The latest figures from the Maldives Inland Revenue Authority (MIRA) reflect a strong surge in national revenue, driven primarily by robust performance in the tourism sector. In May 2025, MIRA collected a total of USD 141 million in revenue, marking a 30.5% increase compared to the same month last year and exceeding projections by 7.3%. The performance underscores the continued economic contribution of tourism to the Maldives, particularly as visitor arrivals remain strong even during off-peak months.
A key factor in this revenue growth is the rise in Tourism Goods and Services Tax (TGST) and Green Tax collections. Tourist arrivals in May increased by 4.8% compared to May 2024, contributing to stronger inflows from the sector. The implementation of revised Green Tax rates from January 2025, coupled with the increased Airport Tax and fee adjustments introduced in December 2024, also played a role in driving up revenue.
MIRA highlighted that the actual revenue exceeded forecasted figures largely due to the higher-than-anticipated number of tourist arrivals. Additionally, some tourism developers paid Corporate Social Responsibility (CSR) fees in May to extend the permitted development period on land allocated for resort construction. These payments added to the month’s revenue totals.
In terms of revenue composition, Goods and Services Tax (GST) remained the largest source, contributing USD 88.2 million, accounting for 62.5% of total collections. Green Tax generated USD 13.2 million, reflecting its expanding role in the country’s environmental financing. Airport Development Fees and Departure Tax followed with USD 10.8 million and USD 10.7 million respectively, while Income Tax collections totaled USD 8.6 million. Work Permit Fees added another USD 4.1 million to the national revenue.
MIRA also reported that USD 104.74 million of the total May revenue was received in United States Dollars, reinforcing the importance of foreign currency earnings for the Maldives’ fiscal health.
For Middle Eastern tourists and investors considering travel or ventures in the Maldives, these figures are not just economic indicators, they are a testament to the country’s enduring appeal, stable fiscal policies, and growing infrastructure supported by consistent tourism revenue. The Maldives continues to offer a reliable investment climate and premium travel experience, enhanced by its commitment to sustainable tourism and environmental conservation through mechanisms like the Green Tax.
As the Maldives strengthens its fiscal footing with increased earnings from tourism-related taxes and fees, the country remains a top-tier destination for travelers seeking pristine natural beauty and for stakeholders seeking long-term returns in a well-managed island economy.
