Foreign direct investments to Maldives decline significantly

Tourism industry attracts the majority of foreign direct investments in the Maldives

The World Bank in a recent study has revealed that the foreign direct investment in the Maldives has decreased by USD607 million in 2020.

As such, the foreign direct investment to the island nation decreased to USD348 million last year, compared to the annual total of USD956 million in 2019.

Moreover, this significant decline is resultant from the delays of several resort and hotel projects in the Maldives due to the Covid-19 global pandemic.

The tourism industry of the island nation has always attracted the majority of foreign investments.

Meanwhile, apart from the Maldives several other countries have observed significant decline in their respective foreign direct investments due to the Covid-19 pandemic.