Cost of Living in Maldives: Budget and Expenses for Students

14 min read

Thinking about swapping your classroom for a coral reef? Maldives could be your dream study destination, then. 

But first things first – when you think of the Maldives, don’t the pristine beaches first pop up in your mind? This archipelago nation is a popular holiday destination known for its exciting marine life and luxurious resorts. However, only a few people know that beyond its beauty, the Maldives also offers a unique educational experience amidst its serene surroundings. 

As many as five academic institutions in this country hold a strong reputation worldwide. Most programmes focus on diverse fields and are internationally recognised. This means that no matter in which country you apply for a job after getting your degree from the Maldives, that degree will be valid.  

But before you make that decision final, you must dive into the actual details of the cost of living in Maldives. From accommodation and daily expenses to tuition fees and recreational activities, comprehending the average cost of living in Maldives is essential for planning a financially sustainable student experience.

Go through this comprehensive guide to learn everything about the cost of living in Maldives. This guide aims to provide an overview of the living expenses in Maldives that you may bear while studying in this tropical paradise. Dive in for details. 

Key Highlights

Here is an overview of what you can expect in this detailed guide on the cost of living in Maldives.

Particulars	Details
Living Expenses in the Maldives	INR 69K (Rf 12,794) per month
Cost of Living in Maldives that goes Towards Rent in the City Centre	INR 70K (Rf 13,048) per month for 1 bedroom
Top Universities in the Maldives	The Maldives National UniversityVilla CollegeCyryx College
Average Annual Tuition Fees in the Maldives	INR 2.50L to INR 5L (Rf 4,61,145 to Rf 9,22,29)
Average Monthly Salary for Indians in Maldives	INR 32KL to INR 59K (Rf 6,000 to Rf11,000)
Top Scholarships that Reduce the Cost of Studying in the Maldives	Indian Council for Cultural Relations (ICCR) Scholarships

Why Choose to Study in the Maldives?

Did you know that there are more than 150 resort islands in Maldives, and the number is growing? Thus, the country is almost always extensively looking for those who can work as Marine Biologists or Marine Environmental Officers.

What does this mean for you? Greater opportunities to find employment while studying, gain hands-on experience, and make extra money to better manage your living costs in Maldives. 

Why should you choose the Maldives as your study abroad destination? Here are four.

1. Small Class Sizes and Personalised Learning: Many institutions, such as Koc University and Sabanci University in the Maldives, offer small class sizes, fostering personalised interactions between students and faculty, which enhances learning and academic support.

2. Diverse Experience: Studying in the Maldives exposes you to a diverse cultural environment where you can interact with locals and international peers, broadening your global perspectives and consequently finding new ways to decrease your cost of living in the Maldives.

3. Tropical Island Setting: The Maldives’ serene and picturesque environment provides a unique backdrop for academic pursuits, offering a peaceful and inspiring atmosphere conducive to learning and personal growth. This means you get to experience the best of travel experiences while studying. 

4. Options to Earn While Working: Did you know that international students can work part-time during their sessions in Maldives? If you’ve managed to grab a work permit while studying in Maldives, you can easily find jobs as an office administrator, store assistant, housekeeper, shop labourer, and more.

Cost of Living in the Maldives for Indian Students

The monthly cost of living in the Maldives can vary depending on your lifestyle choices and spending habits. When considering higher education opportunities in the Maldives, it’s essential to research specific costs and plan accordingly.

For instance, the monthly cost of living in the Maldives is INR 69K (Rf 12,794) without rent. If this figure demotivates you a little and you plan to switch to a different study destination, then you must also know that the cost of living in New York, US, is 97.9% more than the cost of living in Maldives. 

Similarly, the cost of living in London, UK, is 57% higher than the monthly living expenses in the Maldives.

Convinced that the cost of living in Maldives is a lot more affordable for Indian students than the cost of living in most Western countries? If so, read further to explore the cost breakdown for accommodation, transportation, and food. Have a look. 

