Author: Mohamed Reehaan
Maldives Inland Revenue Authority (MIRA) has reported a total state revenue of MVR 1.61 billion for June 2023. According to the authority, this is notable 31.7% decline compared to the same month in 2022. MIRA said this drop mostly due in part of the decrease in the Income Tax and Tourism Land Rent collection. In its monthly report, MIRA said that the Income Tax return and final payment deadline for 2022 tax year was deferred to July 2023, which resulted in the drop in the Income Tax for the review month. The initial deadline for Tourism Land Rent for the…
Maldives Monetary Authority (MMA) has restricted the government’s overdraft limit to MVR 2 billion. Despite the central bank’s imposed limitation on currency printing, it has already printed MVR 4.2 billion in 2023, which has been exchanged for a long-term bond. The main aim for MMA’s currency printing efforts is to manage state expenditure. Maldives government allocated a state budget of MVR 42 billion for 2023 fiscal year, the highest ever by any government in the country so far. According to Ministry of Finance, government’s outstanding debt to MMA in long-term bonds is at MVR 12.5 billion. MMA imposed the recent…
Russia has once again emerged as the top source market after a close competition with India. According to Tourism Ministry’s statistics as of July 19, tourist arrivals on a year-to-date basis from Russia reached 119,405 while the arrivals from India stood at 118,638. Currently the United Kingdom is the third strongest market with 85,884 arrivals so far, while China is now ranked fourth with 80,769 arrivals. Germany which secured fifth spot last year still remains in the same spot with 70,065 arrivals so far. Maldives surpassed its one millionth arrival target earlier in July and as of the review date,…
The governments of Maldives and the United Kingdom have entered into a maritime security agreement. The agreement was signed by the Minister of Transport and Civil Aviation Aishath Nahula on behalf of the Maldives government and Baroness Charlotte Vere, UK’s Minister for Aviation, Maritime, and Security on behalf of the British government. The memorandum of understanding signed between the two nations on the International Ship and Port Facility Security Code is said to further strengthen and enhance cooperation between the Maldives and the UK, said Minister Nahula. The partnership will also boost the development of stronger security policies for marine…
The housing flats developed by Maldives Airports Company Limited (MACL) in Hulhumale’ Phase 2 are undergoing significant repairs just months after the first batch of residents moved in. Since the first batch of MACL employees and their families moved into the flats in October 2022, there have been numerous complaints about various issues tied to the buildings’ structure. The complaints have prompted notable repairs to address the concerns of the residents. According to complaints, the most reported issue by several residents is the leakage of water from the balconies into the living area during heavy rain. Additionally, some apartments have…
Hotelier Maldives, the leading tourism and hospitality publication in the Maldives, announced the revamped General Managers (GM) Forum, with this year’s seventh edition, originally scheduled for September, now moved to October 19, 2023. The organizer pushed the forum back in light of the presidential election slated for September 9, 2023. This year’s forum will be held at the picturesque Bandos Maldives, regarded as one of the leading MICE destinations in the Maldives and in the South Asian region. Since inauguration in 2016, the GM Forum has been a sought-after platform for over 100 general managers and hoteliers to gather, discuss…
Experts at Bounce have analyzed the list of the most famous sunset hotspots based on their social media popularity, pollution levels, and total number of recommendations, which has led to the Maldives being ranked second. The Maldives took the second spot for the best sunset skies in the world, scoring 9.07 out of 10 in the ranking. Maldives secured the rank due to its unique tourism nature, especially the ‘one island, one resort’ concept pushing down the light pollution to 0.219 μcd/m2. The top ranker, Uluru, scored 9.13 out of 10 for its sunset scenes. Also known as Ayers Rock,…
Four Seasons, the Canada-originated hospitality giant revealed July 19, its first lot of private jet itineraries for 2025. Expertly planned by the Four Seasons team, the inaugural two journeys will take place in Asia and Africa, respectively. Four Seasons described the endeavor “perfect for travelers with kids or tight schedules” and reports the all-inclusive trips are shorter than previous ‘Four Seasons adventures’ and involves minimal travel across time zones. The hospitality giant reports the new private jet trips will run from December 29, 2024 to January 10, 2025. The 13-day African Wonders itinerary covers several remarkable locations which would start…
President Ibrahim Mohamed Solih officially inaugurated the new powerhouse developed in Vaavu atoll Thinadhoo. The new powerhouse was developed away from the main settlement in the island to ensure the excess fumes and smoke from the outlet does not create nuisance for the public and tourists. The island’s powerhouse is the first-ever to be taken under State Electric Company’s (STELCO) management after the government began managing powerhouses developed by the public in their respective residential islands. When STELCO took over, the outlet had a single small power generator. However, STELCO procured, assembled and installed larger units shortly after taking over…
The average number of containers cleared by Maldives Ports Limited (MPL) in June 2023 saw a 14% decline compared to May 2023. According to MPL, a total of 4,400 containers were cleared from its commercial harbors in the review month. This is equivalent to 6,180 TEUs (twenty-foot equivalent units). From the total containers, 2,620 were 20-footers and 1,780 were 40-footers. Correlating to this decline in the number of containers cleared, the amount of perishables imported via the commercial harbors saw subsequent drops as well. Water imports in June recorded a 16% drop, with 20,554 units imported compared to 24,605 units…