Author: Mohamed Reehaan
The most recent amendment to Tourism Act of the Maldives has placed notable blocks on Maldives Inland Revenue Authority (MIRA) in collecting Green Tax revenue. This intervention comes thanks to the date effect for the green tax collection in a provision of the new amendment. According to the 11th amendment of the Tourism Act, the effective date for collecting green tax will commence on 01st January 2023. This recent amendment was earlier passed by the Maldivian parliament on 30th June. Maldivian President ratified the bill later during previous month, on 03rd July. MIRA began collecting green tax from tourism properties…
IDeaS join TTM Maldives 2022 edition as the event’s gold partner. The leading international travel trade show is scheduled from 23rd until 25th August 2022. IDeaS offer industry-leading revenue management solutions for businesses of all types and forms in the global hospitality and travel industry. They provide business projections and actionable insight using real-time and relevant data. TTM Maldives will include prescheduled meetings, slated for Meeruma Conference facility from 23rd to 24th of the current month, while the TTM Travel Summit and TTM Awards and Gala night are scheduled for the final eve of the event duration. Over 200 hoteliers,…
Maldives Marketing and Public Relations Corporation (MMPRC) announces their collaboration with Dotcom Arabia to promote Maldives in Germany. The campaign will be held in August 2022, with the aim of boosting brand visibility of the island nation in the German market, increase destination awareness, and drive up arrival figures from the market. MMPRC will canvas Maldives-centric billboards at Postdamer Platz-Quartier and the Berlin Airport. Germany’s Postdamer Platz-Quartier is a busy hub with an estimated advertisement reach up to 5.5 million people, while the advertisements at the Berlin Airport will reach 1.2 million potential travelers. The campaign’s partner Dotcom Arabia, is…
Bank of Maldives (BML) announces its decision to support the upgrade of Maldives National Museum, as part of the series of 12 high impact monthly community initiatives to celebrate the bank’s 40th anniversary in November. BML will support the care, preservation, and display of the national museum’s collection which includes upgrading of its conservation and preservation laboratory. In addition to this, the bank will assist in the development of an interactive content to encourage public engagement and attract visitors to the museum. “The national museum is an important institution that preserves our national history for our future generations. This is…
Top-tier tourist property Huvafen Fushi partners up with world-renowned artist Lucas Beaufort for the launch of his new artistic project “Beyond.” The celebrated artist will take residency, this summer, at Huvafen Fushi from 01st to 08th August 2022, and commence the first work of his project around the world. The multi work painting program “aims to share the colors and atmosphere of unique and unusual places like the Maldives.” Lucas Beaufort, originally from Cannes, France is a renowned painter, illustrator, filmmaker and a photographer. His work stages recurring and playful imaginary characters in creating brilliant sets and scenes in many…
Cumulative total of state expenditure as of 21st July reaches MVR20,070.7 million (MVR20.07 billion), while cumulative total of state revenues sluggishly hit MVR14,811.4 million (MVR14.8 billion). State has spent 76% of their budgetary total on recurrent expenses and 24% on capital expenses. On the other hand, state earned 74% of its revenue from tax sources and 26% of the government revenue came through non-tax sources. The overall fiscal balance for the review period is a deficit of MVR5,259.3 million (MVR5.3 billion). Tax revenues in annual terms reached MVR10,959.4 million (MVR10.96 billion) as of the review date while non-tax revenues reached…
The Raajje-Transport Link (RTL); integrated public transport network initiative commences in major population zones across the Maldives. Under the RTL initiative, bus services launched in Addu City, Fuvahmulah City and in the islands of Gan, Isdhoo and Kalhaidhoo of Laamu atoll. Maldives Transport and Contracting Company (MTCC) on Sunday, 31st August 2022, reports of commencing the bus services in the designated areas. Earlier, MTCC had acquired more than 30 mini-buses to launch the RTL mini-bus service. While the said service is yet to commence in Maldives capital Male’ City, the capital’s City Council is currently attending on vacating existing parking…
A seven-year old boy had his finger broken by his robotic opponent during a chess match in Moscow, Russia. While the origin of the incidence is still mired in debate, the video of the incident suggests that the boy took a move faster than the robot was expecting, which might have lead to the altercation. Footage of the incident shows the robotic arm grabbing and pinching the boy’s finger with sudden movement, after which people around the table rushed to the child’s aid and managed to get his finger out from the robotic arm’s grip. “The robot broke the child’s…
Maldives Transport and Contracting Company (MTCC) reported a net profit of MVR130 million for the first-half of 2022. According to the quarterly financial updates of MTCC, the company earned a revenue of MVR1.1 billion; MVR593 million earned in the second quarter and MVR550 million earned during the first quarter. On the other hand, the net profit of the contracting and transport based company for the corresponding period in 2021 stood at MVR125 million, indicating a MVR5 million improvement in the review quarter. The annual net profit of MTCC for 2021 reached to MVR272 million, while the year before in 2020…
The most recent update from the Ministry of Tourism confirms tourist arrivals to the Maldives reaching 942,444 as of 30th July 2022. This increment reflects a rise of 55.2% tourist arrivals in annual terms in comparison with the same period last year, and still 4.9% below pre-pandemic levels in 2019. In 2021, tourist arrivals in annual terms as of 30th July stood at just 607,052 whereas in 2019, it was inches close to hitting the 1 million mark; at 990,761. Tourist arrivals by single-country source market does not indicate any changes from the previous review with India maintaining top market…