Author: Mohamed Reehaan

The Maldives government has already utilized 60% of the budget allocated for Aasandha for the fiscal year 2023. Aasandha is the state-initiated health insurance and social protection initiative with the aim of supporting Maldivian citizens in their medical needs. Statistics from the Ministry of Finance revealed that the government has already utilized MVR628.1 million out of the annual total of MVR1,045.0 million (MVR1.05 billion) allocated in the budget. The government had spent only MVR345 million during the first quarter in 2022, but that was against an annual total of MVR730 million; almost MVR300 million less than this year’s allocation. While…

The Maldives has been nominated for several awards under the Indian Ocean category at the World Travel Awards 2023. Among the multiple nomination nods, Maldives is nominated for the “Indian Ocean’s Leading Sustainable Tourism Destination 2023” award, one of the more prominent accolades in the event. The Maldives is nominated for the award alongside four other island nations in the region. Voting for the World Travel Awards 2023 is currently open, and will remain effective until 30th April 2023. Besides the high-profile Sustainable Destination nomination nod, the Maldives has been nominated for multiple awards under the Indian Ocean category which…

The Ministry of Tourism has confirmed it is preparing to resume the special talk series “Tourism Upbeat” once again. “Tourism Upbeat” is a special talk series focusing on the Maldivian tourism industry. The series first commenced in February 2022 as part of the Golden Year of Tourism celebrations. The show was created with the aim of creating awareness and provide information to encourage students to take up tourism industry jobs. Each session of the series is focused on a singular theme, and invites a panel of high-profile speakers to impart their knowledge and share their experience with the attendees. The…

The Bank of Maldives (BML) has said proposals to its Community Fund will be accepted until 13th April 2023, Thursday. BML launched its Community Fund to held local NGOs and associations to execute community-centric projects in key focused areas which include, environment, education, sports, and community empowerment. Winning proposals will secure a funding of MVR 50,000 towards their respective projects. The bank will extend financing under the Community Fund to registered associations and organizations only. BML has provided financial support under the #AharengeBank Community Fund initiative for over 80 projects across the Maldives.

The state revenues and grants for February 2023 is MVR4,081.6 million (MVR4.2 billion), a 117.0% percent rise compared to the same month in 2022, reported the Ministry of Finance. According to the ministry, the total expenditure for the month increased by 5.1% compared to the same month last year. Capital expenditure declined by 5.1% whereas recurrent expenditure observed a 14.5% increment. The fiscal balance for the month gives an overall deficit of MVR739.7 million. Revenues and Grants Tax Revenues: MVR1,792.5 million (MVR1.8 billion) Non-tax Revenues: MVR639.6 million Proceeds from Sale of Assets: MVR0.2 million Grants: MVR3.1 million Expenditure Recurrent Expenditure:…

The total number of tourist arrivals as of 08th April 2023 is less than 30,000 shy from hitting a year-to-date total of 600,000. According to the Ministry of Tourism statistics, tourist arrivals as of the review date reached 572,740 which is a 21.9% increment compared to the 469,816 year-to-date total by the corresponding period in 2022. Tourist Arrivals – by Month January: 172,499 (2023) | 131,765 (2022) | 92,103 (2021) February: 177,915 (2023) | 149,011 (2022) | 96,882 (2021) March: 173,514 (2023) | 150,748 (2022) | 109,585 (2021) Tourist arrivals from 01st to 08th April reached 48,812 which is a…

The Maldives Marketing and Public Relations Corporation (MMPRC) along with 15 industry partners have promoted the island nation’s tourism industry at the WTM Latin America (WTM LATAM) 2023. The event was held from 3rd to 5th April at the José Bernando Pinto, 333, Vila Guilherme, São Paulo, Brazil. The WTM LATAM is considered as a prominent fair in the region, while participation in the event will strengthen the Maldives’ brand presence in the Latin America market, said MMPRC. The fair is also one of the major B2B travel and tourism events for the Latin American market, offering excellent business opportunities…

Intour Maldives presented the “Ultimate Luxury Collection”, an exclusive coffee table book covering the Maldivian tourism industry, to the Maldives Marketing and Public Relations Corporation (MMPRC). While presenting the book, Intour Maldives claimed that it valued the work and effort put by MMPRC to market the destination in several key source markets. Intour Maldives, now a Serandipian Member Agency, is one of the pioneers in luxury tourism in the country with over 27 years of experience. The latest publication adds to the company’s existing portfolio of marketing materials including the company’s annual brochure.

The Travel Trade Maldives (TTM) announced that the exhibitor and visitor registrations are now open for the TTM 2023 travel trade fair. The Travel Trade Maldives is the leading international trade show in the country. The event will attract over 100 resorts and hotels, and more than 250 major operators from the top 30 markets to the Maldives. TTM announced that exhibitors and visitors can now register for the event, which will be available until 30th June 2023. Those who are interested to participate, can register through the TTM Connect portal at connect.traveltrademaldives.com. This year’s TTM fair is scheduled from…

The state expenditures in cumulative terms reached MVR11,085.2 million (MVR11.1 billion) as of 30th March 2023. On the other hand, the state revenues inclusive of grants reached just MVR8,495.2 million (MVR8.5 billion) by the same review date. The Maldives government has spent 69% of the state budget has been spent on recurrent needs and the remaining 31% on capital expenses. Meanwhile, the government earned 80% of its revenues from tax sources and the remaining 20% from non-tax sources. Revenues and Grants Tax Revenues: MVR6,762.4 million (MVR6.8 billion) Non-tax Revenues: MVR1,715.0 million (MVR1.7 billion) Capital Receipts: MVR1.6 million Grants: MVR16.5 million…