Government revenue from tourism land rent in the Maldives rose notably in 2024, with resort lease collections reaching USD 116.75 million, a 6.7 percent increase over the previous year, according to the Maldives Inland Revenue Authority (MIRA).
The figure exceeded MIRA's projection of USD 110.25 million by 7.4 percent, underscoring stronger-than-expected contributions from one of the nation's most vital sources of state income. It also marked an identical percentage increase over the USD 110.25 million recorded in 2023.
MIRA, in its 2024 Annual Report, pointed to the initiation of lease payments by new entities and consistently high compliance among resorts as primary drivers of the elevated collections. The authority also noted that payments had been successfully secured for a greater number of lease periods, a dynamic that reinforced overall revenue growth.
Tourism land rent ranked as MIRA's third largest revenue stream last year. Kaafu Atoll contributed the most, with USD 35.17 million, followed by Raa Atoll with USD 16.88 million and Baa Atoll with USD 13.03 million.