Maldives: 52 Years of Transformation into Asia’s Wealthiest Per Capita Nation 📈

• Overall Economic Strength: The Maldives has achieved the highest GDP per capita in Asia at US$ 13,216, significantly outpacing Sri Lanka’s US$ 4,516. With a 2023 nominal GDP of US$ 6.59 Bn and a population of 530,000, the nation demonstrates exceptional purchasing power. • Tourism & Sector Breakdown: The industry has grown from zero in 1972 to a global luxury hub featuring: • 168 resorts, 883 guesthouses, and 152 safari boats. • High-end villas reaching US$ 75,000 per night. • Significant Sri Lankan investment: Cinnamon Hotels (4 resorts) and Aitken Spence (5 resorts). • Sri Lanka–Maldives Economic Link: • Employment: Over 21,000 Sri Lankans work in the Maldives. • Remittances: Sri Lanka receives US$ 129 Mn annually, making the Maldives its 9th largest source of foreign income. • Trade: Sri Lanka’s market share has dipped to 3.72% due to competition from China and India. Primary exports include fruits, vegetables, and garments. • Social & Infrastructure Milestones: • 100% coverage for electricity, water, and medical facilities across inhabited islands. • Global firsts: Generational smoking ban (starting Nov 2025) and free eyewear for all citizens. • Universal free health insurance (Aasandha) costing the state US$ 270 Mn annually. Based on provisional 2023/24 data.