Tourism Land Rent Surpasses Expectations in 2024

Government revenue from tourism land rent in the Maldives reached USD 116.75 million in 2024, a 6.7 percent rise compared to 2023, according to the Maldives Inland Revenue Authority (MIRA). The amount exceeded MIRA’s projected income of USD 110.25 million by 7.4 percent.

MIRA’s 2024 Annual Report attributes the increase to strong compliance among resorts and the addition of new lease-paying entities. Payments were also collected for more lease periods than before, boosting total revenue.

Tourism land rent was the third largest source of income for MIRA last year. Kaafu Atoll led the way with USD 35.17 million, followed by Raa Atoll at USD 16.88 million and Baa Atoll at USD 13.03 million.
The stronger-than-expected income highlights the ongoing importance of resort lease payments to the national budget and reflects steady performance in the tourism sector.