More than 21,000 Sri Lankans are currently employed in the Maldives, generating around USD 129 million in annual remittances to Sri Lanka, according to comments made by Sudesh Mendis, Immediate Past President of the Sri Lanka–Maldives Business Council, as reported by Sri Lanka’s Daily News.
Mendis said a significant proportion of Sri Lankan workers in the Maldives are employed in the tourism sector, reflecting the scale of the country’s hospitality industry. He noted that over the past five decades, the Maldives has developed into one of the world’s leading luxury tourism destinations, with 168 resorts, 883 guesthouses, 13 hotels, and 152 safari boats currently in operation.
He highlighted the presence of major global hospitality brands in the Maldives, including Waldorf Astoria, Conrad, Soneva, Cheval Blanc, St. Regis, Ritz-Carlton, Four Seasons, Hilton, and One&Only. Mendis also pointed to the role of Sri Lankan investors in this growth, noting that Cinnamon Hotels and Resorts operates four resorts in the Maldives, while Aitken Spence manages five. According to him, some ultra-luxury villas now command nightly rates of up to USD 75,000, while average resort prices range between USD 150 and USD 1,500.
Mendis added that Sri Lankan agricultural produce remains popular among Maldivian resorts, although Sri Lanka’s overall market share has declined to 3.72 percent. He attributed this reduction to pricing pressures and policy-related challenges affecting competitiveness.
Reflecting on bilateral ties, Mendis spoke about the long-standing relationship between Sri Lanka and the Maldives, citing Sri Lanka’s support during Maldivian independence in 1965, the launch of the first commercial flight, the development of Hulhulé Airport, and the introduction of tourism through Ceylon Tours. He also referred to cultural and people-to-people links, including the contribution of Sri Lankan composer Pandit W. D. Amaradeva to the Maldivian national anthem, as well as infrastructure projects funded by Sri Lanka in later years. He recalled the support extended by Maldivian leaders, businesses, media, and citizens during Sri Lanka’s recent economic crisis as a reflection of enduring goodwill between the two countries.
Turning to economic indicators, Mendis said the Maldives leads Asia in GDP per capita at USD 13,216, compared with Sri Lanka’s USD 4,516. He noted that the Maldives recorded a nominal GDP of USD 6.59 billion in 2023 while serving a population of around 530,000, and argued that Sri Lanka should focus on expanding business and employment opportunities linked to the Maldivian economy, given the proximity and close ties between the two countries.
