
Meanwhile, the index measuring wages and other labour-related costs fell by 34 points to 28 points, while remaining in positive territory.
According to the MMA, tourism businesses continued to face cost pressures during the quarter. The input prices index declined by five points to 67, while the average room rates index fell by 17 points to 73. Despite the decline, both indicators remained at relatively high levels.
The report also noted that the global tourism industry was affected by ongoing conflicts in the Middle East, with the Maldives among the destinations significantly impacted by the resulting decline in travel demand. However, the survey indicated that the tourism sector is gradually recovering and returning to more normal operating conditions.
According to the latest figures released by the Ministry of Tourism and Civil Aviation, tourist arrivals to the Maldives reached 981,976 as of 10 June.
This represents a 5% decline compared with the same period last year. However, arrivals were 4% higher than those recorded during the corresponding period in 2024.
China remains the Maldives’ largest tourism source market this year, contributing more than 150,000 visitors to the country.