Tourism pioneer Hussain Afeef (Champa Afeef) said last night that the government's plan to develop 10 resorts with public shareholding will transform the tourism industry.
Speaking at a ceremony held to mark National Tourism Day, Afeef highlighted the initiatives that have historically revolutionised the sector, listing the proposed public-share resorts as a major upcoming shift.
Welcoming the government’s plan, Afeef noted that these resorts would mark another milestone for the industry. Describing the project as a means to directly extend the benefits of tourism to the general public, he expressed his well wishes for the government to successfully realise this vision.
"We are all waiting for it, and I wish for its success," Afeef said. "This is a way for the people to have a stake in tourism. It allows the general public to become partners in the industry."
While one of the country’s leading tourism moguls has endorsed the project, other industry stakeholders and opposition figures have raised questions regarding the policy. They voiced concerns over the financing of these developments and the overall feasibility of the operational model.
Despite these criticisms, the government remains committed to the project. In his most recent update, President Mohamed Muizzu said last month that work on some of the ten resorts is expected to commence as early as next month.
According to Muizzu, the government was in the process of finalising the locations for the developments. While he indicated that this selection process would be completed within that same week, the government has yet to provide further updates, leaving it unclear whether the sites have been finalised.
The President also took the opportunity to respond to those skeptical of the initiative.
"I am mentioning that this project is moving forward at speed to demonstrate that this was not just a sentence I included in the Presidential Address," Muizzu said.
Industry estimates suggest that the cost of developing a single resort room ranges from $400,000 to $900,000 for four-star properties, while luxury developments can cost between $1.4 million and $2.6 million per room.
Based on these figures, developing 1,000 beds—assuming 50 rooms per resort—could require an investment ranging from $400 million to $2.6 billion, depending on the standard of the resorts.
Muizzu has pledged to complete the development of these resorts within 36 months. Under this timeline, the earliest these properties would be operational is 2029.
