Maldives still struggling to recover after tsunami
Gayoom told the World Islamic Economic Forum that arrival numbers plummeted after last December's tragedy and had "picked up very slowly in the first few months".
"Non-stop promotional work was undertaken, giving us a ray of hope that the industry would recover by high-season this year," he said.
"But the slow recovery of the industry and high oil prices have together combined to create further economic pains in the tsunami recovery phase."
The Maldives, a nation of 1,192 coral islands, is famed for its white beaches, tranquil waters and world-class diving.
The tsunami killed 82 people there and displaced seven percent of the country's population. It also dealt a huge blow to the tourism industry, which has been the main engine of economic growth for the last three decades.
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