Visit Maldives Corporation Limited (formerly Maldives Marketing and Public Relations Corporation, MMPRC) has announced its first profitable year since 2020, marking a major shift in the nation’s tourism promotion strategy. During its Annual General Meeting (AGM) held on 15th July 2025, the state-owned company revealed a net profit of MVR 27.5 million (USD 1.8 million) for the financial year 2024, compared to a loss of MVR 18 million (USD 1.2 million) in the previous year.
This financial turnaround follows a series of strategic reforms that have reshaped the corporation’s operational and marketing approaches. The organization reported a 10% reduction in recurrent expenses, in line with fiscal reforms introduced to ensure long-term financial sustainability. These adjustments reflect an enhanced focus on cost-effectiveness, operational transparency, and alignment with national tourism policies outlined by the Government of the Maldives and guided by directives from the People’s Majlis and industry stakeholders.
Key cost-efficiency measures included a thorough performance audit of MMPRC’s international public relations network. As a result, the number of global PR agencies was streamlined from 21 to 6, saving over MVR 4 million. Furthermore, the corporation reevaluated its approach to international travel trade fairs and exhibitions, which previously consumed nearly 80% of the total marketing budget. That share has now been reduced to 34%, with an average of MVR 2 million saved per major event. Despite these budget optimizations, MMPRC has maintained robust engagement with the global travel industry and continued to enjoy high visibility at international platforms.
In 2024, over 21 international campaigns have been actively run across key source markets, reflecting the corporation’s strengthened focus on targeted destination promotion. MMPRC has shifted a significant portion of its campaigns to digital platforms, enabling a more data-driven and agile approach. Co-investment marketing partnerships with leading global tour operators and airlines are now a central part of its strategy. These joint campaigns, valued at over MVR 10 million, follow a dollar-to-dollar matching model that enhances brand visibility and market competitiveness while controlling expenditure.
Marketing revenues have also improved. Membership fees were revised, and advertising sales increased by 20%. Participation fees for roadshows and trade fairs have been adjusted, which is projected to boost total revenue by 49% for the year. Simultaneously, the corporation has implemented additional austerity measures such as minimizing warehouse rentals, lowering equipment shipping costs, reducing printed materials, and securing smaller but more strategically located stalls at exhibitions.
Tourism performance indicators suggest a positive market response to these efforts. All of the Maldives’ top ten tourist source markets have recorded year-on-year growth. India, which saw a 39% decline in 2023, rebounded with a 4% increase in arrivals this year. Russia, the United Kingdom, China, and several other major markets also reported notable growth. Supporting this trend, Google Trends data showed a 1000% spike in search volume for the Maldives across Europe and Asia, further validating the success of the current marketing strategies.
The corporation emphasized its transformation into a modern, insight-led tourism marketing body. With an intensified focus on measurable results, stakeholder collaboration, and cost-efficient operations, Visit Maldives is now better positioned to support national tourism objectives.
The rebranding of MMPRC to Visit Maldives Corporation Limited, announced by President Dr Mohamed Muizzu, reflects the government’s strategic vision for tourism sector development. This shift underscores the administration’s commitment to revitalizing tourism promotion through innovation, efficiency, and closer engagement with industry partners.
Visit Maldives Corporation continues to play a pivotal role in positioning the country as a premier global destination. As tourism remains the backbone of the Maldivian economy, the organization’s renewed financial health and strategic direction will contribute to sustainable sector growth and broader national economic resilience.
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