Tourism sector reels under new currency rules: Investors, operators voice alarming concerns
The Maldives’ tourism-dependent economy is facing growing unrest among investors, resort operators, and industry stakeholders following the government’s enforcement of a new foreign exchange regulation. Marketed as a step toward economic stabilization, the regulation mandates foreign currency earners—primarily resorts and tourism businesses—to convert a significant portion of their earnings through the local banking system. But […]
