The Maldives Association of Travel Agents and Tour Operators (MATATO) has formally requested clarification from the Maldives Inland Revenue Authority (MIRA) regarding the recently published tourism sector revenue distribution figures. In a letter addressed to Commissioner General of Taxation Hassan Zareer on 11 February 2025, MATATO expressed concerns over the accuracy of the reported figures and their potential implications for the industry.
The figures in question were initially presented at the Maldives Association of Tourism Industry (MATI) Annual General Meeting and subsequently reported in various local news outlets. According to the data, the total revenue distribution for the tourism sector in 2024 was as follows:
- Resorts: MVR 69.3 billion (USD 4.5 billion), accounting for 83.6% of total tourism revenue.
- Domestic travel: MVR 5.3 billion (USD 347.9 million), making up 6.5%.
- MACL (duty-free revenue, airport development fees, and departure taxes): MVR 3.4 billion (USD 222.4 million), representing 4%.
- Travel agents and tour operators: MVR 2.1 billion (USD 141.4 million), accounting for 2.6%.
- Guesthouses: MVR 1.5 billion (USD 95.4 million), contributing 1.77%.
MATATO has questioned the source and methodology used to derive these figures, noting that no corresponding data has been found on the Maldives Monetary Authority (MMA) or MIRA’s public platforms. The association is particularly concerned about the reported revenue for travel agents and tour operators, stating that the combined turnover of just a few key MATATO members significantly exceeds the stated amount.
In the letter, MATATO also raised concerns that assumptions may have been made in the calculation process, which could lead to misrepresentation of the industry’s financial landscape. The association stressed that the publication of potentially inaccurate figures without thorough due diligence could negatively impact industry stakeholders and public perception.
