Male: The Maldives' newly-elected president has said his government will begin saving to buy a new homeland in case global warming causes the country to disappear into the sea.

Beloved by tourists for their white sandy beaches and clear waters, the 1,192 coral islands that make up the country risk devastation by rising sea levels.

Climate change

Mohamed Nasheed, who won the Maldives' first democratic presidential election last month, said his government will start putting aside part of its billion-dollar annual tourism income to purchase new land if the seas rise.

"We can do nothing to stop climate change on our own and so we have to buy land elsewhere. It's an insurance policy for the worst possible outcome," he said.

He added, "We do not want to leave the Maldives, but we also do not want to be climate refugees living in tents for decades."

Nasheed said he had already broached the subject with a number of countries and found them to be "receptive". India and Sri Lanka are targets because they had similar cultures and climates, while vast Australia was also an option.

He intends to create a "sovereign wealth fund" from the money generated by tourism, much like Arab states had with oil revenues.