Tourism occupancy rate at 73 percent

Statistics have shown that the occupancy rate at tourism facilities was at 73 percent by the end of February.

The Central Bank, Maldives Monetary Authority (MMA)'s Economic Update for March showed that the occupancy rate between January and March was 13 percent higher than the same period last year. In 2021, the rate as at 60 percent.

MMA said the number of tourist arrivals and bed nights recorded between January and March was higher than the previous year. This year, tourist arrivals increased by 54 percent, while bed nights increased by 45 percent.

The improvements in the tourism sector are similar to pre-pandemic figures recorded in 2019. The Maldives recorded 1.7 million tourist arrivals that year.

While 149,008 tourists arrived in the Maldives in February, the number trails behind the 2019 figure by 12 percent. The central bank said that many tourists visited the Maldives from top source markets, Russia, the UK, and Italy, by February.

In January and February 2022, both tourist arrivals and bed nights increased significantly by 49 percent and 39 percent respectively. However, tourist arrivals remained below levels of the same period last year.

MMA figures show total tourist arrivals stood at 394,200 by March 23.