In a major policy announcement aimed at reshaping the tourism economy, President Dr Mohamed Muizzu has revealed plans to develop at least 10 new state-owned resorts across the Maldives. The ambitious project envisions every Maldivian citizen becoming a direct shareholder in these resorts, with profits to be distributed among the public.
The announcement marks one of the most significant economic initiatives of Muizzu’s presidency, designed to give ordinary Maldivians a greater stake in the country’s most profitable industry.
Details of the Landmark Project
President Muizzu stated that the government will establish a new state-owned enterprise dedicated to developing and operating these resorts. The proposed model is unique: profits generated from the resorts will be shared directly with Maldivian citizens. The President suggested that each citizen could potentially receive around **USD 400 annually** once the resorts become fully operational, with distributions expected to begin from 2030 onwards.
“Every Maldivian will own a part of these resorts,” the President said during his address. “This is not just about building hotels — this is about giving ownership of our most valuable economic resource back to the people.”
The government aims to identify suitable lagoon and island locations in various atolls for the new developments. Emphasis will be placed on sustainable and high-end tourism concepts to ensure long-term environmental protection and premium market positioning.
Strategic Objectives Behind the Initiative
According to government sources, the project has multiple strategic goals. First, it seeks to reduce the heavy dependence on private foreign investors who currently dominate the resort industry. Second, it aims to generate a sustainable and direct source of income for citizens. Third, it is expected to create thousands of new jobs and stimulate economic activity in underdeveloped atolls.
Industry analysts note that while the Maldives already has over 180 operational resorts, the majority are leased to private companies, many of them foreign-owned. The new state-owned model represents a shift toward greater national control over tourism revenue streams.
The President highlighted that revenue from these resorts would help fund national development programmes, including housing, healthcare, and education initiatives. He also assured that environmental impact assessments and sustainable practices would be central to every stage of planning and construction.
Timeline and Implementation
The government has indicated that planning and preparatory work will begin immediately. Construction of the first few resorts is expected to start within the next 18 to 24 months, with a phased approach to complete all 10 properties by 2030.
Financing for the project is expected to come from a mix of government funds, development partners, and potentially sovereign-backed loans. The administration is also exploring public-private partnership models where the state retains majority ownership while benefiting from private sector expertise in resort management.
President Muizzu has instructed relevant ministries to fast-track necessary regulatory approvals and environmental clearances to ensure the project stays on schedule.
Public and Industry Reactions
The announcement has generated mixed reactions across the country. Many citizens have welcomed the idea of direct ownership and future dividend payments, seeing it as a practical step toward fulfilling the government’s “Maldives First” vision.
However, some economists and tourism experts have raised important questions. They point out the massive capital investment required and the risks involved in state-run commercial enterprises. Concerns have also been voiced about potential inefficiencies, political interference, and the environmental burden of developing additional resorts.
The Maldives Association of Travel Agents and Tour Operators (MATATO) has called for detailed feasibility studies and a clear regulatory framework to ensure the new state-owned resorts do not create unfair competition with existing private operators.
Broader Economic Context
This bold initiative comes at a time when the Maldives tourism sector is under significant pressure due to the Middle East conflict. With tourist arrivals declining and industry losses mounting, the government appears determined to take proactive steps to secure long-term economic benefits for citizens.
The project also aligns with President Muizzu’s repeated emphasis on economic sovereignty and reducing reliance on foreign lease arrangements. If successfully implemented, it could fundamentally transform how tourism revenue is distributed in the Maldives.
Opposition parties have urged caution, requesting full transparency regarding project financing, environmental safeguards, and governance structures to prevent mismanagement of public resources.
Looking Ahead
As the government begins detailed planning, many Maldivians are watching closely to see how this ambitious vision will be executed. The success of the 10 state-owned resorts project could play a defining role in shaping the country’s economic future for decades to come.
President Muizzu has promised to provide regular updates on the progress of the initiative. The coming months are expected to bring more clarity on location selection, investment models, and the legal framework for citizen shareholding.
For now, the announcement has injected fresh optimism among many citizens even as the tourism industry grapples with immediate challenges. Whether this long-term vision can deliver tangible benefits while navigating short-term economic headwinds remains one of the most important questions facing the Maldives today.
The project represents a significant shift in the country’s tourism development strategy — moving from a largely privatized model toward one that seeks greater public ownership and benefit sharing.
