A 2026 market research report
for the Maldives tourism
& hospitality industry
Yandex Ads commissioned this report with support from MATI and Visit Maldives Corporation
to explore how Russian-speaking travelers engage with the Maldives, and where the opportunity lies for the Maldives tourism and hospitality industries.
+18.5%
Russian arrivals growth in the first half of 2026 — one of only two major markets still growing
14%
Russia's share of total Maldives arrivals, up from ~12% in 2025
9
Aeroflot flights Moscow–Malé
a week, plus a new carrier
and a Novosibirsk
route this winter
Russia is now one of only two major source markets
still driving growth in Maldives arrivals. Maldives
Ministry of Tourism and Civil Aviation data shows
that China (+20%) and Russia (+18.5%) grew
in the first half of 2026 while every other major
market declined. Russia's share of total Maldives
arrivals grew from around 12% in 2025 to 14%
in the first half of 2026, making it the country's
second-largest inbound market after China.
That sits inside a bigger story: Russian outbound
travel overall is booming with 20 million trips
abroad in 2025 (+16% YoY), still growing in 2026,
though at a more measured pace (+8.6% H1, down
from +12.5% the year before) driven by a stronger
ruble, expanding flight networks, and rising
disposable
income. For the Maldives,
that connectivity is concrete: Aeroflot already flies
Moscow–Malé nine times
a week, a new carrier
launches direct Moscow service in December 2026,
and a new route from Novosibirsk
this winter will be
the first-ever direct connection from a Russian
region outside Moscow.
20M
Russian trips abroad in 2025 (+16%)
Still growing in 2026, though at a more measured pace, driven by a stronger ruble and expanding flight networks.
Within that boom, each destination is growing
or slowing for a different reason. Thailand (considered
by 46% of travelers in this report's survey) and Egypt (45%) are the Maldives' closest competitors, these
are real alternatives, not ones travelers price-filter out early. Vietnam and Egypt have grown fast by removing barriers: easier visas, expanded charter routes, affordable positioning. Vietnam's Russian arrivals nearly tripled in 2025 and already exceeded that record in the first half
of 2026 alone; Egypt's grew over 30%. Thailand has grown more slowly as a mature market, and is now losing share to newer rivals like Hainan. Türkiye,
for years the single biggest destination for Russian travelers, and still the largest
by volume,
is showing strain: package-tour prices there rose 9.2% year-over-year in August 2026, the highest
of any top-10 destination, and trip lengths
are shortening as travelers cut costs. Türkiye and Egypt together still account for 64% of all organized Russian trips, so the Maldives is competing against fast-growing newcomers and two enormous, increasingly cost-pressured incumbents.
64%
Of all organized Russian trips
go to Türkiye and Egypt
Two enormous, increasingly cost-pressured incumbents the Maldives is competing against — alongside fast-growing newcomers like Vietnam.
Notwithstanding this, Russians are choosing the Maldives over these cheaper, easier-access alternatives because of exclusivity and experience. Warm climate and beach lead by a wide margin. Price ranks well down the list, below service, active vacations, culture, and status, which points to a value-led choice rather than a price-led one. That's the answer this report keeps returning to: Russian-speaking demand for the Maldives has grown because Russian outbound travel overall is growing fast, and the Maldives has carved out a distinct, defensible position within that wave rather than trying to out-compete cheaper, easier-access alternatives on their own terms.
The report
is organized
to answer four
key questions:
+233%
Confirmed hotel bookings growth
in the Maldives on Yandex Travel
in the first half of 2026, showing
the growth
is continuing, not slowing.
#2
Largest source market by volume after
China is Russia. With 143k arrivals
in the first half of 2026, it was one of only two major markets still growing, up 28% from 2025.
72%
Of travelers are first-time visitors —
a discovery-led market, not a loyalty-
led one.
Understanding why they
choose first is key
to sustaining
this growth.
