The Maldives Marketing and Public Relations Corporation (MMPRC) has announced a remarkable financial turnaround at its Annual General Meeting held on 15th July 2024, revealing a net profit of MVR 27.5 million for the first time in four years. This significant achievement, following a loss of MVR 18 million in 2023, signals a major shift in MMPRC’s operational and fiscal strategies, showcasing its commitment to prudent financial management and strategic reform.
Under new reforms, MMPRC successfully cut recurrent operational expenses by over 10%, strengthened oversight, and aligned closer with government and industry directives. A key highlight of these changes was a comprehensive audit of global public relations partnerships, leading to a reduction from 21 agencies to just six — a move that saved over MVR 4 million. Additionally, MMPRC overhauled its international trade show and exhibition strategy, trimming the marketing budget share from 80% to 34% and saving an average of MVR 2 million per event, without compromising global presence or industry engagement.
The corporation also expanded its destination marketing efforts, now running more than 21 active global campaigns. Notably, new co-investment partnerships with leading international tour operators and airlines, valued at over MVR 10 million, have reinforced Maldives’ competitiveness on the world stage through dollar-to-dollar matching initiatives.
These reforms are already bearing fruit in the tourism sector. All of Maldives’ top ten source markets have recorded positive growth compared to the previous year. India, in particular, rebounded strongly from a 39% decline in 2023 to achieve a 4% increase this year. Other critical markets including Russia, the UK, and China have also demonstrated record interest. According to Google Trends data, searches for the Maldives surged by an astonishing 1000% across Europe and Asia, highlighting the effectiveness of MMPRC’s new marketing strategies.
During the AGM, MMPRC leadership reaffirmed its commitment to operating as a modern, data-driven, and results-oriented organization, with a focus on transparency and industry collaboration. The corporation emphasized that this return to profitability is not just a financial milestone, but a testament to its revitalized role in advancing the Maldives’ vital tourism sector and supporting the broader national economy.
This landmark year sets a strong foundation for MMPRC to continue positioning the Maldives as a leading global travel destination, while ensuring sustainable value for stakeholders and the Maldivian people.
