Author: Mohamed Reehaan

Tourist arrivals as of 14th June reached 861,167 indicating that the annual arrivals is now 138,833 shy of reaching the 1 millionth arrival mark. Tourist arrivals as of the review date showed an annual increment of 14.2% compared to the corresponding period last year during which arrivals stood at 754,301. Arrivals by Month (2023 | 2022) January: 172,499 | 131,765 February: 177,915 | 149,011 March: 173,514 | 150,748 April: 164,357 | 145,282 May: 120,966 | 125,528 June (1st to 14th): 51,916 | 51,967 Top 10 markets of 2023 (as of 14th June) India: 101,348 Russia: 100,593 UK: 76,148 Germany: 63,021…

The state revenue and grants for April 2023 stood at MVR 2,463.01 million (MVR2.5 billion), indicating a 13.8% increment compared to the same month last year, reported the Ministry of Finance. The ministry in its monthly fiscal developments noted that the total expenditure for the review month increased by 38.0% compared to the corresponding month in 2022. Compared to April 2022, capital expenditure increased by 63.8% while recurrent expenditure shot up by 30.2%. The fiscal balance for the month is an overall deficit of MVR 1,286.6 million (MVR1.3 billion). Revenue and Grants Composition TGST: 33.2% GGST: 16.2% Import Duties: 10.6%…

Maldives Border Miles has surpassed 1.5 million members. Introduced as the first three-tier destination loyalty program of its kind, the Maldives Border Miles has gained remarkable popularity in a short span of time. The initiative was officially launched on 27th September 2020, coinciding with World Tourism Day, and became functional on 01st January 2021. The program was established through the collaborative effort of Maldives Immigration, the Ministry of Tourism, Maldives Marketing and Public Relations Corporation (MMPRC), and Maldives Airports Company Limited (MACL). The three-tier destination loyalty program rewards members with points based on several factors including the duration of guest…

The Banyan Tree Group Maldives announces that all three of its properties, namely the Banyan Tree Vabbinfaru, Dhawa Ihuru, and Angsana Velavaru are recipients of TripAdvisor’s Travellers’ Choice Award 2023. The Travellers’ Choice Award, a much coveted recognition, honors businesses that constantly receive outstanding feedback and reviews from travelers worldwide for the past 12 months, making them part of the top 10% of all listings in the platform globally. “This brings us joy to share that since 2018, all three resorts have received this esteemed recognition. We would not have achieved it without the love and support of our guests.…

In a bid to support local small and medium enterprises, the World Bank has extended a grant of USD 67.8 million (approximately MVR 1 billion) to the Maldivian government. The financing agreement was signed by Minister of Finance Ibrahim Ameer on behalf of the Maldivian government, and by the World Bank Country Director for the Maldives, Nepal and Sri Lanka Faris H. Hadad-Zervos on behalf of the bank, during a ceremony held at the ministry’s office. A total of two distinct agreements were signed under the financing arrangement. The first aid worth USD 53 million (MVR 814 million) was extended…

If you are among the movers and shakers of the entrepreneurial world, or if you have just started your own business free from the shackles of people who will boss you around, then you must have come a long and hard way to reach where you are. This means that you are now looking ahead to present your company in its best capacity for the world to see, and it includes everything noted down to the T with regards to your corporate image. So what happens when you flash out your business card and under the part where your business…

Allied Insurance Company has opened opportunities to apply for its Community Fund and Education Fund. The funds were introduced under Allied’s “Premium for Good” initiative. The Community Fund was developed to provide financial support to local organizations and associations towards community empowerment projects. The fund will support said organizations and associations in six major fields which include health, social service, environmental protection, women and children’s rights, education and history. The strongest insurance service provider in the Maldives noted that application window is open until 15th August. The four best proposals will receive MVR 50,000 in financial support. Allied’s Education Fund…

The first Maldivian ‘Internet Governance Forum’ has concluded successfully. The two-day forum was held on 16th and 17th June 2023, and was held in a total of 13 different sessions. The event saw participation of various organizations, telecom service providers, academic institutions, technological and legal firms, local councils, youth, and several corporate and private businesses. The attendees had chimed in their opinions and perspectives on improving internet governance in the Maldives. The forum was officiated by the Chief Judicial Administrator Al-Ustada Aishath Rizna. In her opening speech, Rizna highlighted the importance of reducing disparity in internet usage. She also urged…

The Maldivian government has once again opened its Embassy in the United States of America (USA). The embassy was opened in the US Capital, Washington D.C. The inauguration ceremony for the new embassy in Washington D.C. on Friday, June 16 was officiated by the Minister of Foreign Affairs Abdulla Shahid. The minister was joined by the Assistant Secretary of State for South and Central Asian Affairs of the US Department of State, Donald Lu. While speaking at the ceremony, Lu said that the establishment of the Maldives embassy in the US is indicative of the States’ efforts to strengthen its…

Urbanco has signed on as the title sponsor for the 11th edition of the Living Expo. The Hulhumale’ management corporation signed on with the event’s organizer HighRise Maldives earlier, and was announced that the event is scheduled for 10th to 12th August 2023. The 2023 Living Expo will be held at Central Park, Hulhumale’; which is a popular venue for large-scale expos. Launched first in 2013, HighRise Maldives-powered Living Expo is the first comprehensive event focusing on real estate and housing initiatives, projects, products and latest offers. The event attracts notable contractors, construction companies and groups, real estate developers and…