Foreign currency earnings from tourism increase despite a decline in tourist arrivals

Despite a decline in tourist arrivals due to the conflict in the Middle East, the Maldives Monetary Authority (MMA) has revealed that foreign exchange earnings from the tourism sector to the Maldivian economy have increased by 1%.

In a press release, the MMA stated that the war, which commenced on February 28, led to the closure of major air transit hubs and increased travel costs, resulting in a significant drop in tourist arrivals.

Total tourist arrivals decreased by 6% through June 2026, and by 5% when including July. However, the statement noted that there are emerging signs of a gradual recovery from this decline.

The MMA highlighted that significant efforts have been made to promote the Maldives in new markets and enhance connectivity to offset the adverse impact on tourism caused by the decline in arrivals from Europe and North America due to the war.

According to the latest statistics released by the Ministry of Tourism, over 1.3 million tourists visited the Maldives for holidays from January this year until last Wednesday. However, this represents a 3.9% decrease compared to the previous year.

China is currently the leading source market for tourists to the Maldives, with over 252,000 arrivals recorded so far. Russia follows as the second-largest market with over 199,000 tourists, while the United Kingdom ranks third with more than 106,000 arrivals. Additionally, significant numbers of tourists continue to arrive from Italy, Germany, and India.

From the first of this month to date, over 131,000 tourists have arrived in the Maldives, compared to more than 127,000 arrivals during the same period last year.