90%
Of Yandex search queries for holiday-
related
terms were for luxury holidays
in the first half
of 2026, up from 88%
a year earlier.
Most stays are 4–5 star
with meals;
eco hotels are the fastest-
growing type.
45%
Of Yandex Travel hotel bookings
are in Kaafu, followed by Raa (10%);
Malé shows 22% due to transit
and layover activity.
22%
A fifth of travelers use AI assistants —
mainly for budgeting (70%),
shortlisting
hotels (63%),
and analyzing reviews (63%).
This report draws on five data sources:
Yandex internal search-query data, fielded January 2025 – July 2026
A completed Yandex survey of Russian tourists
(n=419) who have visited
or are planning to visit
the Maldives within a year, fielded in July 2026
Yandex Travel booking
and accommodation data, fielded
January 2024 – August 2025
Yandex Ads internal platform data
on advertiser spend, H1 2026
Arrivals data from Maldives Ministry
of Tourism
and Civil Aviation (the data
compiled is sourced
from the Ministry
of Tourism and Civil Aviation
monthly
statistical releases; airline data is shared
with MATI by MACL, while revenue data
is sourced
from the Maldives Inland
Revenue Authority (MIRA)),
covering
January 2025 – July 2026
Bookings are growing 29× faster than searches —
a sign that more of that interest is turning
into actual trips, not just more people browsing.
752k+
Yandex search interest about Maldives travel from Russia stayed stable in the first half of 2026 versus 775k+ in 2025. It has plateaued even
as bookings kept accelerating — growth is now coming from conversion, not from more people discovering the destination.
6.2 nights
Average duration of Yandex Travel hotel bookings in the Maldives,
up from 5.9 nights in the first half
of 2025.
91%
Of Yandex search queries about
length of stay were for trips of 7+
days, with a clear seasonal spike
around the New Year and Orthodox
Christmas holiday period.
+13%
Yandex search queries for hotel-related terms increased by 13%, overtaking Tours as the largest category in the first half of 2026.
Russian users' interest in traveling to the Maldives — search queries volume
751,850
search queries in H1 2026
Maldives travel search categories, H1 2026
Hotels and Packaged tours are the most popular categories — 81% combined share of search queries. Bars compare absolute query volume in Jan–Jun 2025 against Jan–Jun 2026.
The highest YoY growth is in Flights (+15%), Hotels (+13%) and Sightseeing tours (+11%).
+233%
Increase in Yandex Travel hotel bookings in the Maldives, year-over-year, in the first half of 2026 — growth is continuing, not slowing.
+18.5%
Increase in Russian arrivals to the Maldives in the first half of 2026 from the same period in 2025: 150k trips as at end June 2026, up from 112k as at end June 2025. Russia is now the second-largest source market by volume, and one of only two major markets, along with China, still growing.
Growth in the number of bookings:
+233%
+77%
Russian arrivals didn't peak in a single season — they're a consistent monthly presence, broadly in the 16,000–28,000 range every month across both years, with a share of total arrivals
that climbed fairly steadily through 2025 before settling around 12% for the full year.
Top 10 markets
Russia was briefly the Maldives' #1 market
The Maldives' Tourism Minister, Mohamed Amin, stated publicly in August 2026 that the Maldives had received 198,748 Russian tourists year-to-date (14.7% share), and projected full-year 2026 arrivals could exceed 300,000 if the pace holds. In January 2026, Russia overtook China as the single largest source market by arrivals (27,908 vs 21,089), before settling back into second place
from February onward. This shows how close this growth has brought Russia to becoming
the Maldives' leading market.
Russian outbound travel is in the middle
of a boom.
20.1 million
Trips abroad in 2025 (+16%), with Russians spending close to $50 billion abroad, near a historic record, according to the Central Bank of Russia.
Industry analysts point to a stronger ruble, rapidly expanding direct and charter flight networks, and rising disposable income as the shared drivers. The Maldives is part of this story, but so are several of its neighbors, each via a different route. Understanding why each destination is growing helps sharpen where the Maldives' own advantage actually sits.
