BML to Provide Financial Support to Resorts Amid Drop in Tourist Arrivals

Minister of Tourism and Environment, Thoriq Ibrahim, has announced that the Bank of Maldives has begun providing financial assistance to resorts experiencing losses due to a decline in tourist arrivals linked to the ongoing conflict in the Middle East.

Speaking at a press conference held at the President's Office, Minister Thoriq stated that the conflict has created significant operational and management challenges for both existing resorts and tourism properties currently under development.

He noted that following discussions with the Maldives Association of Tourism Industry, efforts are underway to facilitate various financial packages through banks for resorts facing difficulties.

The Minister stated that through discussions with BML, the bank is now ready to offer a range of support facilities to assist resorts whose operations have been disrupted. He added that this collaboration between the bank and the affected resorts is already in progress.

He advised that resorts seeking financial assistance can directly contact the Bank of Maldives to access these facilities.

In addition, Minister Thoriq highlighted that the Ministry of Tourism is working closely with the Ministry of Transport to consult with airlines on increasing flight frequencies and attracting new carriers from additional countries.

The Minister further mentioned that destination marketing initiatives are being carried out in partnership with Visit Maldives. Significant efforts are set to launch this week, including a major digital campaign targeting the Indian, Asean, and CIS markets, aiming to reach over 200 million impressions.

He emphasized that the primary focus is on the Indian market and that these strategically designed campaigns are intended to boost tourist arrivals from late April through the low season months of May, June, and July.