The Maldives has recorded a positive expansion in employment across its main economic sectors during the final quarter of last year, reflecting sustained business confidence and steady economic momentum, according to findings released by the Maldives Monetary Authority. The central bank’s Quarterly Business Survey Report, based on responses from 113 high-performing businesses across four major industries, indicates that companies expanded their workforces in tourism, construction, wholesale and retail trade, and transportation and communication services, with no sector reporting an overall decline in employment during the period.
The tourism sector emerged as the strongest contributor to job creation, supported by peak season activity and increased revenues across resorts, hotels, and related service providers. The employment index for tourism rose from 56 points to 57 points, accompanied by higher employee salary expenditure, underscoring the sector’s continued role as the country’s largest employer. The MMA expects tourism to maintain this leading position in the first quarter of this year, driven by robust international demand and the Maldives’ enduring appeal as a premium global travel destination offering world-class resorts, exceptional service standards, and diverse leisure experiences.
Employment growth was also recorded in the wholesale and retail trade sector, where the employment index rose sharply from 46 points to 69 points. This improvement occurred despite a decline in overall business activity during the quarter, suggesting that businesses are positioning themselves for anticipated demand and future expansion. Increased staff-related expenditure further signals confidence in the sector’s outlook, with the central bank forecasting positive business performance in the first quarter of this year.
The construction sector, which represents the second-largest share of the Maldivian economy, also posted gains, with the employment index increasing from 29 points to 36 points. Although staff expenditure declined slightly, it remained broadly stable, indicating steady workforce levels. The MMA attributed the rise in hiring to an uptick in construction projects during the quarter and expects this momentum to continue in the current quarter as infrastructure development and private sector investments progress.
In transportation and communication services, recruitment levels showed no significant change, with the employment index standing at 14 points. However, the absence of job losses and the increase in expenditure per employee point to stable conditions within the sector. A positive outlook has been projected for the year, supported by growing connectivity needs and expanding service networks.
Overall, the Quarterly Business Survey reflects broad-based growth across key industries, with businesses in multiple sectors anticipating positive results in the current quarter. The MMA’s findings highlight a resilient labor market and reinforce the Maldives’ position as an economy driven by dynamic tourism activity, ongoing development projects, and strengthening domestic commerce, offering encouraging prospects for investors, businesses, and the workforce alike.
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