1. Cost of Accommodation in the Maldives

When considering the cost of living in the Maldives, you cannot overlook the accommodation. It can vary depending on the location, accommodation type, and amenities provided. 

For example, while the rent for apartments in Male can be high, staying at universities for free is an option. Don’t believe it? Here’s an incredible stat for you: Several universities, like the Maldives National University, offer on-campus accommodation that gets included in your tuition fees, making the cost of living in Maldives even more affordable.

Rent Comparison: Malé vs Fuvahmulah

Did you know that the cost of living in Malé is approximately 65.6% higher than in Fuvahmulah (without rent)? While the percentage could vary depending on specific factors, living in the capital is always expensive compared to other cities in a country.

Here’s a table that briefs the monthly cost of living in both cities for Indian Students. 

Apartment Location	Estimated Cost of Living in Maldives in Malé	Estimated Cost of Living in Maldives in Fuvahmulah
1 bedroom apartment in the city centre	INR 81K (Rf 15,000)	INR 27K (Rf 5,000)
1 bedroom apartment outside of centre	INR 60K (Rf 11,214)	INR 21K (Rf 4,000)
3 bedroom apartment in city centre	INR 1.4L (Rf 26,428)	INR 46K (Rf 8,500)
3 bedroom apartment outside of centre	INR 1.1L RMB (21,500)	INR 43K (RMB 8,000)

2. Cost of Living in Maldives that Goes Towards Food and Groceries

Understanding the average cost of living in Maldives requires familiarity with the food expenses, which can vary greatly depending on where you eat. 

Dining at resorts and tourist areas is generally more expensive than at local restaurants and cafes. However, traditional Maldivian dishes, such as fish curry, roshi (flatbread), and garuda (fish soup), can be found at local eateries and markets. 

Meals at these local establishments typically range from INR 417 (Rf 76) to INR 1.2K (Rf 230), depending on the dish and location.

In contrast, dining at upscale restaurants within resorts such as Waldorf Astoria Maldives Ithaafushi, Sip Sip at Six Senses Laamu, etc., can be costly. Meals average between INR 2.5K (Rf 461) and INR 8K (Rf 1,539) or more per person. Prices at luxury resorts can be even higher.

Here is an overview of the living expenses in Maldives that go towards food and groceries to help you effectively plan your budget.

Particulars	Estimated Cost
McDonalds (or Equivalent Combo Meal)	INR 813 (Rf 150)
Cappuccino (regular)	INR 270 (Rf 49)
Coke/Pepsi (12 oz small bottle)	INR 116 (Rf 21)
Water (12 oz small bottle)	INR 30 (Rf 5)
Milk (regular, 1 gallon)	INR 543 (Rf 100)
500g Loaf of Fresh White Bread	INR 99 (Rf 18)
12 Eggs (regular)	INR 130 (Rf 24)
1kg Apples	INR 130 (Rf 24)
1kg Banana	INR 135 (Rf 25)
1kg Tomato	INR 124 (Rf 23)
1kg Onion	INR 37 (Rf 7)

3. Transportation Cost in the Maldives

All the islands in the Maldives, whether private resort islands or public, are small enough to be explored on foot, eliminating the need for car rentals. Though taxis are available on larger islands, walking is the most convenient and economical way to get around. 

Several options are available for inter-island travel. 

• Air travel by Velana International Airport is the primary mode of transportation, with domestic flights provided by Maldivian Airlines. 
• Ferries operated by MTCC range from INR 162 (Rf 30) to INR 406 (Rf 75) but are less reliable. 
• Traditional Maldivian Dhonis, available for INR 5K (Rf 1,000) to INR 8K (Rf 1,500), offer cultural and scenic journeys. 
• MTCC buses, starting at INR 16 (Rf 3), are limited to specific routes.

Here is an estimated cost of public transportation in the Maldives that is most economical for international students.

