Author: Mohamed Reehaan

As per Privatization and Corporatization Board (PCB), the state owned enterprises (SOEs) in Maldives generated a collective income of MVR 10 billion for 2022 first quarter. According to PCB, which oversees SOEs under the Ministry of Finance, 31 companies posted a total income of MVR10.27 billion during the review quarter. This is a 54% increment compared to the corresponding quarter in 2021. The largest SOE in the Maldives, State Trading Organization (STO) registered the highest income at MVR4.04 billion during the review quarter. This was a MVR1.8 billion increment compared to the same period last year. Maldives Airports Company Limited…

Dusit Thani Maldives has appointed Mr. Jacques Leizerovici as its new General Manager. Mr. Leizerovici, a duel French-Canadian citizen, brings to the role more than 30 years of experience working in senior management positions for renowned hotel brands under the Accor Group across South America, Malaysia and Canada. The new Dusit Thani Maldives GM first started his career in hospitality industry back in 1984 at Le Meridien Montreal, after which he had a stint as Maitre d’hôtel and Front Office Manager at Novotel Fleur d’ Epée. Through his vibrant career, Mr. Leizerovici has gone on to develop a well-rounded skillset…

State Trading Organization (STO) hosts their “Ankara Night” 2022 edition in Addu City. STO’s “Ankara Night” is a public, open-for-all event showcasing various pasta-based recipes and dishes; to promote Ankara brand pasta products. STO is the authorized distributor and reseller of the brand in the Maldives. Attendees can taste and experience different types of pasta-based dishes made from Ankara brand, which is served in a banquet style. The aim of the event is to brand information on Ankara, and create consumer interest. Previously the event had been hosted in Maldives capital, Male’ City. Aside from the free-for-all banquet, attendees were…

Largest telecommunication company in Maldives, Dhiraagu launches new data allowance package. The telecom and internet service provider, has launched its new 240GB monthly package. Customers subscribing for the new “Salhi Monthly 2x” will receive 8GB data allowance daily for a 30-day duration. With a total usage of 240GB, the plan is worth MVR745. To subscribe for the service, Salhi Prepaid customers can activate the package by sending an SMS typed “S2GB30” to 343. Dhiraagu Salhi data allowances provide data renewal feature every day, while granting the entire data total distributed to a monthly period. Customers can use the full data…

Maldives national carrier, Maldivian Airlines is currently seeking to acquire long-haul aircraft on long-term lease. The airline’s next strategic moves was confirmed by its parent company Island Aviation Services Limited. Maldivian expects acquiring a long-haul variant on an eight-year lease, with economy and at least 12 business class seats. Island Aviation’s Deputy Managing Director Aishath Jennifer confirms the airline is gearing up to bring the aircraft during 2022 first quarter. With the lease, the airline aims to expand its flight routes. To acquire a new addition to its fleet, Maldivian is releasing its largest plane in the fleet; an Airbus…

Tourist arrivals to the Maldives exceed 1.27 million as of 19th October, reports Ministry of Tourism. The ministry revealed the total tourist arrivals as of review date stood at 1,279,231. This was a 34.1% annual increment when compared with 2021, but 4.3% lower than the same period in 2019. Tourist arrivals for corresponding period in 2021 stood at 953,725, while for the same period in 2019 it stood at 1,337,178. Daily arrival average is at 4,381 in annual terms, while from 01st to 19th October the daily arrival average is at 4,664. The average duration of stay is 8.1 days…

Maldives Marketing and Public Relations Corporation (MMPRC) participated at the ITB Asia 2022, held from 19th to 21st October 2022. MMPRC took part in the travel trade fair along with 18 industry partners. The event was held at Sands Expo & Convention Center, Singapore. The top tourism promoter maintained destination presence of Maldives, provided latest information to the South East Asian markets, and networked with industry partners. ITB Asia is one of the region’s leading B2B travel trade shows. The event is designed with Asia Pacific travel at the forefront. The fair featured thousands of exhibitors from Asia-Pacific, Europe, the…

Ministry of Tourism has reported over 14,000 beds at operational capacity from local guesthouse properties. As of 19th October 2022, guesthouses at registered and operational capacity reached a total of 855, which contributed a total of 14,006 beds to the industry. The highest number of beds from guesthouses were registered from Kaafu atoll at 7,465. Second highest was Alif Alif atoll with 1,876 beds and third was Alif Dhaal atoll with 1,178 beds. The combined total of beds from the Maldives tourism industry is at 59,809 out of which 58,671 are at operational status. Tourist property details as per the…

Activities in the wholesale and retail trade sector, was estimated to have declined by 11.9% in Q1-2022 following which the sector started to bounce bank, reports Maldives Monetary Authority (MMA). The central bank confirms the gross value added of the sector remained 37.6% below pre-pandemic levels (Q1-2019), during the first quarter of 2022. However, as of Q2-2022, the sector’s trade activity expanded, suggested by the private sector imports and bank credits. During Q2-2022, private sector imports (excluding imports by the tourism sector) increased by 42% in annual terms. Commercial bank credit to the sector rose by 11% during the quarter.…

During 2022 second quarter, tourist bed nights registered a 49% increment, reports Maldives Monetary Authority (MMA). According to MMA, this increment came despite the fall in average stay from 9.1 days in Q2-2021 to 7.7 days in Q2-2022. Moreover, bed nights increased by 12% compared to pre-pandemic levels of Q2-2019. Moreover, Russia and Ukraine markets that accounted for both 12% and 2% arrivals respectively, for the first quarter, fell to 8% and 0% during Q2-2022. This significant drop is due to the Russia-Ukraine war which ignited earlier in the year. Meanwhile, during the review quarter, resumption of Russia’s flagship carrier…