The Insurance Industry in Maldives, Key Trends and Opportunities to 2018

Date: 2015-09

Maldives has a small insurance industry, serving a population of 393,988 in 2013. In the early 1980s, the country was among the worldโ€™s 20 poorest countries. However, as a result of rapid growth in tourism and fishing, the country grew into a middle-income economy with an annual per capita income of MVR118,439.0 (US$7,711.0) in 2013. The Maldivian economy is driven by tourism and fishing industries. The global financial and EU sovereign debt crises had little impact on the countryโ€™s tourism industry and overall economy. Maldivian GDP grew at a compound annual growth rate (CAGR) of 4.6% during the review period (2009โ€“2013). The economy is expected to remain positive and register strong growth over the forecast period (2014โ€“2018), supported by growth in tourism and improvement in the global economy. According to the World Bank, Maldivian GDP is expected to grow at a CAGR 4.6% over the forecast period.

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample