Author: Mohamed Reehaan

The latest update from Ministry of Tourism reveal that the total number of tourist arrivals to the Maldives has reached 732,884 as of 08th June 2022. Meanwhile, tourist arrivals in annual terms increased by 56.5% compared to the same period in 2021 during which tourist arrivals stood at just 468,387. Despite strong improvement in 2022 compared to 2021, the tourist arrivals in annual terms was still 6.2% below pre-pandemic levels in 2019 during which the tourist arrival total stood at 780,931. From 01st until 08th June, the total tourist arrivals in 2022 reached 30,562 observing a staggering 118.2% improvement over…

Bank of Maldives (BML) celebrated the World Oceans Day by collaborating with local dive schools to provide introductory Discover Dives for children with disabilities. In the initiative, a total of 18 participants from Maldives Association for Person with Disabilities and Autism Association joined the dive. According to the bank, the main aim of the initiative was to provide “children with disabilities an opportunity to experience the ocean through scuba diving, which is proven to be both therapeutic and rehabilitative.” The effort was carried out with the collaboration of locally renowned dive centers Divers Lodge, Dive Club and Moodhu Bulhaa Dive…

Maldives President Ibrahim Mohamed Solih on Wednesday assured on the country’s prospering economy. While noting that the country’s nominal Gross Domestic Product (GDP) is expected to surpass MVR100 billion in 2023, the Maldivian statesman assured that the country’s economic recovery was apace. Moreover, President Solih claimed that the government revenue for the state was expected at MVR8.5 billion for the first five months in 2022, which had however exceeded expectations by hitting MVR11.1 billion during the period. Although the country’s economy was recovering at brisk pace, President Solih warned about the persisting international geopolitical tensions; specifically the unpleasant clash between…

Maldives has been nominated for the World MICE Awards, a prestigious award program to foster growth, innovation and international best practices. The island nation has in recent years promoted its various avenues for MICE tourism niche. The MICE tourism which stands for Meetings, Incentives, Conferences, and Exhibitions is a fast growing section in the international tourism market which caters to several forms of business meetings, events and exhibitions as well as conferences. Maldives Marketing and Public Relations Corporation (MMPRC), the country’s state-backed tourism promoter which has been at the forefront of promoting MICE tourism in the island nation had recently…

Maldives Airports Company Limited (MACL) has denied the rumors of Russian national carrier Aeroflot suspending its direct flight operations to the Maldives. Moreover, the rumors were reported less than a month after the Russian flagship carrier recommenced its operations to the island nation. The reports followed after it was confirmed that Aeroflot will be suspending its operations to Sri Lanka. The airline discontinued its direct flight operations to the Sri Lanka after one of its flights were grounded by Lankan authorities. According to Aeroflot, the flight will remain under the custody of Lankan authorities until 16th June; which was detained…

Housing Development Corporation (HDC) has announced it will be opening the applications for the Vinares housing flats. The housing flats, developed at Hulhumale’ Phase II are reserved for Male’ registered residents. In addition to this, 100 apartments from the housing units have also been reserved for individuals who are not registered in Male’, but living in the city for a total of 15 years. The eligible applicants must fulfill a set of criteria which include; Must be a registered resident of Male’ City Not bound to an agreement to purchase a housing unit, land or plot from Male’ City of…

Kuda Vilingili Resort Maldives is celebrating its first anniversary, which opened on 06th June 2021. Commemorating the resort’s first anniversary, its management extended their deepest gratitude to the guests, ambassadors and stakeholders who have helped “establish the resort as a stunning destination.” The resort has worked closely with the local community over the past year since inception, and provides support as part of its sustainability initiatives. The first year anniversary of Kuda Vilingili Resort Maldives started off with a celebratory lunch by the management for the ambassadors. Speaking on the occasion, the resort’s General Manager Mr. Morgan Martinello said, “It…

According to World Bank’s latest Maldives Development Update, the island nation’s poverty rate dropped by 7% in 2021. The country’s account deficit and overall fiscal position were improved due to recovery of tourism post-Covid. As such service exports and tourism-linked revenue streams picked up in collection during the previous year. All economical sectors with the exception of construction industry, showed significant bounce back in 2021. Poverty rates in the country rose by 11% in 2020 due to the Covid-19 pandemic’s global outbreak, which was estimated to have dropped by 4% in 2021. Moreover, World’s Bank update further noted that the…

State Trading Organization (STO) introduces low-carbon cement; or “Green Cement” to the Maldivian construction market. The low-carbon cement is STO’s move towards introducing a more eco-friendly alternative in replacement of conventional cement products. According to STO, the “Green Cement” will effectively help in reducing environmental impact rising from the cement manufacturing and construction industries. The low-carbon concrete will reportedly have lower levels of hydration heat compared to conventional cement products. The company’s decision of replacing conventional cement with low-carbon concrete is reflective of its commitment towards promoting carbon neutrality. Moreover, STO confirms that the low-carbon cement is manufactured using recycled…

The Maldives Minister of Finance Mr. Ibrahim Ameer has denied the rumors surrounding the depletion of the country’s reserves. Recently, Maldives Parliament Speaker Mr. Mohamed Nasheed had warned over the possibility of the country’s reserve hitting critical levels. However, while explaining the recovering economic background of the Maldives, minister Ameer clarified that the expanding US Dollar income in the country will greatly enhance reserve increment. Moreover, the minister had claimed that the country’s national reserves will be maintained at levels similar to pre-Covid conditions. In addition to this, minister Ameer had affirmed that the Maldivian government was capable enough to…