Wednesday, November 10, 2021
With the Maldives witnessing the 1,000,000th tourist of the year, and the 100,000th in Octoberin the midst of the receding global pandemic, international rating agency, Fitch, has upgraded the Maldives’ long-term currency defaulter ranking to ‘B-’ from ‘ccc’.
Besides this, the annual tourist season is just beginning and will go on till April, which means that the nation’s tourism-centric economy is expected to see slow but steady recovery quite soon.
In the Maldives, tourist arrivals have rebounded abruptly to around 70 percent of pre-pandemic levels with the number of bed nights recovering even faster, as tourists on an average, tend to stay around three days longer than before.
Fitch, however, warned against an anticipated outbreak of a third wave of COVID-19 and also substantial competition from other global tourist destinations, which are also on the road to recovery.
Tags: Maldives tourism