Particulars	Estimated Cost
Monthly Pass – Regular Price	INR 1.7K (Rf 330)
One-way Ticket – Local Transport	INR 54 (Rf 10)
Taxi Start (Normal Tariff)	INR 135 (Rf 25)

Please note: Public transportation costs vary by city but are affordable overall.

4. Cost of Utilities in the Maldives

The cost of utilities, like electricity, water, and internet, can vary, but you can generally expect to pay between INR 8K (Rf 1,539) and INR 16K (Rf 3,078) per month for these services.

Here is an estimated cost of living in the Maldives, focusing on utility costs. 

Particulars	Estimated Cost Per Month
Internet – 60 Mbps or More, Unlimited Data, Cable	INR 7K (Rf 1,343)
Basic – Electricity, Heating, Cooling, Water, and more	INR 11K (Rf 2,057)
Mobile Phone – Calls and 10GB+ Data	INR 3K (Rf 712)

Student Visa Cost to Maldives

The cost of a student visa to the Maldives can vary depending on the duration of stay and specific requirements. Generally, the visa fee for students entering the Maldives is approximately INR 6K (Rf 1,285) for the duration of your course or up to 5 years, whichever is less. 

Note: It’s advisable for you to check with the Maldivian embassy or consulate for the most current visa fee information and detailed requirements to ensure a smooth application process for studying in this tropical island nation.

Cost of Living Comparison: The Maldives vs USA, UK, Australia and Canada

Are you curious about the cost of living in the Maldives compared to Canada? Well, here’s a fun fact: The cost of living in the Maldives is 28.1% cheaper than in Canada.

Here is a comparison of the cost of living in Maldives vs the USA, UK, Australia, and Canada. 

Country	Monthly Cost of Living (Excluding Rent)
The Maldives	INR 69K (Rf 12,794)
USA	INR 97K ($1,167)
UK	INR 86K (£811)
Australia	INR 92K (A$1,653)
Canada	INR 88K (C$1,444)

Cost of Studying in Maldives for International Students

Now, here’s a fun fact for you: did you know the acceptance rate for the Maldive National University is 30%? No wonder why it is one of the best universities in the country. When it comes to understanding the nationality of those accepted by Maldivian universities, approximately 29,000 Indians live and work in the Maldives. 

Having said that, if you’re considering to take an admission in the Maldives, here are the top Maldives universities to choose from:

University	Approximate Annual Tuition Fees
The Maldives National University	INR 14K to INR 1.5L (Rf 1293 to Rf 28980)
Mandhu College	INR 94K to 1.1L (Rf 17,400 to Rf 21,600)
Cyryx College	INR 1.6L to INR 3.5L (Rf 30,000 to Rf 66,000)
Villa College	INR 3L to INR 3.3L (Rf 56,400 to Rf 61,800)

Scholarships to Reduce the Cost of Studying  in the Maldives

The Maldives offers scholarships designed to reduce students’ financial burdens and make higher education more accessible. Each program may have specific eligibility criteria and application processes, so prospective students should inquire directly with the respective colleges for detailed information and application deadlines.

Here are some of the most popular and prestigious scholarships for Indian students seeking financial support.

Scholarship Programme	Offered By	Benefit
Presidential Scholarship Programme	Maldives National University	Full tuition fee waiverMonthly stipend for living expenses
Villa College Scholarships	Villa College	Partial tuition fee reductionAccommodation support
Cyryx College Scholarships	Cyryx College	Merit-based tuition waiversFinancial aid for books

How to Reduce the Cost of Living in the Maldives for Indian Students?

Living in the Maldives offers a significant advantage with its low cost of living compared to many Western countries. However, what might seem like spending a little here and there can add up quickly. 

While living and studying in the Maldives can offer fantastic opportunities for Indian students, here are a few tips and tricks to help you reduce your cost of living further. 

1. Choose Local Islands for Accommodation

If you can’t find on-campus accommodation at your university, then you can opt to live in local islands instead of the capital city, Male, or resort islands. This can significantly reduce your living expenses as an Indian student in Maldives. 

