Maldives State Revenue from Resort Leases Rises 8.4% to USD 71.34 Million

State revenue from resort lease rents in the Maldives has climbed to USD 71.34 million so far this year, marking an 8.4 per cent increase over the same period last year. According to the Weekly Fiscal Development Report, receipts rose from the USD 64.85 million recorded by July 16 of the previous year. This financial growth reflects a robust recovery and steady operational activity within the nation's hospitality sector. Data from the Ministry of Tourism and Civil Aviation reveals that 179 of the 185 registered resorts are currently operational, providing a combined capacity of 45,115 beds for international visitors. Resorts continue to be the dominant choice for travelers, hosting 72.9 per cent of all tourists arriving in the Maldives. This accounts for 877,914 visitors year-to-date, underscoring the sector's critical role in the national economy. Parallel to this operational success, the government is implementing strategic regulatory shifts to attract larger-scale foreign investment. Recent amendments to the Special Economic Zones Act have introduced a minimum investment threshold of USD 500 million for projects within these designated zones. Government officials state that this updated statutory framework is designed to draw significant foreign capital into the country. The initiative aims to drive infrastructural progress and financial growth, facilitating holistic development that benefits Maldivian citizens across the archipelago.