Tourism sector of the Maldives has recorded a significant growth of 7.8% last year.
Tourism sector received a revenue of USD 2.34 billion, according to statistics. This is recorded as an increase of 7.8% compared to the USD 2.14 billion the sector received the previous year.
Maldives Inland Revenue Authority (MIRA) received more than USD 280 million as Tourism Goods and Services Tax (TGST), according to statistics. Last year, more than 1.3 million tourists arrived in Maldives, which is an increase of 8% compared to the records of 2016.
While the revenue received from tourist sector increased last year, it is noteworthy that the government exerts major efforts to enhance the tourism industry. One vital project conducted by the government is the expansion of Velana International Airport at a cost of USD 1 billion.
The government expects the revenue from tourism sector to increase to USD 8 billion upon completion of the airport expansion project which would enable the authorities to serve 7.5 billion people a year.