BACKGROUND
The Maldives is an extremely remote collection of 1,000 small islands in the Indian Ocean. The economy in the Maldives is heavily reliant on the tourism industry and is home to a number of vacation spots for high-income tourists. The tourism industry slowdown has severely impacted the income and job security of Maldivians, one in five have lost jobs and many more are indirectly impacted. The World Bank has provided 12.8 million to income allowance programs to support Maldivians whose income has fallen below US$320 per month.
ECONOMIC INDICATORS
- 2019 GDP annual growth rate*: 5.7%
- Projected 2020 GDP*: -18.6%
- Projected 2020 inflation*: 0.4%
- Rural population distribution**: 59.3%
- Poverty rate**: 15%
COVID-19 UPDATES
As of 12/10/2020
- Total confirmed cases: 13,213
- Total deaths: 47
- New cases in the last week: 202
Source: Johns Hopkins Corona Virus Resource Center
SOCIO-DEMOGRAPHICS
- Total population***: 530,953
- Age distribution**: Middle aged (Median age: 30)
- Gender ratio**: 1.13 males/females
- Mortality rate***: 4.1/1,000
- Official language**: Dhivehi
- # of ethnolinguistic groups**: 4
PROJECT OUTCOMES
- Remained in the exploratory stage
* Source: International Monetary Fund
** Source: CIA Factbook
*** Source: World Bank