AGP Executive Report
Last update: 9 hours agoResort Investment: Sun Siyam Vilu Reef has opened YAYA Beach Club and a Tuscany Italian restaurant, adding new dining and leisure options as it marks 28 years in operation. Wellness Tourism: Sun Siyam says guest spending on wellness has risen 12% since 2023–24, with more visitors booking structured programmes in advance—a sign of growing demand for wellness-led stays. Tourism Development: The government has formed DRHC to develop and operate resorts, with plans to build 10 in three years and create jobs and training for Maldivians. Business Travel: Manhattan Grand Hotel has opened in Hulhumalé with 162 rooms and new meetings and events facilities, expanding the capital region’s capacity for business and transit guests. Industry Pressures: Tour companies are seeking government support after Russian tourist payments were disrupted at the Maldives’ largest bank. October arrivals reached a monthly record, but remained below the same month in 2025. Foreign Exchange: President Muizzu says new rules requiring tourism businesses and other sectors to exchange foreign currency through domestic banks will help ease the dollar shortage and build reserves.
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