The Maldives’ tourism industry recorded notable momentum in the first quarter of 2025, with the resort sector leading price growth among all major industries tracked in the latest Producer Price Index (PPI) released by the Maldives Bureau of Statistics.
According to the report, the resort sector saw a 15.20% increase in quarterly prices, highlighting strong demand during the early months of the year. This surge was especially pronounced in January 2025, coinciding with the festive and peak travel season, where foreign tourist arrivals typically reach their highest. However, price growth eased in February and March, reflecting seasonal market adjustments following the New Year period.
The PPI tracks changes in prices received by domestic producers for goods and services, offering a valuable indicator of inflationary trends and sectoral performance. The Q1 2025 report, released on 29 May 2025, covers data from January to March and uses January 2019 as the base year for most sectors.
Despite slower growth in the latter part of the quarter, the resort sector’s performance signals strong demand resilience, particularly from international markets. The figures also reflect how seasonal dynamics and global travel patterns influence pricing structures within Maldives’ tourism economy.
Broader Sector Context
While the resort industry led quarterly growth, other sectors showed more modest trends:
- Water supply and information & communication sectors recorded quarterly increases of 0.43% and 3.38% respectively.
- Construction rose only 0.44% quarterly, despite a sharp 13.53% year-on-year increase, pointing to longer-term inflationary pressures rather than recent acceleration.
In contrast, education and utility sectors experienced relatively stable pricing, with growth of 0.14% and 0.95% respectively in Q1.
Future Outlook
According to the Maldives Bureau of Statistics, it plans to expand tourism-related data coverage by incorporating guesthouses and vessels into the PPI in the future. This move aims to provide a more comprehensive picture of the tourism sector, particularly in the mid-market and domestic travel segments.
As the tourism industry continues to play a central role in the Maldivian economy, tracking pricing trends across resort categories and other tourism services will become increasingly vital for investors, operators, and policymakers alike. The Maldives welcomed its one millionth tourist last Saturday, earlier this year than ever before.