+197%
+742,000 arrivals
Visa-free entry, expanded air connectivity, more charter/package capacity, positioned
as
an affordable, novel alternative to Thailand. Already exceeds all of 2025 (690,000). Forecast 1M
for the year. Russia now #3 source market (behind China, South Korea). One major operator (Intourist): sales +231% YoY
+21–36%
+21% Feb–Mar 2026
Visa-free entry, expanding charter capacity, "affordable luxury" positioning. Red Sea resorts
at a lower price point than competing beach destinations. One operator (Intourist) reported +188% YoY; average spend per trip up 13% to $942; topped Russian New Year holiday preference at 32% share (vs UAE 16%, Thailand 14%)
+23.8%
+18.5%
New Moscow route launching Dec 2026 (beOnd); first-ever direct route from
a Russian region outside Moscow
(S7, Novosibirsk)
+8.8%
+1,022,483
Mature, saturated market; facing new competition
from Hainan specifically,
and a possible headwind
from reports Thailand may scale back visa-free entry
+3%
reservations +5% YoY (end May); ATOR estimate: 2.9–3M visitors June–Aug 2026
The largest existing base (6.9M trips). Headline volume is being propped up
by Istanbul specifically, much of it transit
and connecting traffic tied to Gulf airspace disruptions and regional tensions reducing direct access to the UAE, Qatar, Kuwait, Bahrain
and Iran, while genuine Antalya beach-holiday demand softens
"What we've seen through the first half
of 2026 gives us real confidence heading
into the season
ahead. Russian arrivals grew
+18.5% year-on-year in H1, and for a stretch
in January, Russia was
actually our single
largest source market, ahead of even China.
That growth has been building
steadily,
and the industry is responding to it: Aeroflot
already flies Moscow–Malé nine times
a week, a new carrier is launching direct
Moscow service this December, and we're
about to see
the first-ever direct route from
a Russian region outside Moscow. That kind
of investment doesn't
happen on a hunch.
As we head into our traditional high season,
the signs point to this being one of our
strongest
yet for Russian-speaking
travelers. We're watching that momentum
closely as we plan for 2027,
and our focus
now is making sure that growth doesn't stay
concentrated in the same handful
of atolls and hotels it has been."
The Maldives sees two distinct demand
windows: an affluent winter high season
and a more price-sensitive summer with
growing mass-affluent and middle-income
demand. Winter skews toward older
travelers; summer skews younger.
Summer's growth isn't a pull toward the
season itself, unlike winter's destination-
specific draws of beach and weather —
instead, it suggests travelers' availability is
driving the timing, meaning reassurance and
flexibility messaging matters more here
than a seasonal sell.
Russia is one of the few markets still growing in
arrivals, and that growth is now coming
from conversion rather than rising search interest.
The next question is when that demand actually
travels and whether hotels should plan for one
Russian-speaking audience per year or two.
Winter — the more popular season overall, skewing toward older travelers (67% of 55–64-year-olds)
Summer — growing mass-affluent demand,
skewing toward younger travelers
(76% of 18–24-year-olds)
This is likely a life-stage effect as much as a preference: younger travelers are more tied to fixed time off (e.g. school calendars), while older, often retired travelers can choose winter, the season with genuine destination-specific pulls like better weather and beach conditions.
Increase in Yandex Travel bookings in July 2026 compared with July 2025
Unlike winter's destination-specific pulls of beach
and weather, this July spike suggests the growth
may be
coming from travelers whose availability
is driving
the timing. Reassurance and flexibility
marketing
("come when you're free, it's still worth
it") is more important
than a seasonal sell.
Russian arrivals in October and November 2025,
according to Maldives Ministry of Tourism
and Civil Aviation Monthly Tourism Statistics
Reports
This is a strong period, on par with the July–August peak, consistent with a shift toward a more spread-out arrivals calendar.
