Fitch affirms Maldives’ B- rating, cites economic and financial challenges
Fitch Ratings, a leading global credit rating agency, has affirmed the Maldives’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Negative Outlook. This decision is based on a careful assessment of various economic and financial factors affecting the nation. Here are the key rating drivers and highlights from Fitch’s assessment: Negative Outlook: The […]
World Bank forecasts Maldives’ debt to reach 115%, GDP growth to slow
The World Bank has forecast that Maldives’ debt will reach 115 percent of GDP this year, and that GDP growth will be slower than previously forecast. The World Bank said in its South Asia Development Update that the Maldivian economy is expected to grow by 8.2 percent this year, but that this growth will slow […]
Kaage: Award-winning epicurean escapade at VARU By Atmosphere Maldives
As you bask in the warm embrace of the sun-kissed waves on the pristine shores of the Maldives, a culinary oasis awaits at Kaagé, the specialty restaurant at Varu By Atmosphere. Nestled amidst turquoise waters and lush greenery, this cosmopolitan property offers you an unrivalled gastronomic experience that will tantalise your taste buds and nourish […]
Maldives: 1,261 Tourist Facilities in Operation
The Ministry of Tourism recently announced that as of September 12, 2023, a total of 1,261 tourist facilities in operation. The breakdown of these tourist facilities is as follows: 172 resorts, 913 guesthouses, 14 hotels, and 162 live-aboard vessels. This diverse range of accommodations caters to travelers with various preferences and budgets, ensuring that all […]
World Tourism Day: A celebration of tourism’s importance to the Maldives
As World Tourism Day 2023 approaches, the picturesque nation of Maldives eagerly prepares to join the global celebration under the theme of “Tourism and Green Investments.” In a world that’s becoming increasingly aware of the importance of sustainable practices, the Maldives, with its breathtaking natural beauty and reliance on tourism, is at the forefront of […]
Sanjeet Gopee: From farm boy to Executive Chef at Nova Maldives
Imagine waking up to a stunning view of the turquoise ocean, feeling the gentle breeze on your skin, and smelling the mouth-watering aroma of freshly cooked food. This is what awaits you at Nova Maldives, a modern all-inclusive community concept that offers guests a variety of dining options and cuisines. Whether you crave for a […]
International Housekeepers Week 2023: Celebrating the hard work of unsung heroes
International Housekeepers Week is celebrated every year from September 10-16 to recognize the hard work and dedication of housekeepers around the world. In the Maldives, where tourism is the main economic driver, housekeepers play a vital role in ensuring the cleanliness and comfort of guests at the country’s many resorts. Housekeepers are responsible for cleaning […]
DERBAL: Your premier hotel supplier and leading China resort products manufacturer
In the ever-evolving universe of hospitality, where every moment shapes cherished memories, DERBAL TECHNOLOGY CO., LIMITED (DERBAL) has been a visionary force for eight remarkable years. Committed to crafting perfection, DERBAL has emerged as an industry luminary, defining the pinnacle of hotel supply services. As we celebrate this monumental milestone, we invite you to embark […]
The complex web of factors behind Maldives’ unusual economic instability
The Maldivian economy has been navigating a rather peculiar and tumultuous terrain in the middle of this year. Unlike previous years, the current economic instability seems to be marked by unique characteristics that have caught the attention of economists and experts alike. Chief among these is the volatile behavior of the Maldivian Rufiyaa (MVR) against […]
Can an all-premium class airline succeed?
BEOND, a start-up airline, is embarking on a bold venture by introducing a luxury airline featuring an exclusive all-premium class configuration. In contrast to the conventional practice of accommodating 220 economy seats, BEOND’s Airbus A321 will offer just 68 seats, focusing on delivering an unparalleled upscale travel experience. While the concept of an airline solely […]
Senior executives at luxury hotels express concern about staffing issues
Maldives has long been a coveted destination for travelers seeking luxury and relaxation. However, behind the idyllic façade, the senior executives at luxury hotels are grappling with a pressing concern – staffing issues. A recent global research study commissioned by Communications Specialist Ltd, a leading communication technology company, sheds light on the challenges faced by […]
Concerns raised over tourism development in B. Goidhoo, Fulhadhoo, Fehendhoo Lagoon
The Maldives, with its pristine beaches, crystal-clear waters, and diverse marine life, has long been a paradise for tourists seeking a slice of tropical heaven. However, as the tourism industry continues to grow, concerns have been raised over the potential impacts of unchecked development on the fragile ecosystems that make the Maldives so alluring. The […]
