The resorts in Noonu atoll generate an average of USD 60 million a year, according to figures released by the Maldives Inland Revenue Authority (MIRA).
MIRA releases the revenue and service tax (TGST) paid by resorts in the "Sales and Bed Nights Reported from the Resort Sector at Atoll Level from 2016-2024" report.
According to the report, resorts earned USD 5.1 billion (MVR 79.2 billion) in 2024. This is an increase of USD 634 million over the previous year.
Records show that it was the first year the tourism industry was able to generate more than USD 5 billion in revenue. The previous record was in 2022 with USD 4.9 billion.
Although the report does not reveal the amount of revenue generated by individual resorts, the average revenue per resort can be calculated based on the number of resorts in each atoll.
With a large margin, Noonu atoll was at the top of the list.
Average Resort Revenue (2024)
- Noonu atoll - $59.3 million
- Dhaalu atoll - $35.7 million
- Kaafu atoll - $33.8 million
- Raa atoll - $30.3 million
- Lhaviyani atoll - $28.1 million
- Baa atoll - $27.2 million
- Haa Alif atoll - $26.5 million
- Alif Dhaal atoll - $23.6 million
- Alif Alif atoll - $19.2 million
- Gaaf Dhaal atoll - $17.3 million
- Faafu, Haa Dhaal, Laamu, Meemu, Seenu, Shaviyani and Thaa atolls - $13.9 million
- Vaavu atoll - $13.9 million
- Gaaf Alif atoll - $13.7 million
There are eight resorts operating in Noonu atoll and their combined revenue in 2024 was USD 475 million. This is higher than some atolls with more resorts.
The highest revenue in terms of total revenue was earned in Kaafu atoll, which also has the highest number of resorts.
The 58 resorts in Kaafu atoll generated USD 1.9 billion in revenue. The average revenue per resort is USD 33.8 million.
Nationwide, the average revenue per resort is USD 28.8 million. However, the average in the atolls with fewer resorts is less than USD 20 million per year. The average revenue for a bednight is USD 439.
