Resorts in Noonu Atoll recorded the highest average revenue in the Maldives in 2024, according to statistics released by the Maldives Inland Revenue Authority (MIRA).
Data published in MIRA’s Sales and Bed Nights Reported from the Resort Sector at Atoll Level from 2016 to 2024 show resorts in Noonu Atoll earned an average of $59.3 million during the year, placing the atoll clearly ahead of others in terms of revenue per resort. The figures are based on Tourism Goods and Services Tax paid by resorts.
The report shows total resort revenue nationwide reached $5.1 billion in 2024, an increase of $634 million compared with 2023. Records show this is the first time annual tourism revenue has exceeded $5 billion. The previous highest year was 2022, when resorts generated $4.9 billion.
Although the MIRA report does not disclose revenue figures for individual resorts, average earnings per resort were calculated at atoll level. After Noonu Atoll, average revenue per resort stood at $35.7 million in Dhaalu Atoll, $33.8 million in Kaafu Atoll, $30.3 million in Raa Atoll, $28.1 million in Lhaviyani Atoll and $27.2 million in Baa Atoll. Haa Alifu Atoll followed with an average of $26.5 million, while Alifu Dhaalu and Alifu Alifu atolls recorded averages of $23.6 million and $19.2 million, respectively. Average revenue per resort in Gaafu Dhaalu Atoll was $17.3 million. In Faafu, Haa Dhaalu, Laamu, Meemu, Seenu, Shaviyani and Thaa atolls, as well as Vaavu Atoll, the figure was $13.9 million, while Gaafu Alifu Atoll recorded $13.7 million.
Eight resorts are currently in operation in Noonu Atoll, with combined revenue of $475 million in 2024. This total exceeds earnings in several atolls with a larger number of resorts.
In terms of total revenue, Kaafu Atoll remained the top-earning atoll nationwide. A total of 58 resorts in Kaafu Atoll generated $1.9 billion during the year, with an average revenue per resort of $33.8 million.
Nationwide, the average revenue per resort in 2024 was $28.8 million. In atolls with a smaller number of resorts, the average annual revenue was closer to $20 million, according to the MIRA data.