Author: Mohamed Reehaan
Maldives Inland Revenue Authority (MIRA) revealed that the state earned a total of MVR1.28 billion of revenue in May 2022. Out of the total revenue earned to the state, 53.47 million were collected in foreign currencies. The government revenue collection had observed a 63.0% increment when compared to the same period in 2021, owing to the increment tourism related revenues such as TGST, Green Tax and airport taxes and fees. Furthermore, state earnings for the review month increased by 12.8% compared to initial projections mainly due to the significant increase in GGST, TGST as well as non-resident withholding tax. State…
Bangkok Airways recently announced its plans to resume flight operations to the Maldives on 22nd July 2022. The Thailand regional airline will reportedly restart its operations from Suvarnabhumi Airport and operate between Velana International Airport (VIA). Furthermore, the airline will have four scheduled flights to the island nation on a weekly basis. Bangkok Airways will operate two of its Airbus A319 aircraft for the route. In addition to this Bangkok Airways announced its plan to resume several of its popular domestic and international routes by the third quarter of 2022. The airline further reported that its flights to the Maldives…
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…