Economy of Maldives

Beginning in the 1990s, the Port of Male received over £10 million in loans from the Asian Development Bank designated for infrastructure upgraded.The ADB notes that from 1991 to 2011, due to the loans, the ports annual throughput in freight tons equaled 273,000. By 2011 that number reached 1 million.The ADB also provided training for port authority staff to increase efficiency. ADB and the Government of Maldives, in a joint report address ship turn-around, "What used to take about 10 days in 1991 was achieved in 3.8 days by 1997, and about 2.6 days by 2014".

Tourism is the largest economic industry in the Maldives, as it plays an important role in earning foreign exchange revenues and employing 25,000 people in the tertiary sector of the country. The archipelago of the Maldives is the main source of attraction to many tourists visiting the island country. Chinese entrepreneurs have been swiftly amassing assets connected to the tourism sector in the Maldives. Given that tourism is the primary economic driver in the Maldives, this trend is affording the Chinese substantial influence over the nation's economy.The tourism industry is especially vulnerable to climate change: as one of the island nations expected to be most impacted by climate change, sea level rise and subsequent increased extreme weather, coastal flooding, and coral bleaching damage the natural attractions that bring many of the tourists to the country. During the tenure of former President Yameen, the Maldives' indebtedness to China escalated to an amount equivalent to one-fifth of the nation's GDP. Concurrently, China assumed a pivotal role in the tourism sector, a crucial component of the Maldivian economy.

The fishing industry in the Maldives is the island's second main industry. According to national tradition in the words of former President Maumoon Abdul Gayoom, "Fishing is the lifeblood of our nation, it is inborn. From the soil on which we live, to the sea around us, it remains an integral part of our existence. Fishing, and our country and its people, one and shall remain inseparable forever."The Maldives has an abundance of aquatic life and species of fish. Common are tuna, groupers, dolphin fish, barracuda, rainbow runner, trevally and squirrelfish and many more. Aside from being of essential importance to the economy, fishing is also a popular recreational activity in the Maldives, not only among locals but by tourists. The islands have numerous fishing resorts which cater for these activities.