Tourism milestone achievement and foreign investment surge establish Maldives as a global investment hotspot, writes JLL Hotels & Hospitality Group Senior Vice President, Investment Sales, Ling Wei Tan.
In 2025, the Maldives stands at the forefront of a remarkable transformation, fuelled by exceptional improvements in tourist access and growing investor enthusiasm.
Enhanced global connectivity drives tourism surge
The Maldives is experiencing a tourism surge driven by enhanced airline connectivity, with Air France launching bi-weekly Paris-Malé flights and Qatar Airways increasing weekly services from 21 to 28 flights. Over 45 international carriers now serve the destination. A USD100-million Velana International Airport redevelopment, funded by Saudi Arabia, includes runway and terminal upgrades. The new Dhidhdhoo airport opens by end-2025, improving northern access. International arrivals exceeded 1.2 million through mid-July 2025, up 9.6% year-on-year. This momentum supports targets of $5 billion tourism revenue and 2.4 million visitors by 2028.
Middle East emerges as key growth market
The Maldives is experiencing robust growth in tourism from the Middle East, attracting more than 80,000 visitors in 2024, about 4% of total arrivals that year. This upward trajectory persists into early 2025, with first-quarter figures revealing a robust 5% increase compared to the same period last year. The United Arab Emirates (UAE) and Saudi Arabia dominate visitor numbers from the region, with the UAE travellers showing particularly strong growth at 33% Y-o-Y in Q1 2025.
Middle Eastern tourists tend to stay longer with an average of 8.2 days compared to the overall average of 7.7 days, and preferring high-end resort properties. Grand View Research projects Middle Eastern arrivals will grow 51.8% by 2030, reaching over 121,000 visitors. UAE investments alone are expected to reach $3 billion by 2030, underscoring the region’s commitment to the destination.
Strategic supply growth and development concentration
Room supply growth reflects measured market response to demand rather than overexpansion. While visitor arrivals grew at 15.7% CAGR between 2021-2024, room supply increased only 3.7% CAGR. Projections for 2025-2028 indicate moderated supply growth at 1.7% CAGR alongside 4% demand growth, signalling market equilibrium.
New developments include Centara Grand Lagoon Maldives and JW Marriott Kaafu Atoll Island Resort. With over 21,000 keys across 176 resorts, 32.6% of existing supply clusters in Male Atoll due to proximity to Velana International Airport.
Branded residences gain momentum
Demand for branded residences continues growing, with these properties commanding 20-30% premiums over non-branded alternatives. These investments appeal to high-net-worth individuals seeking lifestyle assets with rental income potential. Recent developments, such as Aman Maldives’ announcement of 16 branded residences alongside its resort, and Baccarat Hotel & Residences, scheduled to open in 2027with 53 private residences spanning five interconnected islands in the South Malé Atoll, highlight this growing trend.
Diversified investment landscape
The investor ecosystem has expanded beyond traditional players to include institutional investors like Blackstone, Ares Management, and KSL Capital Partners. Credit-side investment opportunities are emerging as properties from the post-financial crisis era require refinancing or repositioning.
International interest spans multiple regions, with USD130 million in transactions completed in 2024. Upcoming developments include Bulgari’s Maldives resort, Mandarin Oriental’s 120-room Bolidhuffaru Reef property, and Qatari investor Estithmar Holding’s 120-suite Rosewood resort launching in 2027.
UAE developers including Emaar and Aldar are eyeing strategic expansion into the Maldives, leveraging the destination’s four-hour proximity to Dubai, making the destination a convenient getaway for Gulf residents and a strategic node for foreign investors.
 The transformative USD8.8 billion Maldives International Financial Centre (MIFC) investment from Qatari MBS Global Investments promises to establish the country as a major Indian Ocean financial hub, offering zero corporate tax and complete foreign ownership.
The Maldives’ success stems from its strategic approach to balancing supply with demand, diversifying source markets, and attracting sophisticated investors. With strong infrastructure development, expanding connectivity, and diversified investment opportunities, the destination is well-positioned for sustained growth while maintaining its luxury positioning in the global tourism market.