MATATO rejected the World Bank's explanation of the Maldives' tourism slowdown, attributing it instead to a gap between growing tourism supply and marketing efforts. The association cited a 49 percent bed occupancy gap, shorter average stays and a MVR 2.5 billion fall in tourism revenue between 2022 and 2023, while the World Bank cut its growth forecast from 5.2 percent to 4.7 percent.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
… MATATO has also noticed a reduction in average daily rates or prices for services across the sector and a lack of planned marketing efforts to meet the increased supply
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the World Bank, in identifying the trend, cut its growth forecast for the Maldives from 5.2 percent to 4.7 percent in its South Asia Development Update report released this month.
Word for word from the report in Maldives Republic. Open the report
the World Bank, in identifying the trend, cut its growth forecast for the Maldives from 5.2 percent to 4.7 percent in its South Asia Development Update report released this month.
Word for word from the report in Maldives Republic. Open the report
49 percent of the Maldives’ 62,822 tourist beds were unoccupied at the end of last year.
Word for word from the report in Maldives Republic. Open the report
49 percent of the Maldives’ 62,822 tourist beds were unoccupied at the end of last year.
Word for word from the report in Maldives Republic. Open the report
The average number of days spent by tourists in the country also fell — from 8.1 in 2022 to 7.6 in 2023.
Word for word from the report in Maldives Republic. Open the report
The average number of days spent by tourists in the country also fell — from 8.1 in 2022 to 7.6 in 2023.
Word for word from the report in Maldives Republic. Open the report
tourism revenue declined by MVR 2.5 billion between 2022 and 2023.
Word for word from the report in Maldives Republic. Open the report
the World Bank, in identifying the trend, cut its growth forecast for the Maldives from 5.2 percent to 4.7 percent in its South Asia Development Update report released this month.
Word for word from the report in Maldives Republic. Open the report
MATATO’s statement was in a response to World Bank claims that the Maldives’ revenue and GDP growth is slowing due to tourists opting for guesthouses, which offer cheaper stays, over luxury resorts
Word for word from the report in Maldives Republic. Open the report