The government needs to attract four or five million tourists a year to meet its target of increasing the national productivity measure or GDP to USD 12 billion, Economic Minister Mohamed Saeed has said.
He was speaking at the ceremony to mark the establishment of the Maldives' first Special Economic Zone (SEZ) and the inauguration of the second phase of development of Velana International Airport (VIA).
Saeed said the plan to develop VIA by designating an economic zone is an important decision taken by the government to change the economic situation in Maldives.
He stated that four or five million tourists should be brought to Maldives annually to increase the GDP to USD 12 billion to achieve the vision of President Dr. Mohamed Muizzu.
"Four million or five million tourists should be brought in every year. Unless we change that situation, the deficit we are creating year after year, the debt created by the state will just go up," Saeed said.
The minister said the completion of the Velana International development project will solve the complaints of the tourism industry, airline and cargo industries and create vast opportunities for the development of a large transit market.
"This project will allow for cheaper fuel prices. This project will allow for cargo to be multiplied. This project will undoubtedly multiply the opportunity to strengthen and expand a visitor-based economy," he said.
The government plans to increase the number of passengers at Velana International Airport from seven million to 25 million annually. A jet terminal will be developed and the seaplane terminal and services will be established at an international financial center in Funadhoo.
