Afeef says publicly owned resorts could transform Maldives tourism

Tourism pioneer and Crown Company Chairman Hussain Afeef has said the government’s plan to develop 10 resorts in which all Maldivians would share ownership could bring a major change to the country’s tourism industry.

Speaking at an event marking National Tourism Day, Afeef said he welcomed the initiative and hoped the government would succeed in implementing it.

“This is something we have high hopes for. I wish [the government] success in this,” Afeef said.

He said the initiative could extend the financial benefits of the tourism industry to a broader section of the population.

President Mohamed Muizzu announced the plan during his presidential address to Parliament in February. Under the proposal approved by the Cabinet, at least 10 resorts are to be developed through state-owned companies over the next three years, with profits from the resorts distributed in foreign currency to accounts held by Maldivian citizens.

The President said payments to citizens under the scheme are expected to begin in 2030.

“According to our calculations, an average of at least USD 400 will be deposited into the account of every citizen each year,” President Muizzu said when announcing the initiative.

“For example, in a family of five, in addition to every member of the family becoming a shareholder in at least 10 resorts, the family will receive at least USD 2,000 a year.”

The President said the government would expedite the work required to implement the initiative.

The government has also introduced legislative changes intended to allow state-owned companies to undertake tourism businesses.

An amendment submitted by the government and passed by Parliament last December allows islands, land or lagoons to be allocated for the development of tourist resorts or integrated tourist resorts by state-owned companies.