Top 10 most expensive mistakes by Maldives that can cause it to be next Sri Lanka

Top 10 most expensive mistakes by Maldives

Top 10 most expensive mistakes by Maldives: An island nation Maldives facing a huge economic loss. The situation arrived after the political tension between India and Maldives. There was a time when India was at top highest position in the tourism sector of Maldives, however, in 2024 India slipped to sixth position.

According to the Maldives Tourism Ministery, over 17 lakh tourists visited Maldives in 2023, and out of 17 lakh tourists 2,09,198 tourists were from India. The second and third positions were occupied by Russia (2,09,146 visitors) and China (1,87,118 visitors).

Let’s know the reason why this huge number of tourists from India declined to the sixth position. Here we will know the reason why Maldives is facing economic problems in the top 10 points.

Top 10 most expensive mistakes by Maldives

1. Derogatory Comments by Maldivian Ministers

The relationship between Maldives and India was strong enough to increase Indian visitors to Maldives. However, the visit of PM Narendra Modi to Lakshadweep was not liked by some of the Maldivian Ministers as they thought PM Modi was comparing Lakshadweep to Maldives.

Seeing PM Modi’s pictures at Lakshadweep’s visit Minister Mariyam Shiuna made derogatory comments about PM Modi and said Clown and Puppet of Israel. This comment led Indians to a social media war between India and Maldives resulting in Indians canceling their visit list to Maldives.

2. The action was not taken by the Maldivian government

When the Maldivian Minister made derogatory comments about Prime Minister Modi, the Muizzu government didn’t take any strict action against the ministers who poked Indians. Maldivian government took a break before taking any harsh action against their ministers. If Mohammed Muizzu spoke himself about the situation that was created by the ministers then the situation could be positive in 2024 and the Maldives was in a situation of bankruptcy.

3. China’s Financial Support in the Form of Debt

Till now China has provided over $3 billion in debt to Maldives. It can have two perspectives one is that China is helping Maldives and another is that China wants to drown Maldives in debt and influence Maldive’s political decision-making just like China did to Sri Lanka. This influence over the Maldives will help China to compete with India.

4. Considering India its Enemy

Mohammed Muizzu’s government is highly dependent on China and neglects India’s strong relationship with Maldives. However, Maldives and its past government had good relations with India and Maldivian citizens love India. But, the main factor is that China has invested more and promised to invest more capital in Maldives which India can’t compete with the Chinese investment, this is why the Muizzu government showing excessive interest towards China and this excessive interest and faith towards China and this excessive debt might cause huge problems for Maldives in future.

5. Breaking up With India

Since Mohammed Muizzu’s government came into power Maldive’s relations with India have not been as good as it was earlier. Neglecting India’s preference in the development of Maldives will not be that easy. Since Indians were the top contributor to the tourism industry of Maldives. If Maldives break up with India then Maldives could see huge economic loss in the next few years.

6. Not Showing Faith in India

Though Maldives believes more towards China it should have not left India’s hands since India is as important as China in developing and boosting the economy of Maldives. Maldives should behave neutrally in this case while choosing one nation for its development and should have opted for both countries to increase their tourism as well as infrastructure.

7. Not Accepting Mistake

Still, there is a time the Maldives can apologize to India for the mistake they have made. Maldives should start to build a more strong relationship with India. If Maldives accept its mistakes and come together then Maldives can overcome its debt with the help of India. Recently, news was spread all over the internet that the International Monetary Fund (IMF) declared Maldives bankrupt. However, the bankruptcy news was denied by the Economic Affairs Minister Mohammed Saeed.

8. Huge Debt From China

According to the reports Maldives have taken a loan of 3 billion dollars from China. Which is not good for a small nation like Maldives. If Maldives doesn’t want a crisis in the country then the nation has to learn from the mistakes of Sri Lanka. IMF already warned Maldives not to take any loans from anywhere.

9. Mohammed Muizzu as a President

One of the Top 10 most expensive mistakes by the Maldives is choosing Mohammed Muizzu as the president of Maldives. Mohamed Muizzu should avoid making a big and powerful country like India an enemy. Mohammed Muizzu should be more neutral towards India and China.

10. Relying On China

Last but not least, one of the Top 10 most expensive mistakes by Maldives is relying on China. Maldives should learn from Sri Lanka’s mistakes. China provided a huge amount of debt to Sri Lanka and in the end what happened! Sri Lanka’s economy collapsed. The same situation could be faced by Maldives in the future if Maldives doesn’t ignore or repay China’s debt.

Conclusion

If Maldives wants to overcome bankruptcy or improve its Economy and tourism industry then Maldives have to make a wise decision. Maldives is one of the few countries that fully rely on the tourism sector. A small island nation like Maldives should not make any enemies, it should be friends with every nation, especially its neighboring nations like India. India earlier helped Maldives in many fields if Maldives makes everything right with India then it will be a big win for Maldives.

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