Maldives National Development strategy

Where are the Maldives

1,200 islands in north-central Indian Ocean

Define national development strategy

A strategy implemented by a country to guide its socio-economic growth and advancement in a certain direction, especially if they have no valuable natural resources to trade for income

What is stage 1

Exploration - 1,200 beautiful islands with locals seeing potential. First resort was built in 1972

What is stage 2

Investment: The resort became incredibly popular and fully booked. TNC’s saw potential and built 50 resorts from 2018 - 2022

Stage 3

Growth:

• GDP: 25 million to 6.2 billion

• Life expectancy: 47 to 80

• Literacy: 80% to 98%

Stage 4

Consolidation: The economy is completely dependant on tourism.

30% of GDP from tourism, 60% from foreign exchange

Stage 5

Decline or rejuvenation:

• Trash build-up creating island Thilafishi - drifted out to sea, caught on fire, releasing toxic fumes causing locals on non-developed islands to leave

• Hazards such as Indian ocean tsunami in 2004, killing 82.

• Covid caused tourism to decrease by 70% in first month

• Due to climate change is predicted to be completely submerged by 2100

How are they planning on rejuvenating

Through MICE - Meetings, incentives, conferences, exhibitions. Make the islands even more luxurious and niche