Winter and summer travelers share the same core motivations and price sensitivity; what differs
is why now. Don't build separate campaigns for each - build one strategy with two message tracks:
experience-led for winter (the destination sells itself), reassurance-led for summer (the timing needs
selling).
"Winter has two destination-specific pulls of beach and weather, so premium formats like dedicated hospitality placements make sense there. Summer is different — it's not that those travelers are more price-driven, both groups compare prices at almost the same rate. What actually pulls summer travelers is more circumstantial, so the opportunity is reassurance: showing summer is still a great time to go, not just a cheaper one. And since price comparison happens year-round either way, transparent pricing formats like our product galleries matter in both seasons, not just the ones we'd assumed were more price-sensitive."
"This lines up with what we're seeing in our own arrival numbers. Winter used to account for well over six in ten arrivals from this market — that's narrowed to roughly half today, and in the last two years October has actually overtaken the traditional Christmas and New Year window as our busiest month. What's changed most since the pandemic is how much steadier the picture has become month to month: the gap between our busiest and quietest periods has closed noticeably compared to the sharp seasonal swings we used to see."
Monthly arrivals, all markets — 2025 and 2026 shown side by side wherever both years overlap.
The core traveler: 35–44,
traveling as a couple
Both survey and search data confirm
this is the most popular
age range and travel
style for Russian visitors to the Maldives.
Partner/spouse is the most common way to travel to the Maldives, well ahead of family (31%), friends (18%), or traveling alone (12%).
Of travelers are first-time visitors — a discovery-led market, not a loyalty-led one. Marketing spend converts better aimed at first-time considerers than at winning back guests.
Of travelers book a package tour, the most common way to book a Maldives trip.
Most common trip length, driven mainly by annual-
leave limits rather than preference.
Most common trip budget
band
per traveler
Most travelers
keep researching
after booking
Most travelers do at least some independent research before or alongside booking — real headroom for hotels to capture demand directly (hotel website, OTAs, direct search) alongside tour-operator relationships.
With 72% visiting for the first time, marketing should prioritize winning new audiences over retargeting past guests.
Booking demand is highest in Kaafu
and Raa, but travelers also show real,
sustained interest in Baa, Lhaviyani, South
Ari and others, and rarely lose that interest
between researching an atoll
and booking
one. Because travelers pick the atoll before
the hotel, the opportunity is atoll-level
positioning and product for the regions
beyond the current top two, with
sustainability-first properties (+68%,
the fastest-growing accommodation type)
a concrete lever to lead with.
Having established who is traveling, the next question is where they actually go once they arrive,
and whether the concentration flagged in the arrivals data of a growing market, converting narrowly, shows up here too.
Of travelers choose the atoll first, not the hotel, compared with only 36% who start with a specific hotel in mind. This lines up with two other findings: reviews are the single biggest swing factor in final hotel choice, and many travelers keep researching independently even after booking a package tour.
Of Yandex Travel hotel bookings are in Kaafu,
followed
by Raa (10%). Malé also shows 22%,
due to transit
and layover activity around
the airport hub.
+68% growth in
eco hotel interest
Well ahead of hotels overall (+13%) and Tours, which are declining (-19%), according to Yandex data. Hotels and DMCs with a credible sustainability story have room to lead a fast-growing niche before it becomes mainstream positioning.
Almost half of travelers considered each, and about a third visited or plan to visit them.
Considered Thailand as a competing destination.
Considered Egypt as a competing destination.
Of Russian-speaking searchers interested in the Maldives also searched for Türkiye, according to Yandex data. Türkiye
is a cheaper, more accessible destination with established package-tour infrastructure and extensive direct flights, likely drawing in price-sensitive searchers who explore it alongside the Maldives early on, then self-select out once budget becomes the deciding factor.
