The Maldives presents a unique business environment with a heavy reliance on tourism and fisheries for livelihoods. The difficulty in finding skilled labor, with over 50% of the workforce consisting of expatriates, is a significant challenge for businesses in the country. While the Maldives is considered among the world’s top holiday destinations, it is also becoming a hotbed for startups and entrepreneurs. The country’s less-than-progressive attitude towards women seeking employment and the quality of the workforce are additional challenges. However, the Maldives is also becoming a hotbed for startups and entrepreneurs, with the archipelago becoming an attractive destination for regional and global businesses.
The Maldives has been actively working to diversify its economy beyond tourism, with a focus on expanding the fisheries and establishing a decentralized network to provide public services. The country has also been leading by example in addressing the challenges posed by climate change, with a focus on low carbon growth, environmentally sustainable and resilient smart health-care services, and sustainable transport, wastewater, and sanitation. The Maldives has also been working on initiatives to reduce pesticide use, enhance public knowledge and awareness about the use of organic products, and improve mental, physical, and social well-being and quality of life through the development of green spaces.
The Maldives’ heavy reliance on tourism and limited sectoral diversification, combined with the increasing challenges posed by climate change, have made sustainable development and environmental concerns central to the country’s growth narrative. While the tourism industry is vital to the economy, the country has been actively working on sustainability initiatives to minimize its impact on the environment. The Maldives has also been leading by example in addressing the challenges posed by climate change, with a focus on low carbon growth, environmentally sustainable and resilient services, and sustainable transport, wastewater, and sanitation.
The Maldives’ heavy reliance on tourism and limited sectoral diversification, combined with the increasing challenges posed by climate change, have made sustainable development and environmental concerns central to the country’s growth narrative. While the tourism industry is vital to the economy, the country has been actively working on sustainability initiatives to minimize its impact on the environment. The Maldives has also been leading by example in addressing the challenges posed by climate change, with a focus on low carbon growth, environmentally sustainable and resilient services, and sustainable transport, wastewater, and sanitation.