yearbook 2009.indd - Ministry of Tourism Arts & Culture

Economic growth of the Maldives has been largely driven by the tourism sector. Tourism is the leading
industry and a range of tertiary activities have grown to support tourism.
Year GDP GDP Growth % Tourism Contribution
% Share of Tourism
Contribution
2004 8,312.30 9.5 2,688.80 32.3
2005 7,927.50 -4.6 1,798.50 22.7
2006 9,442.60 19.1 2,559.70 _/ 27.4 _/
2007 10,067.40 6.6 2,816.60 27.9
2008 10,607.30 5.4 2,884.95 27.2
Note: _/ Revised fi gures
Source: Ministry of Tourism, Arts & Culture
Data provided by: Department of National Planning
From mid 80’s till early 2000’s tourism has contributed over 30% to the GDP of the Maldives. Though
the percentage contribution nearly dropped by 10%, after the impact of Asian Tsunami of 2004, it started
recovering in 2006. In 2007, tourism contribution stood at 27.9% and 2008 it showed a slight decline -0.7%.
The decline in 2008 was due to the slow down in tourist arrivals in 2008 as a result of world economic
recession.
Year
Government
Revenue
Tourism Revenue
% Share of Tourism
Revenue
Tourism Tax
% Share of
Tourism Tax to
Tourism Revenue
2004 3,351.80 921.47 27.5 409.50 44.4
2005 3,788.30 911.80 24.1 346.50 _/ 37.8
2006 5,286.70 1,776.90 33.6 495.70 27.9
2007 _// 6,669.40 2,525.07 37.9 544.25 21.7
2008 7,054.43 1,969.72 27.9 566.55 28.8
Note: _/ Revised fi gures, _// Provisional estimates
Source: Ministry of Tourism, Arts & Culture
Data provided by: Department of Inland Revenue
Over the last five years, tourism contribution to the government revenue has been increasing steadily. In 2004
tourism contributed about 28% to the government revenue. In 2008, total Government Revenue was 7,054.43
million Rufiyaa out of which 1,969.72 million came from tourism. The percentage share of tourism revenue
to the total government revenue in 2008 was 27.9%.
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