MALÉ, Maldives — “Ninety percent of the Maldives’ tourism industry is now in the hands of foreigners,” Ahmed Siyam Mohamed, resort tycoon and Member of Parliament, declared in a budget debate last week. His warning was stark: unless the government steps in to support Maldivian entrepreneurs, the country’s islands risk being owned almost entirely by outsiders for generations. Siyam, who built the sprawling Siyam World resort with the help of a sovereign guarantee, argued that state-backed financing can empower local businessmen. His resort alone employs 2,000 Maldivians, he said, proof that domestic ownership can deliver jobs and revenue. But without … Continue reading Paradise at a Price: The Maldives and the Politics of Luxury Tourism