Maldives Unveils Ambitious Plan to Develop State-Owned Resorts, Promising Annual Payout to Every Citizen

In a landmark announcement that could reshape the future of Maldivian tourism and economic equity, President Dr Mohamed Muizzu has revealed a bold government initiative to develop 10 islands into world-class tourist resorts within the next three years. 

Speaking during the Presidential Address at the opening session of Parliament, President Muizzu emphasised the urgent need to ensure that the nation’s most lucrative industry—tourism—directly benefits the people of the Maldives. 

“After 50 years since the official launch of our tourism sector, it is unacceptable that our citizens remain largely disconnected from the wealth generated by our own natural assets,” he said. 

The plan centers on a newly empowered state-owned company that will develop and operate the resorts, with a revolutionary model designed to return profits directly to the public. 

Under the proposal, every citizen will become a shareholder in the resorts, with at least USD 400 to be deposited annually into each individual’s bank account starting in 2030. A family of five could therefore expect a minimum of USD 2,000 per year without exception.

President Muizzu stressed that this initiative marks a paradigm shift in how the country manages its tourism resources, which have long been dominated by private companies leasing islands for decades with limited long-term public benefit. 

“The real owners of our islands are the people of Maldives. It is only just that they receive a direct share of the profits,” he stressed.

Citing data from the Maldives Monetary Authority (MMA), the President noted that tourism generated USD 5.5 billion in revenue last year—an increase of 13 percent from 2024—and is projected to reach USD 5.6 billion in 2026. With tourist arrivals expected to grow by 17 percent to 2.5 million this year, the government sees an unprecedented opportunity to harness this economic momentum for national welfare. 

The 10 selected islands will be developed sustainably, preserving the Maldives’ fragile environment while positioning the nation as a leader in both eco-tourism and inclusive economic growth. 

“This is not just about building resorts. It is about building a future where every Maldivian has a stake in our nation’s success,” the President said, outlining his vision of national unity and shared prosperity.