"What's encouraging in the survey findings is that interest isn't limited to the two or three atolls where most bookings currently land. This genuine interest gives us an opportunity to better promote the unique character and beauty of each atoll — no two are exactly alike,
and it's encouraging to see that recognised in growing interest across the Maldives."
Why the funnel narrows the way
it does
Search — still does the early discovery work, across an average of 7 Yandex services
Yandex ecosystem — Maps, GO, Market and Travel catch travelers mid-journey, not just mid-search
Tour operators — organized
package-tour sales grew 25–30% in 2025,
outpacing the market
AI assistants — real for a fifth of travelers, mostly for budgeting and shortlisting
90%
of Yandex search queries for holiday-
related terms were for luxury holidays
in the first half of 2026, up from 88%
a year earlier.
Luxury vs. affordable holiday search queries
In the first half of 2026,
63% of queries are related
to 5-star hotels
YoY user interest increased across all categories
This corroborates the regional picture: organized package-tour sales among Russian travelers grew
25–30% in 2025, outpacing the overall outbound travel market. Tour-operator relationships are a strategic channel across the region right now, not just for the Maldives.
98%
Of the audience visited at least one Yandex service —
this audience moves through the ecosystem, not just
Search.
70%
Of users used AI to calculate a budget — the top use case in our survey.
Share of audience who visited each Yandex service, ranked
Retarget across
the ecosystem
This audience moves through Maps, GO,
Market
and Travel before they ever reach a
hotel's website -
a Search-only media plan
misses most of that journey.
Use retargeting
to follow that signal across services,
and split
the message by where someone actually is:
a
premium push for the 63% of hotel searchers
already
looking at 5-star properties, a more
considered,
comparison-friendly nudge for
everyone else.
"What stands out to us is that this decision
journey rarely starts and ends with a single
search.
Someone interested in the Maldives
is active across an average of seven
different Yandex services
from Maps, to GO
(our ride-hailing and mobility app), to Travel
(our booking platform for flights,
hotels and
tours). That's exactly why we built Yandex
Travel, which lets a hotel be discovered
and
booked in the same place a traveler is
already planning their trip, and why our
Geoservices
formats (banners and route
branding on Maps and Navigator, our map
and navigation apps) let
a hotel reach
someone while they're actively mid-journey,
not just mid-search."
Warm climate and beach are the main reasons travelers are choosing the Maldives, but price ranks below choices of active holiday and culture. This is a value-led audience, not a price-led one.
Reviews carry outsized weight: they rank second among the factors travelers consider, but first when it comes to the final choice. Destination marketing that leans only on beach-and-price imagery
is missing what actually persuades this audience: lead with culture and experience, not discounts, back it
with visible reviews, and reach travelers earlier through adjacent interests like adventure travel
and insurance before they've even started searching for the Maldives.
Search behavior and channel use explain how travelers get to a decision. This section asks what actually tips it — both at the destination level and the hotel level.
3.1x
YoY increase in international advertiser spend targeting the Maldives on Yandex. Advertisers are already acting on this —
the opportunity to lead with the right message is real, but it's closing.
Why travelers choose the Maldives
56%
Chose beach, and 57% warm climate —
the two clear leaders among reasons to travel to the Maldives.
Why travelers choose
the Maldives
Warm climate and beach are the two clear leaders. Price ranks below nearly every experience-led reason — a value-led choice, not a price-led one.
What guests look for
in a hotel
What guests look for in a hotel
Reviews carry outsized weight: fourth most-considered factor, but the second most important when it comes
to the final choice.
Target adjacent interests, not just Maldives searches
This Yandex audience shows unusually strong interest
in travel insurance (72%) and hiking/sports tourism (72%)
well above general categories like vacations in Europe.
Reach people through adventure/active-travel targeting
and creative before they've even started searching
for the Maldives, and pair any offer with flexible
cancellation or insurance messaging - a traveler who
cares this much about insurance is likely to respond
to that kind of reassurance.
