The tourism industry of Maldives suffered a major blow due to the Covid-19 pandemic in 2020.
As per Maldives Monetary Authority (MMA) Economic Update the industry observed no new tourist arrivals and bednights fell by 99% in April 2020.
Moreover, the central bank in their update notes the halt stems out from government’s decision to impose travel restrictions with the temporary international border closure.
Earlier, Maldives government made the announcement it will be cancelling on-arrival tourist visas effective from 27 March 2020.
Furthermore, during review period the operational bed capacity of the industry fell by 78% while occupancy fell to 3%.
In comparison, the occupancy rate was at 71% on April 2019.
Overall, for the period between January to April 2020 the total tourist arrivals declined by 41% in annual terms while total bednights of the industry plummeted 32%.