Expansion of economic activity in third quarter driven by tourism sector: MMA
28 Dec 2014, 6:13 PM
Expansion of domestic economic activity in the third quarter of 2014 was “driven by the sustained growth of the tourism sector,” according to the Maldives Monetary Authority’s (MMA) quarterly economic bulletin.
“Total tourist arrivals to the country increased to 299,491 in Q3-2014, growing by 7 percent when compared to the corresponding quarter of last year while bednights grew by 5 percent,” the bulletin stated.
The central bank explained that the “difference in the growth rate of arrivals and bednights is explained by the fall in the average duration of a tourist visit from 6.0 days to 5.8 days during the period.”
Tourism receipts are meanwhile projected to reach US$594.9 million in the third quarter, an annual growth of 20 percent.
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