Adjacent interests of the Maldives audience
Unusually strong interest in travel insurance
and hiking/sports tourism — reach this
audience through adventure and active-
travel targeting before they start searching
for the Maldives.
Egypt's Red Sea is the established, dominant diving destination for Russian travelers, built on decades
of dedicated marine-tourism infrastructure. As another world-class diving destination too, on-property
dive-operator partnerships and diving-led creative are a direct way to contest ground Egypt currently
holds.
A Global Brand, Borrowed Elsewhere
The Maldives today is more than just an island country — it's a world-famous brand. Other destinations market their own beaches as the
"[Country] Maldives."
Search queries for "[Country] Maldives" YoY growth
"Travelers come for the beach, but what keeps them here — and what other destinations
are trying to emulate — is everything around it: the excursions, the marine life, the culture
of the islands. When a destination brands itself 'Maldives-style,' that's not competition, that's
confirmation. So our job is to keep investing in what made the brand worth emulating in the first
place, and make sure that when people go looking for the original, they find it here."
Russian-speaking demand for the Maldives is a growth story. It already converts well, but it converts narrowly into three atolls, a luxury-only positioning, and a handful of familiar booking channels. Widen what that demand converts into, before competitors do it first:
Plan for the bookings you're already getting
More people are actually booking than are searching for the Maldives, so staffing and room
availability should be planned around confirmed demand, not search trends. Russian arrivals
held in a fairly narrow 16,000–28,000-per-month band across the last two years, without
the sharp single-season spike a "high season / low season" mindset might assume — which
points toward steadier year-round staffing, not one big seasonal ramp-up.
Target new visitors
72% of visitors are here for the first time, so there isn't much of a returning-guest base to draw on yet. Effort spent attracting new travelers will go further than effort spent trying to win back past guests.
Treat quieter atolls
as a targeting opportunity
The less-visited atolls have real room to grow for hotels and destination organizations looking to diversify beyond the busiest spots.
Reach this audience where they actually spend time not just where they search
This audience relies heavily on Maps, ride-hailing, online marketplaces, and travel-planning apps not just search engines. Relying on search alone will miss a large part of this audience.
Act now while it's still relatively easy to stand out
Spending on the Maldives from other advertisers
is already up over three times year-on-year.
The cost and effort of getting noticed will only
increase so being visible now is worth more than
waiting.
Lead with what makes
the Maldives special
Beach and weather are still the top reasons people choose the Maldives, but price matters
less to this audience than culture and experience do. Competing mainly on price plays
to the strengths of cheaper destinations whereas the Maldives wins by being distinctive.
Supported by the Maldives Association
of Tourism Industry (MATI)
Yandex Ads
About The Maldives Association of Tourism Industry (MATI)
The Maldives Association of Tourism Industry (MATI) is a non-governmental, non-profit organization
formed in 1982, for the purpose of developing tourism in the Maldives. A key function of MATI
is coordinating with all mandatory government policy making bodies to align new laws, regulations
and guidelines to Tourism Industry best practices, and representing the industry internationally and locally
by attending seminars, organizing and providing research, and offering professional consultation
to governmental, private and international organizations.
About Visit Maldives Corporation
Visit Maldives Corporation (VMC), formerly the Maldives
Marketing & Public Relations Corporation, was
established by
the former President of Maldives Mohamed Nasheed on 4 March
2010, and registered
under the Ministry of Economic
Development on 14 August 2011. VMC is the State-owned
enterprise
mandated to promote the Maldives as a tourist
destination worldwide under the brand "Maldives"
and slogan
"Maldives... The Sunny Side of Life," operating as an
independent and autonomous body under
a Board of Directors
appointed by the President. Its activities include travel trade
shows, roadshows,
media/influencer/celebrity/trade
familiarisation trips, brand visibility campaigns, digital
marketing, global
campaigns, travel agent training, PR/media
programmes, and joint marketing campaigns, with appointed
PR and trade representation across 15 key global markets.