Increased tourism to promote Thai investments in Maldives

Leading hospitality firms of Thailand show interest to further invest in Maldives in wake of escalating tourist activity. Recent growth in bookings of flights and tickets to Maldives will help these firms establish a foothold there.

Maldives tourism industry is growing at a rapid rate which has led to the destination attracting foreign players keen on investing in the Indian Ocean’s most popular island.

Recently, the Thailand administration announced to promote trade and tourism ties between Thailand and Maldives, following which a number of Thai hospitality firms have shown interest to further expand their services in the Maldivian archipelago.

Thailand’s popular Centara Hotels and Resorts plans to open a third five star resort in the Maldives as growing tourism has helped in successful operations of its first two ventures. The new resort will be developed under an investment cost of USD 30 million.

According to senior officials of the company, the opening up of the Centara Hudhufushi Resort & Spa is a strategic move that will help expand their presence in the Indian Ocean. While the firm shows confidence of strong business opportunity in light of the increased tourist spending, the holidaymakers booking tickets on flights to the island destination can expect another luxurious option for accommodation.

With a number of tourists booking tickets to Maldives, the country has recently seen a swell in the frequency of flights with direct routes being started by Thailand’s leading air service provider Bangkok Airways.

Maldives projects a 20% increase in tourist activity this year with the number of tourists booking flights and tickets to reach 1.2 million.

The tourism industry contributes to almost 30% of the GDP of Maldives and more than 60% of its foreign exchange receipts. The increase in tourism budget in 2013 from USD 1.2 million to USD 5.1 million will further seek to expand the sale of air tickets as more and more tourists will be lured in to book flights and holidays to this popular destination.