Local islands offer more affordable housing options, lower costs for groceries, and fewer tourist traps that can drain your budget. 

• You can enjoy a more authentic Maldivian experience while saving money by staying in less tourist-heavy areas.
• Research and choose islands with reliable transportation links to your place of study to ensure convenience without compromising on cost
• Additionally, local islands often have tighter-knit communities, which can provide a support network for international students.

2. Share Accommodation and Utilities

Renting an apartment or house with fellow students is a practical way to cut costs. Sharing accommodation means splitting the rent, utilities, and other household expenses, making it more affordable for everyone involved. 

• Look for shared housing options through student forums, social media groups, or university housing boards. 
• Additionally, sharing living space with others can provide a sense of community and mutual support, which can be beneficial for adjusting to life in a new country. 

Ensure you discuss and agree on house rules and financial responsibilities with your housemates to avoid misunderstandings.

3. Cook at Home and Buy Groceries Wisely

Eating out frequently can be expensive, especially in tourist areas. Cooking at home using locally sourced ingredients is a cost-effective alternative. 

Shop at local markets, such as Male local market, Centro Mall, Island Bazaar, and more, for fresh produce and buy in bulk for better deals. Preparing meals at home saves money and allows you to maintain a healthier diet. 

Also, plan your meals to avoid unnecessary purchases and reduce food waste.

4. Utilise Public Transportation and Bicycles

Transportation costs can increase quickly, especially if relying on taxis or private vehicles. Opt for public transportation, such as ferries and buses, which are more affordable and efficient. Bicycles are another cost-effective and eco-friendly option for getting around. 

Familiarise yourself with the local transportation schedules and routes to maximise convenience and savings.

List of Top Recruitment Companies

Did you know that Maldives’s Gross Domestic Product (GDP) reached 7.2 billion USD in the first quarter of 2024, reflecting a year-on-year growth of 5.2%?

Curious about the top recruitment companies for jobs in the Maldives? Here’s a list of companies actively seeking new talent.

• KPMG
• Red Bull
• Qatar Airways
• Allied Insurance

Part-Time Jobs and Average Earnings for Students

In the Maldives, you have opportunities to engage in part-time jobs to supplement your income and gain valuable work experience while studying. The types of part-time jobs available often cater to the tourism and hospitality industry, which is a significant sector in the Maldives. 

A student visa allows the holder to live and work in the Maldives for the duration required to finish their degree.

You can find part-time jobs in the Maldives on websites like Jooble, Naukri, LinkedIn, or similar platforms.

You can generally find jobs like house helper, teacher, sales assistant, cashier, babysitter, etc. The average earnings in these jobs are around INR 5K (Rf 1,000) to INR 26K (Rf 5,000). 

Top 5 Highest Paying Jobs in Maldives

Here are the top 5 highest paying jobs in Maldives:

Position	Average Monthly Salary
Chief Executive Officer	INR 4L (Rf 74,218)
IT Director	INR 3.5L (Rf 65,406)
Call Center Director	INR 3.4L (Rf 64,330)
Leasing Director	INR 3.3L (Rf 62,627)
Plant Manager	INR 3L (Rf 57,258)

To Conclude

The cost of living in the Maldives is notably high due to its reliance on imported goods and a tourism-driven economy. Prices can be notably high in the capital city of Male and resort areas. For example, a meal at an inexpensive restaurant in Male can cost you INR 460 (Rf 85). 

While essentials like housing, food, and transportation can be expensive, especially in the capital and resort areas, living costs are lower on local islands. For emigrants, securing a good salary and understanding local expenses are crucial for a comfortable lifestyle in this tropical paradise.

We’ve discussed accommodation, food, utilities, and other essentials to highlight the key aspects of a single person’s living cost in the Maldives. If you have any questions, don’t hesitate to contact us.

Frequently Asked Questions