The tourism industry saw an increase in jobs in the last quarter of 2023, the Monetary Authority of Maldives (MMA) said in its latest Quarterly Business Survey Report.
The central bank’s report follows a survey of major businesses, on the current state of the economy and expected changes in the coming quarters, in four key sectors of the economy; tourism, construction, transport and communications, and wholesale and retail industries.
According to the MMA report, tourism grew in the fourth quarter (Q4) of last year, with the arrival of the peak tourist season. This led to an increase in resort bookings and revenue.
Tourism sector job opportunities thus also grew in Q4 of last year. As per the report, the employment index increased from 13 points to 60 points. In addition, tourism salaries also increased in the Q4.
Job opportunities in the construction, transport and communications sectors did not increase in Q4 of last year with employment in the wholesale sector declining — Maldives’ main industries grew in Q4 of 2023 except in construction and wholesale trade, the report said.
The Business Survey has been in publication since 2013 and is published every quarter. MMA’s objective, with the reports, is to assist in policy formulation by identifying future and current changes in the economy in the short term.
