The Maldivian economy grew strongly in the recent past, with real GDP growth averaging 7.3% over the past three years. This robust performance is expected to be sustained with growth forecasts indicating an average growth of 7.0% over the period 2019 – 2021.
The Maldives is an island nation, surrounded by the ocean. The economy, and well-being of the country is tied to the health and wealth of the natural environment, and primarily the ocean, which accounts for approximately 99% of Maldivian territory.
The Maldives has huge potential that is yet to be fully realised – a rapidly expanding economy, a demographic dividend with educated young people, improving infrastructure and institutions, and growing physical and digital connectivity.
The Maldives is a young democracy attempting to build on considerable economic and human development gains, while simultaneously countering challenges posed by deep socio-economic, environmental and political issues.
The Maldives, like most other small island states, heavily relies on private sector investments as a means for economic development. The country has made tremendous strides economically, graduating from a least developed economy to a middle-income country in 2011.
The Maldives is, by many measures, a development success story.
At the time of its independence in 1965, the Maldives was an under-developed country. Today, fifty-three years later, it is an upper middle-income country, with high economic, social and human development indicators. The per-capita gross national income doubled over the past ten years from $4460 in 2007 to $9760 in 2017 . The Human Development Index ranking of Maldives has increased steadily, from 0.539 in 1995, to 0.717 in 2017 an increase of 33%, ranking it 101 out of 189 countries and territories .
The meeting will take place in Bouganvilla Conference Hall at Kurumba Maldives Resort, which is 15 minutes by speed boat from Male’.
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