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World Bank Projects Maldives’ GDP to Grow by 17.1% Thanks to Tourism

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According to a new report, the World Bank projects Maldives’ GDP to grow by 17.1% in 2021 and 11.5% in 2022 thanks to tourism.

The World Bank projects Maldives’ GDP to grow by 17.1% in 2021 and 11.5% in 2022 thanks to tourism. According to a report by the World Bank, the Maldives’ strong repute among high-income and high-profile travellers aided the country chart a steady recovery.

In the Maldives’ medium-term outlook, World Bank says International media coverage of the tropical holiday destination reopening to tourism and successful marketing campaigns boosted the Maldives’ global image. Hence, the country attracted travellers from new markets such as Eastern Europe and Central Asia.

Additionally, the ongoing rollout of COVID-19 vaccines in the country further increases travellers’ confidence in the Maldives as a safe destination according to World Bank. Because of these reasons, demand for travel to the Maldives likely will remain high over the medium term.

Despite the positive outlook, World Bank states that Maldives’ recovery from the pandemic also depends on the uncertain recovery of global tourism and aviation industries. As the industry suffered immeasurable losses in 2020, tourism and aviation aren’t predicted to recover to the pre-pandemic levels until 2023 (or beyond).

Also read: Average Duration of Tourists’ Stay in the Maldives Increases

Currently, the World Bank projects that the Maldives will only reach its pre-pandemic levels of tourism and output in 2023.

Maldives is on track to receive an estimated one million tourists in 2021, about 60 percent of the 2019 record of 1.7 million tourists. This is a much more conservative estimate than the government’s current target of 1.5 million tourists.

The World Bank report stated.

However, if global travel restrictions were to be lifted sooner from major markets such as China, United Kingdom, and Italy, World Bank calculates the Maldives’ GDP could pick up strong in 2021.

According to the statistics, Maldives recorded 385,838 tourist arrivals by 29th April 2021. Furthermore, tourists spent an average of 9 days in the tropical holiday destination. Moreover, daily tourists arrivals continue to average above 3000.

Feature image by Kanuhura Maldives
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Travel + Leisure China Names Two Maldives Resorts Among Reader’s Favorite Overseas Hotels

Maldives Resorts: St. Regis Maldives Vommuli & Le Méridien Maldives Resort

At the 2024 Travel + Leisure China Travel Awards, The St. Regis Maldives Vommuli Resort and Le Méridien Maldives Resort & Spa were honored as two of the Reader’s Favorite Overseas Hotels. This honor highlights the exceptional hospitality, top-tier facilities, and bespoke guest experiences that continue to captivate discerning travelers. Recognized for their extraordinary service and unique offerings, both resorts stand out as prime destinations in the Maldives, reflecting the highest standards of luxury travel.

Since their inception in 2007, the Travel + Leisure China Travel Awards have set a significant benchmark for excellence in the travel industry. For over 17 years, these awards have celebrated the best in luxury travel, evaluated by a panel of travel experts, industry professionals, and consumers alike. Indeed, the recognition of The St. Regis Maldives Vommuli Resort and Le Méridien Maldives Resort & Spa underscores their continuous commitment to excellence and their ability to provide truly remarkable experiences for their guests.

A Commitment to World-Class Hospitality

Peter Foreman, Senior Director of Sales, Marketing & Distribution for Singapore and the Maldives, expressed his pride in receiving this recognition.

“We are honored to see The St. Regis Maldives Vommuli Resort and Le Méridien Maldives Resort & Spa recognized among the Reader’s Favorite Overseas Hotels at the Travel + Leisure China Travel Awards 2024. This accolade reflects our unwavering commitment to delivering world-class hospitality, immersive experiences, and exceptional service in the Maldives. We extend our heartfelt gratitude to our guests and industry peers for their continued support and trust”

The St. Regis Maldives Vommuli Resort

A Private Sanctuary of Luxury

The St. Regis Maldives Vommuli Resort offers an exclusive retreat nestled on a private island in Dhaalu Atoll, blending luxury with natural beauty. WOW Architects designed the resort to draw inspiration from the Maldives’ marine life, incorporating manta ray-shaped villas, a Whale Shark-inspired Whale Bar, and a lobster-shaped Iridium Spa. The resort features 77 overwater and beachfront villas, each offering private pools, stunning views, and personalized butler service to ensure an exceptional stay.

Moreover, guests at The St. Regis Maldives enjoy rejuvenating Ayurvedic treatments at the Iridium Spa, which houses the Blue Hole Pool—one of the largest hydrotherapy pools in the Maldives. In addition, guests also indulge in the resort’s iconic Champagne Sabering Ritual at The Whale Bar, followed by an evening of indulgence in the resort’s seven restaurants and two bars, which offer a variety of international cuisines. Signature dining experiences include T·Pan’s Japanese Kaiseki and Decanter’s underground wine cellar, home to 650 labels. Conveniently, the resort is a scenic 45-minute seaplane ride from Malé, offering guests access to thrilling marine adventures like snorkeling with manta rays and whale sharks, as well as participating in coral reef restoration efforts.

Le Méridien Maldives Resort & Spa

A Sustainable and Creative Escape

Le Méridien Maldives Resort & Spa offers a chic, eco-conscious experience on Thilamaafushi Island in Lhaviyani Atoll. Surrounded by pristine coral reefs and a rare 360-degree lagoon, the resort’s 134 villas offer breathtaking views and a unique blend of modern luxury with mid-century design aesthetics. Furthermore, the resort commits to sustainability by offering farm-to-table dining at The Harvest Table, which features ingredients from The Greenhouse, one of the Maldives’ largest organic gardens.

The resort’s wellness offerings elevate at Explore Spa by Le Méridien, where guests unwind in a tranquil environment. Additionally, Le Méridien Maldives also plays a key role in marine conservation, with its vibrant house reef offering eco-conscious guests the opportunity to explore the rich marine life. The resort’s family-friendly approach includes the Le Méridien Family Kids Hub, where younger travelers engage in enriching activities.

An Unforgettable Luxury Escape in the Maldives

The St. Regis Maldives Vommuli Resort and Le Méridien Maldives Resort & Spa are two jewels in Marriott Bonvoy’s distinguished portfolio of resorts in the Maldives. Alongside these exceptional properties are other renowned destinations, including The Ritz-Carlton Maldives, Fari Islands, W Maldives, JW Marriott Kaafu Atoll Island Resort, and Sheraton Maldives Full Moon Resort & Spa. Each of these resorts offers a unique and immersive experience, set on their own private islands, ensuring guests enjoy an unparalleled escape in one of the world’s most coveted tropical paradises.

Indeed, the recognition of The St. Regis Maldives Vommuli Resort and Le Méridien Maldives Resort & Spa at the Travel + Leisure China Travel Awards 2024 only strengthens their position as two of the Maldives’ premier luxury resorts. Their dedication to offering impeccable service, innovative experiences, and unforgettable stays has solidified their reputation as leaders in luxury travel. Indeed, this prestigious acknowledgment serves as a testament to their continued excellence, ensuring every guest enjoys a remarkable and truly exclusive Maldivian getaway.

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